THB raises $20mn growth equity round led by Filter Capital and Edelweiss Discovery Fund Series – I to expand its global operations

THB (Technology l Healthcare l Big Data Analytics), Asia’s leading Enterprise Healthcare SAAS company, has announced a$20 millionfunding in agrowth equity round led by Filter Capital and Edelweiss Discovery Fund Series – I.

Cornerstone Venture Partners Fund (CSVP)and Healthquad, among others, also participated in the round.

THB will use the funds in expanding its operations globally and accelerating growth in existing countries across South Asia, Middle East and South East Asia. With this funding, THB is well-positioned to expand its product portfolio and invest in growing global presence.

Investec Capital and Antares Legal were the advisors to the transaction.

THB serves large healthcare enterprises to drive digital, data, and technology adoption with their data management platform, and a suite of software solutions across 20+ use-cases, including patient engagement, doctor engagement, clinical customer relationship management, analytics automation, customer care automation, and real-world evidence.

THB currently serves wide spectrum of customers in the healthcare industry, including hospitals, pharmaceutical companies, diagnostic labs, primary care, consumer health, payors, and med-tech companies across markets in emerging Asia including India, Bangladesh, Srilanka, UAE, KSA, Indonesia, Singapore, and Malaysia.

THB is led by Akansh Khurana (a former Bain & Co. executive), Rohit Kumar (ex analytics professional at American Express), Rajesh Pachar (ex Microsoft executive), Kritika Tandon (ex McKinsey consultant), and Dr. Chirag Adatia (ex McKinsey Partner).

THB’s 300+ software and data engineers, doctors, consultants, and analysts provide deep clinical insight and are committed to delivering measurable outcomes to its enterprise customers. THB currently serves over 150 healthcare enterprises across 10+ countries.

Akansh Khurana, MD &Group CEO of THB said, “Healthcare Big Data Technology presents an enormous opportunity for growth in this decade. THB aims to provide its customers with a comprehensive suite of data use-cases, enabling them to fully leverage their healthcare datasets and achieve tangible growth. We are excited about partnering with the new investors and leveraging their expertise in technology and enterprise SaaS to further expand THB into a truly global organization.”

Dr Chirag Adatia, India and Established Business CEO said, “Technology and clinical data will be key pillars of growth for any healthcare enterprise in this decade. Over the last few years, we’ve seen some of the big healthcare giants take a leap here, and companies and governments across the globe are adopting or evaluating this opportunity. We are thrilled about being at the core of this opportunity, and are excited about our next phase of growth”.

Nitin Nayar, Co-Founder and Managing Partner of Filter Capital, added, “THB isAsia’s leading healthcare software and data company. Akansh and team have built a strong product suite, demonstrated clear product-market fit, and served over 150 passionate customers across Asian markets. We are looking forward to this partnership and building a truly global health-tech leader.”

Ashish Agarwal, Managing Partner, Private Equity, Edelweiss Asset Management, said, “We are excited to partner with THB. The company is playing a vital role in helping healthcare providers, pharma companies, and other healthcare segments to unlock the full potential of data. THB’s suite of solutions empowers healthcare enterprises to efficiently grow and deliver effective customer experiences. With the leadership of Akansh, Rohit, Rajesh, Kritika, and Chirag, THB is well-positioned to become a premier health-tech company across India &International markets in the region.”

Abhishek Prasad, Managing Partner, CSVP Fund, said, “True to our focus of vertical enterprise SaaS, THB is a clear market leader in healthcare SaaS in India &Asia. Its proprietary data platform and software modules enable healthcare enterprises to deliver personalizedcare to their customers– delivering direct top-line impact. In our experience of working with enterprise SaaS companies, THB has all the right ingredients for achieving exponential global scale from hereon, and we are equally excited to traverse this journey with the team.”

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About THB: THB is Asia’s leadingEnterprise Healthcare SAAS company that enables large healthcare enterprises to drive digital, data and technology adoption leveraging THB’s data management platform and a suite of software solutions across 20+ use cases. THB serves hospitals, pharmaceutical, diagnostic labs, primary care, consumer health, payors, and med-tech companies. For more details, please visit www.thb.co.in.