Healthtech startup DXY raises $500 million for China’s leading online healthcare platform
As Chinese people’s awareness of health and consumption rises and changes, the medical and health industry is accelerating its development in the online landscape. DXY is a China-based health tech startup founded with the mission of providing a knowledge and information exchange platform for doctors. DXY is the leading online healthcare and information portal in China with a community of over 3 million health care providers (HCP) and over 20 million health-conscious consumers who know and trust the DXY brand.
Today, to further accelerate growth and expand its platform, DXY announced it has closed $500 million in funding led by Trustbridge Partners, with participation from Tencent Investment and GL Ventures. DCM was an early investor in the company, leading its Series A. To date, DXY has raised a total of $660 million in total funding.
In July 2020, DXY released a “dual-core strategy” that connects its brand focusing on the public DX Doctor with its brand targeting physicians DXY.cn, to gather professional strength and offer reliable products.
Founded in 2000 by Li Tiantian, DXY is the leading healthcare platform in China with both B2B and B2C offerings: doctors leverage the platform to continue their education and find new job opportunities while consumers use the platform for product and wellness recommendations. Since its inception 20 years ago, DXY’s platform now serves a cumulative 130 million consumers, more than 9,000 medical institutions, and 50,000 doctors who are engaged in an online consultation. DXY’s customer base includes Eli Lilly, Pfizer, and AstraZeneca.
Li Tiantian said that the company will, driven by both two ends – physicians and the public, strengthen collaboration with professional doctors and enterprises, so as to give play to the expertise of all sides and be a guide for a healthy living.
With this financing, DXY plans to keep consolidating its core pillar – physicians’ expertise, supporting the growth of Chinese doctors; and in the meantime, it will reach a closer partnership with doctors, enterprises, medical institutions, and other professional resources to explore more medical and health scenarios. Through a professional, credible, sustained, and holistic portfolio delivered by DX Doctor, the company aspires to improve the quality of Chinese people’s healthy life and fulfill the vision of “MORE HEALTH, BETTER LIFE”.
In response to the COVID-19 pandemic, DX Doctor – a platform operated by DXY, took the lead in introducing a COVID-19 Global Pandemic Real-time Report, which has become a major source of global data on the pandemic. Meanwhile, it promptly launched public welfare products such as science popularization and rumors refutation articles, online free consultations, and COVID-19 open classes at both physician and public ends. With these products generating more than 8.6 billion visits/ views, DXY has contributed a lot to the global fight against the novel coronavirus.