As the Chinese healthcare market continues to boom, Ping An Good Doctor, a medical service mobile app, backed by Ping An Insurance Group , announced on Thursday a Series A funding round of a total of US$500 million.
Set up in April last year, the app has hit a reported valuation of US$3 billion, with 77 million registered users and more than 50,000 doctors, Xinhua reported.
The app has recruited 1,000 full-time medical professionals and partnerships with 50,000 doctors from public and private hospitals as of last month.
Domestic Internet giants and various investors are racing to raise funds to compete for the dominant position in China s digital healthcare market.
Tencent-backed doctor appointment website Guahao.com, reportedly with links to 100,000 Chinese doctors and 37 million users, raised nearly US$400 million in September last year, led by Hillhouse Capital, Goldman Sachs and Tencent Holdings.
Ali Health, Alibaba s healthcare subsidiary, launched a mobile application in Beijing late last year to connect doctors from grassroots medical institutions and nearby residents.