Funding boost for on-demand telehealth provider Hola Health
Hola Health, an Australian telehealth and medicine delivery company, has received AU$4.5 million in funding to support its mission to provide fast, value-for-money, 24/7 ’on-demand’ health care within 15 minutes.
The Pre-Series A venture 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, said, “This investment is not just a financial boost but a strong vote of confidence in our vision to make primary health care 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 was recognised 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,” Rich said.
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 and 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.
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