Singapore-based telehealth platform ORA has raised $10M in Series A funding, marking the largest telehealth Series A investment in SouthEast Asia according to the company. The funding round was co-led by TNB Aura and Antler, with participation from Gobi Partners, Kairous Capital, and GMA Ventures. This recent injection of capital brings ORA’s total funding to date above $17M, enabling the company to further expand its operations and offerings. Since its launch in 2021, ORA has become the fastest-growing and largest vertically-integrated telehealth platform in South East Asia, facilitating over 250,000 consultations. Ora is organized into verticals focused on specific health issues, like women’s and men’s health as well as skincare.
ORA Founder & CEO Elias Pour shares: “ORA is on a mission to deliver high touch, high-quality care to millions of patients, and with our continued growth story throughout SEA, we are thrilled with today’s announcement. ORA has had over 6 million patient touch points provide us with valuable health data through extensive health evaluations and consultation online. This has brought unique insights into these patient’s healthcare expectations that have and will inform future innovations with our key partners. We have the high growth potential of DTC, with a very high percentage of healthcare expenditure in our region being out of pocket. This is powered by an underlying SAAS type of recurring revenue, with subscriptions counting for more than 70% of our revenue and our retention is better than Netflix with 10x the monthly order value. We achieved post-marketing breakeven at the end of last year on a group level after just 20 months of going live and have a very clear and believable path to profitability that is imminently ahead of us.”
Charles Wong, Founding Partner at TNB Aura added: “Since ORA’s early days, TNB Aura has been a firm believer and strong supporter of Elias and the ORA team’s unwavering mission to provide access to affordable high-quality healthcare. Their combined focus on specialized, and often taboo, healthcare verticals as well as a direct-to-patient approach has led the team to clearly differentiate itself while delivering market-leading unit economics that meet the tailored needs of patients across the full value chain.”
ORA plans to use the new funds to expand its presence into new territories, both geographically and with new offerings. Later this year ORA’s brands will arrive in retail across 1300 tier-one stores bringing its accessible, medically-backed range of products to shelves. Looking at different geographies there are opportunities to expand into regions like the GCC.