Tech Crunch: Siloam Hospital Group Joins MDI and TPFT in Prixa’s $3M funding
TECHCRUNCH.COM — Indonesian healthcare startup Prixa has raised $3 million led by MDI Ventures and the Trans-Pacific Technology Fund (TPTF), with participation from returning investors including Siloam Hospitals Group.
This brings Prixa’s total raised to $4.5 million since it launched in 2019. Co-founder and chief executive officer James Roring M.D., told TechCrunch in an email that the new funding will enable Prixa to scale its platform and customer base. Prixa uses a B2B model, partnering with healthcare payers like insurance providers and corporations. Through its B2B customers, it currently serves about 10 million patients.
Prixa currently works with four major insurers and has six additional insurers in its short-term pipeline. It also works with Indonesia’s largest third-party administrators, Roring said, allowing it to reach more policyholders.
Prixa’s platform includes a digital health assistant to answer patients’ questions, telemedicine consultations, pharmacy deliveries and on-demand lab diagnostics. Usage increased during the COVID-19 pandemic as more patients sought online consultations for primary care.
Other telehealth startups in Indonesia include Halodoc and Alodokter (which is also backed by MDI). Both connect patients directly with healthcare and insurance providers. Roring said Prixa differentiates by focusing on greater cost control for healthcare payers and positioning itself as a digital primary care platform.
“By symptomatically managing patients outside of tertiary care facilities and caring for chronic non-communicable diseases online, Prixa is able to effectively reduce the amount of outpatient claims and downstream inpatient cost incurred by healthcare payers,” Roring said. “Additionally, the combination of a growing and robust medical database, as well as proven clinical guidelines, contribute to cost efficiency and service optimization through the standardization of treatment by our healthcare providers.”
In a press statement about the funding, Aditia Henri Narendra, MDI Ventures’ general manager of legal and corporate communication, said, “MDI co-led this financing because Prixa has demonstrated its ability to support insurance companies and hospitals in making medical services more accessible and affordable through its AI telemedicine platform.”