Russian Insurtech and Telemedicine Startup BestDoctor Raises $26M B from Winter Capital Partners

Last year we covered the BestDoctor series in one round when the Russian insuretech startup raised $4.5 million for corporations for its online medical insurance platform, which also provides telemedicine services for employees. It has now closed the $26 million Series B round from winter capital partners, including Swedish investors VNV Global and UNIQA Ventures, as well as corporate VCs backed by UNIQ insurance companies. The company claims that this round gave it a $90 million valuation.

BestDoctor’s Virtual Clinic platform provides round-the-clock telemedicine services as well as preventive medicine and other services. Although the product is currently provided as an enterprise platform for private companies, it is now planning to enter the consumer market in 2021. Mark Sanevich, co-founder and CEO of BestDoctor, said: “We are pursuing a new goal and creating a platform with the best medical services that can be assigned to any health-related issue. The platform will bring together all of BestDoctor’s products to become an example of a product-oriented approach to clients and drugs. Not just in Russia, but around the world – a new kind of healthcare is urgently needed to focus on patients and their needs.”

In 2020, Best Doctor secured 1 million patients on its platform, securing Russian technology and telecom giant Group, Megaphone, and RBC Media. He plans for the Sanavich startup to enter the European digital-health market, which is currently growing at 28% a year.

Anton Farlenkov, managing director of Winter Capital Advisors, said: “The medical insurance industry is undergoing a digital transformation, with many services moving online to make customers more accessible and improve usage.” Bijan Von Sivers, investment manager at VNV Global, said: “The Company has built and managed a great set of corporate clients in a short period of time. We believe that BestDoctor is in a great position to continue to lead the Russian market with its innovative proposals and to show the strong potential for future geographical expansion.” Previous investors are Adventure, Target Global and LVL1 funds.