South Korean Aftercare SaaS, AfterDoc, Raises KRW 5 Billion in Series A Funding
South Korea-based aftercare SaaS solution company, Medipal, has raised a Series A investment of 5 billion KRW, bringing their total funding to 7 billion KRW. Bass Investment and Insight Equity Partners, existing investors, participated in this round, with KT Investment joining as a new investor.
AfterDoc, launched in September 2021, facilitates the digital transformation of medical clinics and enhances the connectivity with returning patients. Through AfterDoc, clinics can perform post-appointment tasks, regular patient health monitoring, daily health consulting, and appointment management based on appropriate treatment cycles.
This investment is a positive endorsement of AfterDoc’s sustainable growth model, satisfying both patient medical consumption experiences and clinic management innovation. Medipal has been working on innovating the patient’s medical consumption experience by collaborating with various departments in local clinics since signing an agreement with the Korean Society of Emergency Medicine in April 2021. Additionally, the aftercare service for returning patients positively impacts the practical management indicators of clinics, with clinics adopting AfterDoc observing more than a 30% increase in returning patient rates.
Lately, AfterDoc has been focusing on service improvement, including signing a partnership agreement for electronic medical record (EMR) solution integration with SmartDoc, an EMR solution provider that offers the ‘Smart Doctor’ series to over 3,500 clinics using smart devices for medical management, billing, statistics, and more. The two companies are developing integrated partnership services to provide a comprehensive service environment for clinics.
Kang Jong-il, CEO of Medipal, mentioned, “Clinics and hospitals in need of digital transformation can easily manage returning patients and enhance their business competitiveness through AfterDoc without additional infrastructure investment,” adding, “With this investment, we will help first and second-tier clinics become central players in local healthcare and further enhance the continuity of patient care.”
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