Tencent backs Chinese healthcare portal DXY in $500M round – TechCrunch

DXY, A 20-year-old online healthcare community for Chinese consumers and healthcare organizations such as Pfizer, announced this week that it had raised $ 500 million in a new round led by private equity firm Trustbridge Partners.

Existing banking Tencent And Hillhouse Capital also participated in the round, which raised the firm’s total funding to more than $ 660 million. Earlier investors of DXY include Xiaomi founder Lei Jun’s Shunwei Capital, Legend Capital and DCM.

The company started as a knowledge-sharing platform for doctors and has added a consumer-facing aspect by bringing wellness advice and medical consulting services to the public over time, that is, patients from going home. Can take home first. Hospital.

As the epidemic raged, hospitals and people around the world raced to move their activities online, reducing demand for healthcare apps. DXY The response was swift and the first in China to introduce a real-time COVID-19 tracker at the outbreak.

Today, health organizations can also use DXY as an advertising channel, a learning platform as well as a recruitment site, as a way for the company to generate revenue.

Since its inception, the site has attracted some 130 million consumers, over 9,000 medical institutions and 50,000 doctors who have provided online counseling. The platform has a current user base of 20 million and counts Eli Lilly, Pfizer and AstraZeneca among its major customers.

DXY plans to spend its new income to strengthen two pillars of its business – support for services for physicians and consumers. Its consumer business faces some strong opponents in China Softbank Supported Ping An Good Doctor, Alibaba health, JD Health, And Vedctor, supported by Tencent.