360 Health Secures RMB 100 Million Series A Funding Just 4.5 Months After Launch

On May 26, 360 Health publicly announced the completion of its RMB 100 million Series A financing round, with the full amount secured. The investors participating in this round were Lilly Asia Ventures and Softbank China Capital. It was revealed that the financing was completed on December 25, 2015, just four and a half months after the establishment of 360 Health.

Chen Hua stated that 360 Health’s core strategy addresses the two major pain points in China’s internet healthcare industry—technology and traffic—by establishing a Technology Cloud Platform and a Shopping Guide Cloud Platform, respectively. The Technology Cloud Platform currently comprises Tianji and Microsites.“Tianji”, is a warehousing and distribution technology platform. The system comprises a series of related technical modules, including an omnichannel ERP, WMS (Warehouse Management System), OMS (Order Management System), and SCM (Supply Chain Open Platform). Its key highlights lie in standardization, digitization, automation, flexibility, personalization, and diversification.

As of now, 360 Health has provided cloud warehouse system services to more than ten well-known manufacturers, including Dekai Pharmacy, Baiyang Pharmaceutical, and Tongrentang. The micro-site is a member management platform."Microsite"Key highlights include guided operations, enhanced service etiquette, improved interactivity, practical tools, follower-growth promotional campaigns, and attentive member services. It provides pharmaceutical manufacturers with functionalities such as fan management, fan services, and distribution systems. Currently, it has begun serving well-known pharmaceutical companies including China Resources Sanjiu, China Traditional Chinese Medicine Holdings, and Kuihua Pharmaceutical. In addition, it has launched“360 Good Medicine”a pharmaceutical product guide platform, currently averaging 350,000 daily visits; as of the end of March, it had partnered with nearly 150 merchants and offered 32,000 product varieties.

Chen Hua stated that this round of financing was completed at the end of last year. As the company had just entered the internet healthcare market at that time, it sought to avoid premature attention and therefore delayed the announcement until now. The funds raised in this round will be primarily used to deepen exploration in the pharmaceutical e-commerce sector, as well as to comprehensively enhance the company’s operational capabilities and user experience. On April 7,"West Lake Night Talk"Zhong Chenhua once stated that 360 Health aims to become the “Doraemon” of China’s pharmaceutical and healthcare sector. “The three questions we frequently ask our clients are: ‘Are you optimistic about the current development of internet-based healthcare? How is your business performing? What challenges are you facing that I can help you address?’ We aspire to change the world through technology, and therefore hope to fulfill the role of Doraemon effectively. Only by creating value for our partners can we realize our own value. Thus, this RMB 100 million will be used to expand our team, develop products, and meet everyone’s needs.”