We are pleased to announce that THB has closed its Series B2 funding, from Cornerstone Venture Partners and MSPL.
About The Company
THB serves large healthcare enterprises to drive digital, data, and technology adoption with their data management platform, and a suite of software solutions across more than 20 use cases, including patient engagement, doctor engagement, clinical customer relationship management, analytics automation, customer care automation, and real-world evidence, among other things. THB was founded in 2015 by former Bain & Co. executive Akansh Khurana, ex-Microsoft executive Rajesh Pachar and former American Express executive Rohit Kumar. It roped in former McKinsey consultant Kritika Tandon as the company’s Chief Operating Officer in 2018 and ex-McKinsey Partner Chirag Adatia as the COO for India and established the business in March 2023.
THB currently serves a wide spectrum of customers in the healthcare industry, including hospitals, pharmaceutical companies, diagnostic labs, primary care, consumer health, payors, and med-tech companies across markets in emerging Asia including India, Bangladesh, Sri Lanka, UAE, KSA, Indonesia, Singapore, and Malaysia.
About The Transaction
THB raised $20Mn in equity funding in two tranches. They closed Series B2 (tranche 1) for USD 5.5Mn. Prominent investors who participated in the round – Cornerstone Venture Partners (leading Enterprise SaaS VC Fund), MSPL Ltd (the family office of Narendra Baldota of Baldota Group), Deep Kalra’s family office, Mr. Shibulal’s family office.
Key Venture advised THB in raising Series B2.
THB plans to use the funds in expanding its operations globally and accelerating growth in existing countries across South Asia, Middle East and Southeast Asia. The funding will also allow THB to expand its product portfolio and invest in a growing global presence.
The company has previously raised from leading healthcare investors such as HealthQuad, SeaLink Capital, Blume and HealthXCapital, amongst others.
“Healthcare Big Data Technology presents an enormous opportunity for growth in this decade. THB aims to provide its customers with a comprehensive suite of data use-cases, enabling them to fully leverage their healthcare datasets and achieve tangible growth,” said Akansh Khurana, Managing Director and Group CEO of THB.
“THB’s proprietary algorithms, understanding of medical datasets and the resultant analytical insights open up new frontiers of growth for the healthcare sector. This investment will solidify THB’s position in the global arena and enhance its product capabilities to become a leader in the market,” said Nidhi Saraf, Founder and CEO of Key Venture.