mClinica Raises Series A Funding With Participation from Endeavor Catalyst
February 15, 2017 – Health tech scale-up mClinica, led by Endeavor Philippines Entrepreneur Farouk Meralli, has raised $6.3 million in Series A funding to expand its operations globally. The round was one of the largest Series A financings for a digital health company in Southeast Asia was led by Silicon Valley based Unitus Impact and joined by London headquartered Global Innovation Fund, MDI Ventures of Indonesia, and Endeavor Catalyst. Existing investors 500 Startups, IMJ Investment Partners and Kickstart Ventures also participated in the round.
With operations in the Philippines, Singapore, Indonesia and Vietnam, mClinica has developed mobile technology to unite pharmacies on a common platform, provide access to new sources of data, and allow for the deployment of data-driven programs that improve patient affordability and health outcomes. Since raising its seed round in 2014, the company has connected thousands of pharmacies across Southeast Asia, providing consolidated access to millions of patients and billions of data points.
In a market dominated by independent pharmacies, rather than chains such as Walgreens, understanding data on patients, health and medicines is challenging. With mClinica, Meralli hopes to change that, using mobile technology to track medicine and clarify data.
“Across many developing countries, basic health data is missing. Trillions of dollars are spent by the public and private healthcare sectors and often there is no data to guide the right programming and policy decisions” said mClinica Founder and CEO Farouk Meralli. “At mClinica, we are connecting once-fragmented pharmacies on a common platform providing a unified set of global health data that has never been available before. Our goal is to rapidly transform the availability and quality of global health data in a matter of months not decades.”
Through its platform, mClinica enables leading multinational pharmaceutical companies, governments, NGOs, and academic institutions to obtain previously inaccessible data and run patient programs that directly touch populations at the local pharmacy level. As a core part of its platform, mClinica offers health ministries the ability to rapidly generate and visualize real-time health data for decision making and policy formulation. The team is engaging with several governments that are looking to employ powerful, data-driven tools to improve the delivery of health care in emerging markets.
mClinica was selected into the Endeavor network at the 66th International Selection Panel in Boston, Massachusetts in September 2016. The investment, which received media coverage in outlets such as Tech Crunch, marks Endeavor Catalyst’s fourth in Southeast Asia, and first ever in a company selected by our Endeavor Philippines affiliate office.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $35M in philanthropically donated and invested capital, and invested into more than 40 Endeavor companies in 15 countries. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina; Yemeksepeti.com (acquired by Delivery Hero) in Turkey and Ruma in Indonesia.
Learn more about Endeavor Catalyst by clicking here.
mClinica’s mission is to unite the world’s pharmacies to transform global health data and advance patient health. The company currently operates across Southeast Asia and connects thousands of pharmacies on common platforms providing access to millions of patients and billions of data points. It works with some of the world’s leading pharmaceutical companies as well as governments, NGOs and academic institutions.
For more information on mClinica, visit http://www.mclinica.com