Jianke Secures $130M Series B Funding at $500–600M Valuation, Files for U.S. IPO

VCBeat (WeChat ID: vcbeat) reported that on the evening of September 4, Jianke, a domestic online health management service platform, announced it had secured $130 million in Series B financing. The round was led by GTJA Investment, with participation from funds including HBM, while Kaixin, an investor in Jianke’s Series A round, continued to follow on. Jianke also stated that it expects to list in the United States next year.

This news was first reported by foreign media and quickly spread within the industry. The report stated that Jianke’s valuation would reach $500–600 million after this round of financing, and another round of funding would be conducted before its IPO next year, bringing its valuation at listing to between $1 billion and $2 billion.

Xie Fangmin, CEO of Jianke, stated that following this round of financing, Jianke will continue to drive the intelligent upgrade of patient chronic disease management applications and the development of its internet hospital. Leveraging business segments such as eCSO, eDTP, and Jianke Doctors, the company will align with national policies to accommodate prescription outflow and tiered diagnosis and treatment. By building a closed-loop “medical + pharmaceutical” full industry chain, Jianke aims to pioneer a new model for the development of online smart health services in China.

Founded in 2006, Jianke officially obtained the “Certificate for Internet Drug Transaction Services” issued by the China Food and Drug Administration (CFDA) in 2009, becoming the first legitimate and compliant online pharmacy enterprise in Guangdong Province. It has maintained a leading position in the industry for many years.

Currently, Jianke operates the largest online pharmacy in China, with 680,000 online SKUs and a cumulative user base exceeding 100 million. Meanwhile, Jianke boasts the industry’s largest chronic disease management service center, featuring over 1,000 customer service seats, along with more than 10,000 contracted physicians who manage over 20 million chronic disease patients across 18 medical specialties. As an industry leader, Jianke is also actively expanding its “Internet + Healthcare” footprint, having established multiple physical hospitals and internet hospitals nationwide.

Currently, China is accelerating into a period of strategic opportunity for the development of “Internet + Healthcare.” In April this year, Premier Li Keqiang presided over an executive meeting of the State Council, which formally approved measures to promote the development of “Internet + Healthcare.” Subsequently, the General Office of the State Council and local governments across the country have successively issued guidelines and action plans to foster the growth of “Internet + Healthcare,” ushering in a favorable policy environment for its development.

The "pain points" in China's pharmaceutical service market are also calling for the emergence and growth of new models of online smart health services. Due to the unbalanced economic and social development in China and the uneven distribution of high-quality medical resources, patients in small and medium-sized cities or remote areas often cannot access the medications they need or receive professional pharmaceutical care. This has led to low medication adherence among Chinese patients, particularly those with chronic diseases.

“Jianke’s non-replicable business characteristics are defined by its highly efficient and professional chronic disease management system, an integrated online-to-offline user service framework, and rapidly expanding sales scale. Its internet hospital centered on chronic disease management services, electronic prescription circulation system, and direct supply of new and specialty drugs have collectively built a moat for Jianke’s future high-speed growth,” commented Wang Haijiao, Partner at GTJA Capital.

In terms of innovative drug management and operational models, Jianke helps improve medication adherence among the Chinese population by continuously enhancing drug accessibility, medication safety, and precision in drug use, thereby empowering individuals to better manage their own health and improve their quality of life. Currently, Jianke’s core business has expanded from online pharmaceuticals to include online medical services, internet hospitals, and offline chain pharmacies, fully building an integrated online-offline development model that encompasses a closed-loop service ecosystem across the entire pharmaceutical and healthcare industry chain.

GTJA Investment Group was established in Shenzhen in 2001. Focusing on investments in the healthcare industry, it prioritizes strategic equity investments and covers all stages, including mergers and acquisitions (M&A), private equity (PE), venture capital (VC), and angel investing. Boasting the largest professional healthcare investment team in China, the group has built an investment ecosystem platform for the healthcare industry and strives to become a globally influential healthcare investment institution. With assets under management (AUM) of RMB 20 billion and 24 healthcare-focused funds, GTJA has invested in over 130 companies, including more than 60 in the healthcare sector. It has facilitated the successful listing of 11 portfolio companies. Notably, GTJA holds a controlling stake in Boya Bio-pharmaceutical Group, a leading domestic plasma-derived products company, and supported its successful initial public offering (IPO).

Kaixin Group is a private equity investment firm focused on the Asian region, with an investment emphasis on leading companies in the consumer sector, while also engaging in deep value investments across other industries. Since its establishment in 2003, Kaixin Group has not only invested in a number of outstanding enterprises in sectors such as general health, beauty, apparel, mobility, and fast-moving consumer goods (FMCG), but has also completed a series of investments in industries that support the sustained growth of the Asian consumer market, including logistics and e-commerce services.