SINGAPORE, 3 January 2022 — Smarter Health today announced that it has secured 5.15 million SGD in Series A funding led by East Ventures. The funds will be used primarily for product development and market expansion in Southeast Asia.
Led by seasoned senior executives across the full spectrum of the healthcare ecosystem, the team brings together deep domain expertise in healthcare operations, medical insurance and Third-Party Administration.
Smarter Health’s unified platform facilitates secure data exchanges between insurers, healthcare providers and patients throughout the entire healthcare journey. This enables the use of data to guide decision-making for patients as well as improve the accuracy and speed of claims processing. Future developments will drive greater operational efficiency, effectiveness and improve customer experience.
Having achieved promising traction in Singapore, Malaysia, Indonesia, Smarter Health is looking to further enhance and expand its market presence and suite of solutions.
“We are excited to partner with East Ventures and other strategic investors such as Orbit Malaysia, Citrine Capital, HMI Group, Emtek and Blue7 to realise our vision of making healthcare ‘Accessible, Affordable and Accountable’. We look forward to collaborating with more insurers, healthcare providers and doctors to achieve this vision”, said Mr Liaw Yit Ming, Chief Executive Officer of Smarter Health.
Willson Cuaca, Co-Founder and Managing Partner of East Ventures agreed, “The COVID-19 pandemic has forced insurers and healthcare providers to reflect and re-strategise on their operations, catalysing digital transformation. Smarter Health is here to make healthcare accessible, affordable, and accountable by providing an AI-powered interoperable platform. We are excited to support Smarter Health in resolving inefficiencies in healthcare processes between stakeholders in the healthcare ecosystem.”
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About Smarter Health
Smarter Health provides a trusted infrastructure for data exchange between key stakeholders of the healthcare ecosystem. Our “SIMPLIFY, STANDARDISE and SYSTEMISE” approach supports the delivery and payment for healthcare services in an efficient and effective manner. We believe that healthcare should be ACCESSIBLE, AFFORDABLE and ACCOUNTABLE. The Smarter Health team consists of experienced senior executives from established healthcare and insurance institutions in Asia.
About East Ventures
East Ventures is a pioneering sector-agnostic venture capital firm in Indonesia. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, including Seed and Growth for over 200 companies in Southeast Asia.
An early believer in the startup ecosystem in Indonesia, East Ventures is the first investor of Indonesia’s unicorn companies, namely Tokopedia and Traveloka. Other notable companies in the portfolio include Ruangguru, Warung Pintar, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.
East Ventures was named the most consistent top performing VC fund globally by Preqin, and the most active investor in SEA and Indonesia.
About Orbit Malaysia
Orbit Malaysia is a series A regional fund co-managed by Kejora Capital and Sunway Group of Malaysia. It is also part of the fund portfolio of Mavcap Malaysia.
About Citrine Capital
With a vision to connect capital with impact, Citrine Capital is a principle-based investment firm committed to global sustainable development. Citrine invests with the rigour and discipline of a capitalist with the expectation to generate positive financial returns and societal outcomes.
About PT Elang Mahkota Teknologi Tbk (Emtek)
Emtek is the 10th largest listed company in Indonesia by market capitalization. Founded in 1983, Emtek is a renown conglomerate in Indonesia focusing in media, technology, and healthcare sector. Emtek’s notable portfolio include SCTV, Indosiar, Vidio, Bukalapak, Grab, and EMC Hospitals. Vidio, a over-the-top (OTT) media service recently raised $150 million from private equity firm Affinity Equity Partners, lifting it to near-unicorn status. Bukalapak is the first unicorn to conduct an IPO in Indonesia and set the record for the highest fundraise in the Indonesia Stock Exchange by raising IDR21.9 trillion ($1.5 billion) in the IPO. Emtek is named as Indonesia’s own Softbank and Alibaba by BRI Danareksa Sekuritas due to its achievement as a tech conglomerate in Indonesia.
About Health Management International (HMI Group)
HMI Group is a growing regional private healthcare provider with presence in Singapore, Malaysia and Indonesia. The Group owns and operates two tertiary hospitals in Malaysia. In Singapore, the Group owns and operates a healthcare training centre, a primary care clinic chain with 25 locations, and Singapore’s first private one-stop ambulatory care centre. The Group also has a network of representative offices in Indonesia, Malaysia and Singapore.
About Blue7
Blue7 is a Singapore based impact-first investor. We directly support Southeast Asian entrepreneurs with bold and effective solutions for improving healthcare, education, aquaculture, alternative protein and financial inclusion industries. We also invest and work with partners in Asia and beyond, to build scalable, technology enabled impact businesses globally.
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For more information or interviews, contact:
Eileen Kang, VP, Special Projects, Smarter Health
Phone: +65 9699 6247, Email: eileen@smarterhealth.sg
Pheseline Felim, Public Relations Associate, East Ventures
Phone: +6281312380123, Email: p.felim@east.vc