Reliance Health to expand the platform in emerging markets around the world, complement existing technology and hire top talent.
General Atlantic thrilled to anounce its first Technology investment in Africa
Headquartered in Lagos, Nigeria and Austin, Texas, Reliance Health has raised $40 Million in series B funding. It was led by global equity investor General Atlantic along with the participation from Partech, Picus Capital, Tencent Exploration, AAIC, P1 Ventures, Laerdal Million Lives Fund, Arvantis Social Foundation Impact Investment, and M3, Inc. Started in Nigeria in 2015 as a telemedicine-focused startup, Kangpe, founded by Femi Kuti, Opeyemi Olumekun, and Matthew Mayaki. It later expanded into a single-fee healthcare provider to better address the complex, evolving needs of patients. Reliance Health uses technology to bring more affordable and accessible healthcare to leading companies in emerging markets. It includes client such as Biersdorf Nivea, Jumia, PWC, Merrybet, Regus, and others.
This new Series B investment will accelerate Reliance Health’s efforts in expanding the platform in emerging markets around the world. It will also add new products that complement existing proprietary technology, facilities, and partnerships. Reliance will also leverage the funds to hire additional top talent as per the press release issued.
The Reliance Health CEO and Co-Founder Femi Kuti in a statement said Healthcare in emerging markets is often overlooked by private initiatives because it’s an extremely complex challenge to solve. At Reliance Health, by leveraging new innovations to break the constraints of legacy solutions, we believe there is an opportunity to solve some of these tough problems and even for aspects of healthcare in emerging markets to leapfrog to other parts of the world. We are excited to work with our investors towards bringing affordability and accessibility in healthcare to underserved markets, ultimately saving lives around the world,”
