Chinese Medical Information Platform LinkedCare Raises Nearly $15M in Series C1 Round of Financing

On April 29, 2019， Chinese medical information platform LinkedCare has raised RMB100 million (US$14.85 million) in series C1 round of financing. Investors of this round include China-based venture capital firm Everest Venture Capital and Taikang Asset Management, a subsidiary of insurance firm Taikang Life Insurance.

The company raised tens of millions of yuan in a series B+ round from Meituan-Dianping in September 2018, and a series B round from Fusun in September 2017, without disclosing financial details. It also raised RMB70 million (US$10.40 million) in a series A round and a series A+ round respectively led by Chinese healthcare information sharing website dxy.cn and Fosun in 2016.

Upon the completion of the investment, the company will focus on a so-called "SaaS plus platform" business model, which provides medical institutions with products and services, such as SaaS, supply chain risk management (SCRM) and other small mobile applications.

LinkedCare, fully known as Shanghai LinkedCare Information Technology Co., was founded in July 2015 to focus on providing software as a service (SaaS) solutions to dental clinics, medical beauty institutions, and general medical institutions. The company’s solutions help connect not only hospitals, clinics, doctors, and patients, but also medical devices, big data, insurance firms, suppliers, internet platforms and third-party healthcare service providers to "redefine the way medical institutions work," said LinkedCare on its website.

LinkedCare provides core businesses of clinics, including electronic health records, customer relationship management, billing, and sterile processing department (SPD) management. The company said it has served more than 16,000 chain dental clinics and medical beauty hospitals.

"Taikang is optimistic about the growth prospects of the dental industry. As a leader in SaaS and supply chain services in the dental and medical beauty industries, LinkedCare has covered 16,000 clinics and hospitals," said Xu Jun, head of investment department in Taikang Asset Management.

Everest Venture Capital Investment Co., Ltd was founded by Mr.Xiao Jiancong in September 2007. The founder and his team focus on high-tech venture capital investments for the past 12 years. In 2018, Everest Venture capital was awarded the top 10 most active private equity investment institutions and the top 50 best venture capital institutions in China. They have 140 employees with rich industrial experience and two offices in both Beijing and Shenzhen to cover the investments in the whole Mainland China area.

Taikang Asset Management Co. Ltd. is a subsidiary of Taikang Life Insurance Company Limited. Taikang Life Insurance Company Limited is a Beijing-based, China-incorporated life insurance company, the fourth largest life insurer by premium income in China, offers services ranging from life insurance to asset management.