OnlineDoctor has raised a total of 5.5 million Swiss francs as part of an oversubscribed financing round and gained three new investors at the same time. According to a press release issued by the telemedicine start-up, the financing round was led by the health insurance firm CSS. Alongside existing investors, both Muschler Ventures and PilotRock Ventures were also involved in this financing round.
OnlineDoctor offers patients specialist diagnosis and recommended actions for skin problems within 48 hours via its platform. The start-up is already active in both Germany and Austria, as well as in Switzerland. In Germany, for example, a total of 10 million legally insured people are now eligible to use OnlineDcotor services free of charge. The two founders of OnlineDoctor, Tobias Wolf und Philipp Wustrow, explain in the press release that the company’s strong growth was additionally accelerated by the obvious demand for digital healthcare solutions during the COVID-19 pandemic.
Founded in 2016, OnlineDoctor intends to use the fresh capital to further drive the internationalization and growth of the business. To achieve this, the platform will firstly be further developed in terms of technology. Secondly, staff levels in St.Gallen as well as in both the Zurich and Hamburg locations will be increased. “OnlineDoctor is a good example of a company that advances healthcare by way of innovative, digital technologies and, in so doing, improves integrated care”, comments Peter Mittemeyer, Group management member and Head of Strategy and Corporate Services at CSS, in the press release. Mittemeyer is also set to join the Board of Directors at OnlineDoctor. He added that his firm was delighted to be supporting the start-up in its strategic further development and in achieving its growth targets.