Israel global medical outpatient network Air Doctor has completed a $7.8 million Series A financing round of $7.8 million from AXA backed venture capital fund Kamet Ventures and The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5).
Founded in 2016, Air Doctor connects travelers who are sick abroad with local private physicians. The platform is available in 42 countries, and allows patients to tap into a network of doctors that fit their location, language, specialty, and cost needs.
For the travel ecosystem including the insurance industry, credit card companies and mobile operators, Air Doctor offers a seamless digital solution that reduces claim and operational costs while increasing customer loyalty and satisfaction. To date, Air Doctor clients have seen a 30% increase in insurance revenue and a 14% reduction in claims related to doctors’ visits.
During the Covid-19 pandemic, Air Doctors’ partners understand the enormous benefits the solution can offer them on their customers’ journeys as well as on their claim costs. The service also reduces the burden on local hospitals by sending stranded workers and travelers with no medical emergency to private clinics.
This latest financing round follows Air Doctor's $3.1 million seed round in 2018. The new funds will be used to bolster Air Doctor’s medical network and R&D capabilities and for international expansion across the insurance, telecom, and credit card industries.
Air Doctor founder and CEO Jenny Cohen Derfler said, "Air Doctor is very privileged to have gained the trust and support of two leading European-based corporates. These alliances mean so much to us, acknowledging the market need for our digital solution for both the travel and health industries. We live in an age where the customer wants to have the power to choose, order, and receive any service from a tap on a screen. We are excited about this next chapter of growth for Air Doctor as we expand to even more geographies and continue to utilize technology to help people travel more comfortably and safely around the globe. We have the right product and the perfect team to make it happen."
Published by Globes, Israel business news - en.globes.co.il - on April 1, 2020
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