“We had a great experience working with the Signal Hill team. They were very instrumental in expeditiously helping us close this landmark Series B financing.”
Portea Medical announces $37.5M Series B funding from Accel Growth and International Finance Corporation (IFC)
Signal Hill India is pleased to announce that its client, Portea Medical, India’s leading online home healthcare company, has raised a $37.5 million Series B round led by Accel Growth. International Finance Corporation (IFC), a member of the World Bank Group, and existing investors Accel India, Qualcomm Ventures and Ventureast also participated in this round.
Portea will use the latest investment to fuel the company’s expansion in India, where it currently operates across 24 cities and handles 60,000 house call visits per month. It will also utilize the funding to grow in other Asian markets, including Malaysia, where it already provides services in four cities. To fuel its growth across the region, Portea plans to recruit an additional 5,000 employees over the next 18 months, adding to its current staff of 3,000. Arun Mathew, a Principal with Accel Growth, the investment firm that led investment in other Indian startups like Flipkart, BookMyShow, FreshDesk and others, joins Portea’s Board of Directors.