Funding round was led by AXA-backed Kamet Ventures and The Phoenix Insurance Company
Air Doctor, a technology platform providing a global medical outpatient network that connects travelers with local doctors, has raised a Series A funding round of $7.8 million from Kamet Ventures – the AXA-backed venture builder – and The Phoenix Insurance Company.
Founded in 2016, Air Doctor puts travelers in control of their health by connecting people who are sick abroad with local private physicians who are skilled at treating non-emergency conditions. The platform, currently available across 42 countries in 5 continents, allows patients to tap into a network of leading doctors that fit their location, language, specialty, and cost needs in a matter of minutes.
For the travel ecosystem including the insurance industry, credit card companies and mobile operators, Air Doctor offers a seamless digital solution that reduces claim and operational costs while increasing customer loyalty and satisfaction. To date, Air Doctor clients have seen an increase in insurance revenues by 30% and a reduction in claims related to doctors’ visits by 14%.
At a time of the COVID-19 global medical pandemic, Air Doctors’ partners understand the enormous benefits the solution can offer them on their customers’ journeys as well as on their claim costs. In addition, the service reduces the burden on local hospitals by sending stranded workers and travelers with no medical emergency to private clinics.
This latest round follows Air Doctor’s seed round of $3.1 million in July 2018. The new investment will be used to bolster Air Doctor’s medical network and R&D capabilities and for international expansion across the insurance, telecom, and credit card industries.
Jenny Cohen Derfler, CEO and Founder of Air Doctor, said, “Air Doctor is very privileged to have gained the trust and support of two leading European-based corporates. These alliances mean so much to us, acknowledging the market need for our digital solution for both the travel and health industries. We live in an age where the customer wants to have the power to choose, order, and receive any service from a tap on a screen. We are excited about this next chapter of growth for Air Doctor as we expand to even more geographies and continue to utilize technology to help people travel more comfortably and safely around the globe. We have the right product and the perfect team to make it happen.”
Dudi Oz, Head of Travel Insurance at The Phoenix Insurance Company said, “As their first corporate client, we saw first-hand the impact that Air Doctor’s unique offering had on our business and on our customer satisfaction. We are proud to be backing Air Doctor in this next stage of their growth as they seek to transform the travel insurance market globally. ”
Stephane Guinet, CEO of Kamet Ventures, said, “Over the past few years, we have seen consumer personalization become ubiquitous across many industries. We are proud to continue to be part of Air Doctor’s tremendous growth story as it revolutionizes traveler health insurance by delivering highly personalized care while significantly reducing costs for insurance providers.”