TeleClinic has successfully completed its Series A financing round and received a capital commitment of seven million euros from Idinvest Partners. The Munich-based telemedicine startup plans to use the fresh capital to expand its market leadership in the telemedicine field.
Only in November 2017, TeleClinic had completed a seed financing of two million eurosThe next big step is now imminent: to scale the business model and provide millions more patients with digital access to medical care. New strategic partnerships and marketing measures are planned for this purpose. Thanks to TeleClinic, 50 percent of all private patients in Germany already have free digital access to doctors from 30 specialties. Among those with statutory insurance, the number is around nine million. This makes the young company part of standard care. For private patients, e-prescriptions are possible throughout Germany via TeleClinic. The company is cooperating with 7,000 pharmacies for this purpose. Those with statutory insurance are to follow in 2019 — initially as part of a model project.
Actively shape the digitalization of the healthcare system
Telemedicine is considered a promising future market. Katharina Jünger, CEO of TeleClinic, is convinced that telemedicine will play a central role in the German healthcare system in the future:
"The digitalization of healthcare is currently progressing at a rapid pace. We are actively shaping this development and, with TeleClinic, want to ensure nationwide digital access to high-quality primary care. Germany needs telemedicine to efficiently address challenges such as demographic change. People are aging, and spending is rising as a result. Teleconsultation alone has an estimated potential benefit of €4.4 billion. We are pleased to have gained a strong partner in Idinvest Partners to digitally shape the future of healthcare."
“TeleClinic is a pioneer”
Matthieu Baret, Managing Partner at Idinvest Partners and responsible for Venture and Growth Capital, says:
"Idinvest Partners has established a reputation as one of Europe's most distinguished venture capital investors through investments in well-known and successful companies in the digital and healthcare industries. The investment in TeleClinic represents another milestone in this strategy. TeleClinic is a pioneer in a promising business area and a market with great potential. In a context of demographic change and ever-increasing gaps in medical care in rural areas, the company fulfills an important social mission. We are pleased to support TeleClinic in fulfilling this mission."
Idinvest Partners is a European investment firm specializing in the SME segment with more than €8 billion in assets under management and has completed more than 4,000 financings across Europe. As one of Europe's largest venture capital investors, Idinvest Partners is able to accompany portfolio companies from seed financing to later financing stages. The firm has previously financed companies such as Allthings, Deezer, Wefox, and Withings.
