Healthtech unicorn Pristyn Care on scaling business post latest fundraise
Gurugram-based, a healthtech company founded in 2018, is a part of the surgical care ecosystem of India. Last year, the company secured about $100 million in a Series E round of funding led by Sequoia Capital US and entered the unicorn club at a valuation of $1.4 billion.
Commenting on the fundraise, Harsimarbir Singh, Co-founder, Pristyn Care says that the fresh capital is a new milestone for Pristyn Care.
“We are in a very operationally intensive industry. We are trying to serve patients who are trying to undergo a surgical journey,” he says. The round of capital gives the company more responsibility to ease out the journey of their patients.
Pristyn Care founders (from left): Vaibhav Kapoor, Harsimarbar Singh and Garima Sawhney
According to Harsimarbir the nearly $100 million fresh funding will be used as a war chest for the company. Apart from that, Pristyn Care serves different categories such as ophthalmology, ENT, gynecology and not all the categories are operational in the 40 cities that the company is present in. Thus, the capital is going to be used to expand all the categories to the 40 cities.
Additionally, the company has plans of geographical expansion as well as going deeper into existing cities. Brand building will also be a focus area for Pristyn Care in terms of fund use.
Pristyn also plans to double down on technology investments. “The entire existence of Pristyn as a business is improving patient experience,” says Harsimarbir and thus the company will focus on investing in patient experience and patient care.
Harsimarbar shares that Pristyn Care will undertake almost 1,00,000 surgeries in the next one year and therefore the key focus for the company will be to scale patient experience and intervention of technology. Brand building, bringing onboard solid leadership, improving interaction with the patient will be the key pillars of focus for the company in the upcoming future.
Talking about categories, he says that Pristyn Care is a full-stack healthcare provider and a surgery ecosystem. Categories that have been in focus for the company are ophthalmology, urology, general surgery, gynecology, breast surgeries, etc. “Pristyn is going to become one of the largest patient ecosystems of cataract and lasik in the next one year so there's going to be a lot of focus on that,” says Harsimarbir.
In terms of revenue, Harsimarbir says that the company has grown by almost 4.5-5x and with the new capital. The company plans to scale its revenue by another 4-5x in 2022.