Healthcare SaaS company THB (Technology | Healthcare | Big Data Analytics) announced on Friday that it has secured $20 million in a growth equity round, led by Filter Capital and Edelweiss Discovery Fund Series – 1. Cornerstone Venture Partners Fund (CSVP) and Healthquad also participated in the funding round.
Market Leader in Healthcare SaaS
Describing THB as a prominent market leader in healthcare SaaS in India and Asia, Abhishek Prasad, managing partner of CSVP Fund, highlighted the company’s proprietary data platform and software modules. These enable healthcare enterprises to deliver personalized care to their customers, resulting in direct top-line impact. Prasad expressed confidence in THB’s potential for exponential global scale, emphasizing the excitement to embark on this journey with the THB team.
Global Expansion Plans
THB intends to utilize the raised funds to expand its operations globally and fuel growth in the regions where it already has a presence, including South Asia, the Middle East, and Southeast Asia. The company’s clientele spans various segments of the healthcare industry, including hospitals, pharmaceutical companies, diagnostic labs, primary care providers, consumer health firms, payors, and med-tech companies across multiple countries such as India, Bangladesh, Sri Lanka, UAE, Saudi Arabia, Indonesia, Singapore, and Malaysia.
Empowering Healthcare Enterprises
Ashish Agarwal, managing partner – private equity at Edelweiss Asset Management, expressed enthusiasm about partnering with THB. Agarwal emphasized THB’s significant role in enabling healthcare providers, pharmaceutical companies, and other segments to harness the full potential of data. THB’s suite of solutions empowers healthcare enterprises to efficiently grow and deliver effective customer experiences, Agarwal added.
Strategic Growth Initiatives
With the infusion of funds, THB aims to expand its product portfolio and strengthen its global presence further. The company envisions providing its customers with a comprehensive suite of data use-cases, enabling them to fully leverage their healthcare datasets and achieve tangible growth. Akansh Khurana, managing director and group chief executive officer of THB, emphasized the vast growth potential presented by Healthcare Big Data Technology in the current decade and reiterated THB’s commitment to delivering value to its customers through innovative solutions.
In conclusion, THB’s successful funding round marks a significant milestone in its journey towards global expansion and underscores the increasing importance of data-driven solutions in the healthcare industry.
