Irish health technology platform WebDoctor has announced a €3 million investment from VentureWave Capital, valuing the company at €48 million.
The investment will be used to accelerate WebDoctor’s international growth and expansion, growing its sales, marketing, product and technology teams.
The telehealth platform was established in 2013 by co-founders Oisín and Howard Kim and Martin Commins. It now enables engagement and collaboration between healthcare practitioners and their patients, with more than 350,000 Irish patients registered on its GP platform. WebDoctor enables doctors to conduct day-to-day operations virtually, automate their booking and payment processes, and hold virtual consultations with patients.
Revenue at WebDoctor rose 75 per cent between 2019 and 2020 as telehealth services experienced a boom during the Covid-19 pandemic. VentureWave Capital’s team will work with the company to drive growth following the pandemic, and to expand the company into new markets.
VentureWave Capital chairman and managing partner, Alan Foy, will join WebDoctor’s board of directors.
“VentureWave Capital’s investment comes at a pivotal time for WebDoctor, enabling us to meet the exponential growth of the telehealth market and operate on an international scale,” said chief executive David Crimmins. “This is an exciting time for the company and we look forward to the further development of both our B2C and B2B offerings in the short term.”