Completes a series E funding to drive next phase of growth
Funding from Impact multi-strategy fund focused on supporting UN Sustainable Development Goals
Healthengine with Inspire Impact announce the completion of a series E funding round, securing up to $30m for Healthengine in a deal to drive the company’s next phase of growth and support future acquisition.
The funding comes from Inspire Impact’s recently announced $350m Impact multi-strategy fund which focuses on investing in themes along the UN Sustainable Development Goals and in parallel, measures the real financial and societal or environmental impact it creates for investors and for the world.
“Being connected with Inspire Impact’s social impact fund for our next phase of growth is very exciting and aligned with the values of Healthengine as we continue to succeed and improve healthcare outcomes and experiences for Australians,” said Dr Marcus Tan, Healthengine co-founder and CEO. “With the impact investment from Inspire Impact, we can do even more and continue this work to help people navigate the complex world of healthcare by making it more affordable, convenient and certain.”
Healthengine and Inspire Impact developed key impact targets for the company to benefit the business and society as a whole. The impact targets are focused on expanding access to and quality of healthcare and reflect the UN Sustainable Development Goal of Good Health and Wellbeing.
“Our team is focused on the social and community footprint of each investment we make and we see that as consistent with delivering strong financial returns for our investors. We are excited to partner with Healthengine and its mission to improve inclusivity of health and wellbeing for people in Australia,” said Brad Lancken of Inspire Impact.
As part of the investment, Brad Lancken will join the Healthengine Board alongside representatives of existing institutional backers Telstra Ventures, Seven West Media and Sequoia Capital.
Ad Astra acted as independent financial advisor for Healthengine.
Healthengine is Australia’s largest consumer healthcare platform developed to help people navigate the complex world of healthcare. Healthengine is on a mission to transform humanity’s health, one care experience at a time. Healthengine’s platform brings together a leading range of healthcare providers, healthcare specialities and health ecosystem partners in a suite of integrated offerings to help consumers get a better experience across each step of their healthcare journey.
Founded in 2006, Healthengine now has more than 3.9m users connecting with over 7,400 Australian healthcare providers across the spectrum of GPs, dentists, allied health practitioners, medical specialists and pharmacies nationwide. Over Healthengine’s history, more than 10.4 million Australians have made more than 54 million bookings on the platform. To find the right care, connect with healthcare providers and manage healthcare, all in one place, visit healthengine.com.au or download the Healthengine App for Android or iOS. For healthcare providers, please visit practices.healthengine.com.au to learn more and join Australia’s largest network of patients.
About Inspire Impact
Inspire Impact is a profit for purpose organisation that seeks to invest into a range of assets that explicitly and positively impact the society and environment in which we all live. We believe that tangible and measurable social and environmental benefits can be achieved alongside top-tier investment grade returns.
Inspire Impact is part of a broader investment eco-system. We are three organisations designed to complement and support the other and to ensure we’re creating a business and community that’s future-focused and building a better tomorrow.