Singapore-based telehealth platform, Ora, is revolutionizing the telehealth industry with its innovative vertically-integrated strategy. With a significant majority of its patients, approximately 90%, aged under 39 years old and solely relying on telehealth for their medical needs, Ora has developed a tailored approach to address this unique challenge. By placing a strong emphasis on skincare-related health issues for both men and women, the company aims to establish an end-to-end or 360 platform that encompasses consultations, prescription delivery, and post-care services.
In a groundbreaking move, Ora recently secured an impressive $10 million in a Series A funding round, marking it as the largest telehealth investment in Southeast Asia. The funding was led by prominent investors TNB Aura and Antler, alongside Karious Capital, Gobi Partners, and GMA Ventures. Since its establishment in 2020 by Elias Pour, former Chief Marketing Officer (CMO) of Zalora, Ora has raised a total of $17 million in funding.
Pour’s decision to venture into the telehealth industry was influenced by his experience at Zalora, where he witnessed a growing consumer trend of investing in personal appearance and overall well-being. This increasing desire for self-enhancement, including improvements in hair, skin, weight, and general health, motivated Pour to explore better ways to serve this sector effectively.
Pour noted Southeast Asia has one of the highest healthcare expenditure rates globally, making it less challenging to persuade consumers to pay directly for healthcare services. Recognizing this untapped market, Ora has successfully facilitated over 250,000 doctor consultations over the years and has expanded its services to include medication delivery, pharmacy services, and post-purchase care. Subscription-based services account for approximately 70% of the company’s total revenue.
Currently, Ora manages three distinct brands to cater to various healthcare needs. Modules, the first brand, is an online platform dedicated to dermatology consultations and skincare prescriptions. andSons, the second brand, focuses on men’s healthcare, addressing specific concerns related to their well-being. Lastly, OVA is a curated platform specifically designed for female reproductive healthcare.
Ora’s success can be attributed to its ability to meet the demands of its predominantly younger consumer base. Younger demographics seek flexibility and convenience in healthcare services, which Ora provides through its user-friendly platform and swift service delivery.
Pour founded Ora to bridge the gap among patient populations in Southeast Asia, with a firm belief that digitalization will dominate approximately 80% of healthcare services in the near future. With its vertically-integrated approach and continuous growth, Ora is poised to reshape the telehealth landscape and provide accessible, efficient, and personalized healthcare solutions for the region’s population.