Sydney-headquartered telehealth platform Eucalyptus has lately bagged A$30 million ($22.4 million) in a Collection B funding spherical led by NewView Capital, the Silicon Valley-based investor that additionally backs digital well being companies 23andMe and Hims & Hers. The investing spherical additionally noticed participation from earlier buyers Blackbird Ventures and W23, in addition to new investor AirTree Ventures.
WHAT IT DOES
Based in 2019, Eucalyptus creates and operates a telehealth platform housing digital well being manufacturers. Its platform offers sufferers with entry to specialised healthcare suppliers that, in line with the corporate’s press launch, are “well-versed within the points and care that customers demand”. Presently, it runs the net platforms of males well being’s model Pilot, fertility well being agency Kin, prescription skincare supplier Software program and sexual wellness firm Regular.
Serving greater than 200,000 sufferers, the startup claims to be Australia’s largest vertically built-in telehealth platform.
WHY IT MATTERS
The startup’s newest funds might be deployed for constructing behavioural well being and persistent care modules on its platform to help manufacturers in weight administration, diabetes, and psychological well being.
In a press release, Eucalyptus mentioned it has created a core platform supporting the operations of behavioural well being manufacturers. It affords a “quickly scalable” infrastructure of healthcare suppliers, a repository of affected person knowledge, distant monitoring instruments and partnerships with pathology labs and pharmacies.
Together with the funding spherical announcement, Eucalyptus additionally reported that Ravi Viswanathan, the founder and a managing accomplice of NewView Capital, might be becoming a member of its board.
THE LARGER TREND
Primarily based on a latest survey, US-based software program evaluations web site Capterra reckoned that using telehealth in Australia will doubtless proceed post-pandemic.
In keeping with its report, 92% of over a thousand Australians surveyed had been first-time customers of telemedicine through the COVID-19 pandemic. Almost eight in 10 respondents mentioned they’d use telemedicine once more with half citing the good thing about decreased ready time. 1 / 4 of them appreciated the minimised threat of getting contaminated with COVID-19 and 15% valued unrestricted entry to analysis and prescriptions.
ON THE RECORD
“As Australia’s tech ecosystem grows, it is nice to see increasingly expertise transferring from skilled companies to constructing the subsequent era of fast-growing tech firms. We had been instantly impressed by the high-quality workforce Eucalyptus has constructed and believed the corporate is well-positioned to turn into a world chief in digital care,” Christina Fa, a principal at NewView Capital, mentioned.
“We’re excited to have NewView on board. We needed a accomplice who believed a world healthcare firm may originate from Australia, who had the expertise to assist us get there and had been prepared to roll up their sleeves to assist us advance the enterprise,” Eucalyptus Founder Tim Doyle additionally commented.