Perth, Australia – Hola Health, a leading Australian telehealth and medicine delivery company, has announced it has closed a AUD4.5 million Pre-Series A venture funding round led by M8 Ventures. This investment marks a pivotal moment in Hola Health's mission to revolutionise 'on-demand' healthcare in Australia, providing fast, value-for-money care within 15 minutes, 24 hours a day, 7 days a week.
The round was led by early-stage tech venture fund M8 Ventures with follow-on capital from existing investors.
Lenin Rajendran, Cofounder and CEO of Hola Health, expressed his enthusiasm for the partnership, stating, "This investment is not just a financial boost but a strong vote of confidence in our vision to make primary healthcare accessible and immediate for all Australians. We're now set to fast-track our growth, bringing our services to even more people across the country, and preparing for our first international markets."
Wait times are too long, with close to half of all Australian patients seeing a GP for urgent care forced to wait 24 hours or more for treatment, and a quarter of all patients waiting longer for appointments than they feel is acceptable. And the issue is more pronounced in regional areas, compounding existing inequities between urban and rural populations.
Hola Health's success has been recognized with its recent recognition in the 2023 AFR Fast Starters list, highlighting its rapid growth and the increasing demand for accessible healthcare solutions.
Emily Rich, General Partner at M8 Ventures, will be joining the Hola Health board. "We are excited to lead this round of investment for Hola Health. Their innovative approach to on-demand healthcare, combined with their impressive growth and commitment to excellence, aligns perfectly with our investment philosophy. We look forward to supporting Hola Health as they continue to expand and redefine healthcare accessibility in Australia," said Rich.
The investment will be used to scale Hola Health's operations, expanding its reach to more consumers and corporate customers. The company has already established partnerships with HealthEngine, MedAdvisor, TerryWhiteChemmart, and features in the Uber Eats and DoorDash pharmacy online marketplaces, demonstrating its commitment to integrating healthcare services seamlessly into Australians' lives.
Hola Health raised a seed round in 2023 led by FundWA.
About us:
**About Hola Health**
Hola Health is an on-demand telehealth and medicine delivery business revolutionising healthcare in Australia. With a focus on fast, value-for-money care, Hola Health offers consultations and medicine delivery within 15 minutes, 24/7. Founded by Lenin Rajendran (CEO), Thiru Rajendran (CTO) and Dr Vishnu Gopalan (Chief Medical Officer), Hola Health is on a mission to make healthcare accessible to all Australians, leveraging technology to overcome the challenges of long wait times and limited access to primary healthcare services. More about Hola Health at http://hola.health
**About M8 Ventures**
M8 Ventures is a Sydney, Australia based venture fund manager cofounded by Emily Rich and Alan Jones and backed by some of Australia’s most-respected tech startup industry professionals. M8 Ventures backs world-class product-focused startups based in Australian and New Zealand. More about M8 Ventures at http://m8.ventures
Contact details:
For media enquiries, please contact Alan Jones at M8 Ventures at alan.jones@m8.ventures or +61414987069
