SaaS company THB raises $20mn growth equity round, led by Filter Capital, Edelweiss

THB will use the funds in expanding its operations globally and accelerating growth in existing countries across South Asia, Middle East and South East Asia; THB serves hospitals, pharmaceutical, diagnostic labs, primary care, consumer health, payors, and med-tech companies.

Leading enterprise healthcare SaaS company THB (Technology l Healthcare l Big Data Analytics) has announced a $20 million funding in a growth equity round led by Filter Capital and Edelweiss Discovery Fund Series – I. Cornerstone Venture Partners Fund (CSVP) and Healthquad, among others, also participated in the funding round.

THB plans to use the funds in expanding its operations globally and accelerating growth in existing countries across South Asia, Middle East and Southeast Asia. The funding will also allow THB to expand its product portfolio and invest in growing global presence.

THB serves large healthcare enterprises to drive digital, data, and technology adoption with their data management platform, and a suite of software solutions across more than 20 use cases, including patient engagement, doctor engagement, clinical customer relationship management, analytics automation, customer care automation, and real-world evidence, among other things.

THB currently serves a wide spectrum of customers in the healthcare industry, including hospitals, pharmaceutical companies, diagnostic labs, primary care, consumer health, payors, and med-tech companies across markets in emerging Asia including India, Bangladesh, Sri Lanka, UAE, KSA, Indonesia, Singapore, and Malaysia.

The company is led by Akansh Khurana (a former Bain & Co. executive), Rohit Kumar (former analytics professional at American Express), Rajesh Pachar (ex-Microsoft), Kritika Tandon (ex McKinsey consultant), and Dr. Chirag Adatia (ex McKinsey Partner).

THB’s 300+ software and data engineers, doctors, consultants, and analysts provide deep clinical insight while delivering measurable outcomes to its enterprise customers. It currently serves over 150 healthcare enterprises across more than 10 countries.

“Healthcare Big Data Technology presents an enormous opportunity for growth in this decade. THB aims to provide its customers with a comprehensive suite of data use-cases, enabling them to fully leverage their healthcare datasets and achieve tangible growth,” said Akansh Khurana, MD & Group CEO, THB.

In a similar context Ashish Agarwal, Managing Partner, Private Equity, Edelweiss Asset Management, said that the company is playing an important role in the healthcare segment and is positioned to become a “premier health-tech company across India & International markets in the region.”

“The company is playing a vital role in helping healthcare providers, pharma companies, and other healthcare segments to unlock the full potential of data. THB’s suite of solutions empowers healthcare enterprises to efficiently grow and deliver effective customer experiences,” said Agarwal.

Investec Capital and Antares Legal were the advisors to the transaction.