Nigerian e-health startup MDaaS Global, which operates a fast-growing healthcare network, has raised a US$3 million Pre-Series A round of funding to further develop its proprietary technology platform, BeaconOS.
Launched in 2017 with the rollout of its first diagnostic clinic for underserved communities, MDaaS Global has since expande to 17 locations across 10 states in Nigeria. Through a combination of its technology backbone and distributed care network, it has served over 275,000 patients to date, and currently supports over 1,300 healthcare facilities, companies, and HMOs, who rely on its BeaconHealth platform for their diagnostics needs.
The startup has secured a US$3 million Pre-Series A funding round, which was co-led by Aruwa Capital Management and follow-on investor Newtown Partners, and also featured Ventures Platform, one of the company’s earliest institutional investors. The new round of financing brings MDaaS Global’s total investment to date to US$6.8 million.
The additional capital will be used to further develop the company’s proprietary technology platform, BeaconOS, which it launched last year, and to expand its healthcare network to all 36 states in Nigeria through a mix of company-owned and affiliate clinics. This strategic move propels MDaaS Global closer to its mission of democratising access to high-quality diagnostics and healthcare services across the continent.
BeaconOS, the company’s latest technology, serves as the digital backbone of MDaaS Global’s healthcare network, akin to a computer’s operating system, that optimises and connects their physical clinics, which act as the ‘hardware’. Built on top of BeaconOS are a suite of applications designed both to streamline healthcare delivery at BeaconHealth clinics and to digitally integrate with the company’s diverse network of partner organisations.
“Years of operating within Nigeria’s healthcare system have given us a deep understanding of its challenges and points of friction. At MDaaS Global, we’re leveraging this experience to develop technology uniquely tailored to the African healthcare experience. BeaconOS isn’t just about solving our own challenges; it’s empowering our patients and partners with solutions customised to their needs and revolutionising healthcare delivery across Africa,” said CEO Oluwasoga Oni.
With this injection of capital, the company will develop new applications on the BeaconOS platform that solve critical issues in the healthcare system.
Adesuwa Okunbo Rhodes, founder and managing partner at Aruwa Capital Management, said she was “thrilled” to partner with MDaaS Global on its mission to revolutionise healthcare delivery in Africa.
“MDaaS’ track record of consistent and impressive growth, as well as their dedication to bringing high-quality diagnostics to high-need patients, resonated deeply with us. As a gender-lens investor, we are especially excited to support a company that is driving change for women across Nigeria – over 60 per cent of BeaconHealth patients are women, predominantly of reproductive age – and MDaaS shares our commitment to building gender-diverse teams,” said Rhodes.
