Hola Health secures $4.5 million to slash wait times with on-demand telehealth

Perth-based telehealth startup Hola Health has successfully closed $4.5 million in pre-series A funding. The round was led by M8 Ventures, with additional contributions from FundWA and several angel investors.

The investment aims to propel Hola Health’s mission to offer on-demand healthcare services across Australia, ensuring that primary healthcare is both accessible and immediate for Australians, regardless of their location.

The company says that its promise of delivering fast, value-for-money healthcare services within 15 minutes, 24/7, comes at a critical time when patient wait times have become a pressing issue nationwide.

Hola Health highlighted that half of all patients seeking urgent GP care have to wait over 24 hours. This issue is even more pronounced in regional areas, exacerbating the healthcare divide between urban and rural communities.

Hola Health’s rapid response to this growing demand for accessible healthcare solutions was recently acknowledged by its inclusion in the 2023 AFR Fast Starters list, a testament to the company’s growth and its contribution to easing healthcare access.

With the new funding, Hola Health is set to accelerate its expansion plans, extending its reach to more Australians and preparing to enter its first international markets.

“This investment is not just a financial boost but a strong vote of confidence in our vision to make primary healthcare accessible and immediate for all Australians,” said Lenin Rajendran, co-founder and CEO of Hola Health.

“We’re now set to fast-track our growth, bringing our services to even more people across the country, and preparing for our first international markets.”

Adding to the company’s strategic growth, Emily Rich, general partner at M8 Ventures, will join the Hola Health board.

“We are excited to lead this round of investment for Hola Health. Their innovative approach to on-demand healthcare, combined with their impressive growth and commitment to excellence, aligns perfectly with our investment philosophy,” Rich said.

“We look forward to supporting Hola Health as they continue to expand and redefine healthcare accessibility in Australia.”

Hola Health’s strategy includes scaling operations and expanding its consumer and corporate customer base. The company has already formed key partnerships with notable entities such as HealthEngine, MedAdvisor, and TerryWhite Chemmart, and has made its services available through the Uber Eats and DoorDash pharmacy online marketplaces, indicating a clear commitment to integrating healthcare seamlessly into the daily lives of Australians.