Linkedcare Secures $100 Million Series D Funding to Strengthen Dual Leadership in Practice Management Software and Dental Consumables Marketplace

VCBeat has learned that on June 23, Linkedcare, a “management software + consumables marketplace” platform in the consumer healthcare sector, announced the completion of its Series D financing.This funding round was led by Investcorp, with participation from Jinding Capital and Shengye Capital. Existing shareholders Matrix Partners China, So-Young, and Lightspeed China Partners continued to increase their investments. Just six months ago, Linkedcare announced the completion of its C2 financing round. With two rounds of financing totaling over $100 million within half a year, this clearly demonstrates that its “SaaS + Supply Chain” model in the consumer healthcare sector has gained strong recognition from both the market and institutional investors.

Founded in 2015, Linkedcare has maintained rapid growth by leveraging its deep industry insights and robust technological capabilities, consistently leading the first tier of consumer healthcare SaaS management software providers. Beyond software services, Linkedcare has continued to strengthen its position in the industrial supply chain by building “Linkedcare Mall” to connect upstream and downstream players across the industry. The adoption of a dual-drive model combining “software + supply chain” reflects Linkedcare’s firm commitment and long-term patience in becoming the digital infrastructure for the industry.

Wu Zhijia, Founder and CEO of Linkedcare, stated, “In China’s consumer healthcare SaaS sector, Linkedcare has achieved certain milestone successes, thanks to the generous support and assistance from our numerous partners in the dental and medical aesthetics industries. The SaaS model possesses inherent connectivity capabilities that integrate people, processes, equipment, and services, providing a solid digital foundation for our supply chain capabilities. Furthermore, by deepening our supply chain and value-added service capabilities, we aim to enhance overall operational efficiency across the industry, build an industrial value network, and accelerate the pace of digital transformation within the sector.”

As of now, Linkedcare is providing SaaS management software to over 30,000 dental and medical aesthetics institutions, including 80% of mid-to-high-end dental chain institutions.Linkedcare’s solutions encompass single-clinic and chain management, customer relationship management (CRM), outpatient management, inpatient management, electronic medical records (EMR), inventory and supply chain management, financial management, insurance payment processing, PACS imaging, Youke SCRM intelligent marketing, and Youshu business intelligence analytics, fully meeting the operational and managerial needs of clinics.In terms of supply chain, Linkedcare Mall currently connects with over 300 upstream tier-one brands and offers more than 10,000 SKUs.By integrating the e-commerce platform with the SaaS system’s inventory management, we provide expiration date and batch tracking capabilities at key stages of procurement and consumables/equipment management. This helps clinics reduce procurement costs, improve operational efficiency, and minimize waste, enabling them to save money, effort, and worry.

Furthermore, to address institutions’ deeper needs in areas such as operational management and professional expertise, Linkedcare provides value-added services including integration with traffic platforms, course training, and medical equipment maintenance.Thus, it forms an integrated solution encompassing online-offline integration, business-finance integration, clinical management integration, marketing-operations integration, and consumables procurement management integration, effectively helping dental and medical aesthetic institutions to expand revenue sources, mitigate risks, reduce costs, and improve efficiency, thereby achieving performance growth.

Investcorp, the lead investor in this round, manages over $35 billion in global assets. Hazem Ben-Gacem, Co-CEO of Investcorp, stated, “We are honored to lead this investment in Linkedcare. Against the backdrop of China’s rapid economic growth and large population base, the Chinese market is experiencing rising demand in dentistry, medical aesthetics, and other consumer healthcare sectors. We look forward to witnessing the rapid growth of this market. As part of Investcorp’s investment strategy, we have been actively engaged in the Asian market over the past year, and our investment in Linkedcare marks a significant milestone in our ongoing efforts to diversify our portfolio.”

Mr. Zheng Liyuan, Head of Private Equity for Investcorp in China and a key participant in this round of financing, stated, “Linkedcare is a phenomenal innovator in China’s dental SaaS industry. We are honored to partner with Mr. Wu and his outstanding management team, leveraging capital, global resources, and industry expertise to further strengthen Linkedcare’s leading position in the sector.”

Against the backdrop of the industrial upgrade in consumer healthcare, high-quality products and services are the core drivers of value creation. Following this round of financing, Linkedcare will continue to focus on consumer healthcare sectors such as dentistry and medical aesthetics. It will build a R&D center with hundreds of staff around its “SaaS management software + B2B supply chain” model, steadily increase investment in software product development, enhance supply chain capabilities by establishing partnerships with more upstream and downstream partners, and set up a customer service center with a hundred-strong team. These efforts aim to better serve dental and medical aesthetic clients, thereby facilitating the development of digital infrastructure and promoting digital transformation across the industry.

Investcorp is a global leader in alternative investment, focusing on private equity, real estate, credit, hedge funds, GP stakes, and infrastructure. Since its establishment in 1982, Investcorp has actively pursued high-growth opportunities worldwide, investing prudently to create long-term value for portfolio companies and deliver stable, substantial returns to shareholders.

Since its inception nearly 40 years ago, Investcorp has maintained a strong alignment with shareholder interests by committing substantial proprietary capital across its product offerings, thereby creating sustainable value for shareholders and within its covered investment sectors. In its investment practice, the firm adheres to rigorous due diligence processes, attracts top-tier talent, leverages global resources, and advances innovative venture investment approaches to deliver customized investment solutions for shareholders.

Investcorp’s investment strategy spans the United States, Europe, the Middle East, China, Singapore, and other regions. With assets under management exceeding $35 billion, the firm employs 430 professionals from over 45 countries worldwide.

Matrix Partners China is one of the most active venture capital firms in the early-stage market. Over the decade since its establishment, it has remained deeply rooted in the local ecosystem, steadfastly investing in Chinese entrepreneurs. Matrix Partners China has invested in more than 650 companies, including recently listed firms such as Li Auto, XPeng Motors, and Peijia Medical, as well as a host of other high-quality enterprises like Didi Chuxing, Ele.me, Guazi Used Cars, Futu Securities, Lexin Fintech Holdings, Momo, Liepin, Yuanfudao, VIPKID, and iSpace.

Lightspeed China Partners is an early-stage venture capital fund focused on the Chinese market, with a strategic emphasis on consumer internet, “Internet Plus,” enterprise services, and hard technology. Managing over $2 billion in assets across seven U.S. dollar-denominated funds and one RMB-denominated fund, the firm maintains offices in Shanghai, Beijing, and Hong Kong. It provides Chinese startups with a global perspective for international market expansion, communication platforms, and robust resource support. In the early-stage investment phase across various sectors, Lightspeed China Partners has nurtured a portfolio of innovative and disruptive success stories, including Meituan-Dianping (HK: 3690), Pinduoduo (NASDAQ: PDD), XPeng Inc. (NYSE: XPEV), Full Truck Alliance Group, and Zhongji Innolight (SZ: 300308).