Business

Polish healthtech start-up HomeDoctor secures 3.7 million euros to finance growth

HomeDoctor, a healthtech start-up based in Warsaw has raised 3.7 million euros in a Series A funding round led by Cogito Capital Partners with participation from the firm’s founders. The company, which also has offices in Amsterdam, plans to use the funds to increase its offering and eventually expand to other European markets.

The start-up operates on a B2B2C and B2C principle, and is a leader in Poland in providing online and telephone medical consultations in the telemedicine channel, and offers the option to book home doctor visits. The company is also a partner for some of the largest medical centres and insurers in the country.

Currently, the start-up works with more than 350 doctors (general practitioners and 16 specialists) and has 200 doctors available for home visits. The service is available online and through a dedicated mobile app which connects patients directly to doctors. For home visits, the app uses geolocation to make sure the nearest doctor is dispatched the patient’s home within one hour. It’s this feature that the company considers its greatest and unique competitive advantage.

Ever since the beginning of the Covid-19 pandemic, there has been renewed interest in telemedicine and healthtech. HomeDoctor has recorded a high increase in demand, especially in teleconsultations, although it has also seen a rise in home visit bookings.

“HomeDoctor’s mission is to transform the traditional healthcare model challenged by accessibility issues and deliver healthcare services to consumers in a seamless, patient-centric way,” says Szymon Horaczuk, founder and CEO.

As for the recent Series A round, the company plans to use it to to execute an ambitious growth strategy — further product development in the telemedicine consultation area, expanding home visits, and an integrated online pharmacy. Tailored offerings for enterprise customers are also among the company’s goals.

“We are excited to partner with Szymon and his team to support HomeDoctor’s product and market expansion plans. The company’s offering meets patients’ needs and preferences for affordable and accessible healthcare services, conveniently delivered online and directly to their homes and is a game changer in the healthcare industry,” says Sylwester Janik, general partner at Cogito Capital Partners.

“We are delighted to have Cogito on board, to support our plans and strengthen our capacity to execute our ambitious growth and expansion strategy,” adds Mr Horaczuk.

Additionally, the company will continue to grow its presence in Poland, building its team and capacity to expand geographically and build strategic partnerships aimed at scaling-up its offering and market reach. Expanding the services to other European countries is also on the cards for HomeDoctor, where it hopes to build on the growing adoption of telemedicine.

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