Wednesday, March 22nd – NAIROBI – The Omnichannel Technology Company delivering health services TIBU Health, has closed an undisclosed Pre-Series A round led by Health54, the healthcare-focused corporate venture capital arm of CFAO Group. Similar to their Seed round, this financing round was oversubscribed by 50%. The funds raised will allow the company to strengthen its solutions dedicated to chronic diseases and to improve their virtual care platform.
In Africa, over 600 million people in Africa are unable to obtain the healthcare services they need when they need them and can spend up to 7 hours when seeking care. TIBU Health was founded in 2018 by a small team of health and technology experts in Kenya with one objective in mind: make it easier for people to obtain high quality healthcare services. The initial focus was on delivering healthcare service at home in a direct-to-consumer manner.
Over time, demand grew from patients and partners for virtual care and an in-person offering to compliment the home-based service from which TIBU was born. Since 2022, TIBU Health has transformed into a company that bridges the physical and digital spaces to offer patients and its business partners with care across three (3) strategic access points – home, virtual and ultra modern clinics (HERE).
“We’re particularly excited to develop our chronic disease program and address the alarming rise in incidence of chronic disease in Africa. Proceeds of this round will be used to make some strategic investments in our virtual care platform and adding a few ultra modern wellness hubs to make healthcare even easier for Nairobians. It will also fuel the acceleration of our growth by expanding our corporate sales team to keep up with the rising demands from partners around various wellness programs, including chronic conditions. People in Kenya will be seeing much more of us in the coming months”, says Jason Carmichael, CEO of TIBU Health.
The round was led by Health54, the healthcare-focused corporate venture capital arm of CFAO Group committed to promote innovative solutions tackling healthcare challenges in Africa. Health54 leverages the largest African healthcare network to support its investees scaling-up.
“After having played a key role during the covid period, Tibu Health managed to quickly adapt, build and launch one of the most efficient solutions enabling people to quickly access quality healthcare. As their new strategic partner, we are committed to contribute to make them a leading healthcare delivery solution in east Africa,” said Côme Vercken, Managing Director of Health54.
Since its inception as a purely B2C company, TIBU Health’s B2B offering has grown steadily at 20% month on month and is playing an increasing role in the company’s trajectory. The funds raised through Health54’s investment will be key to allow the Kenyan company to focus on this growing customer segment.
“We are extremely excited about the synergies that will be made from the partnership with Health54. Our interests are extremely aligned in using technology to address important access, quality and chronic disease challenges we currently see in Africa. CFAO’s existing footprint across 40+ economies in Africa, as well as its many partnerships and subsidiaries will help us scale our model and amplify our impact,” says CEO of TIBU Health, Jason Carmichael.
Additional partners include Boost VC, led by fourth generation Silicon Valley venture capitalist, Adam Draper. Other investors in the round include Google and Founders Factory, strategically backed by Netcare.
About TIBU Health
TIBU Health is an Omnichannel Technology Company that delivers health services where people live, work and click. The company adopts the latest, most advanced technologies in health and logistics to provide patients with a convenient and coordinated end-to-end healthcare experience that results in better health outcomes, healthier lives and with more time to spend on the things that matter to its patients.
Health54 is the Corporate Venture Capital fund of CFAO Group dedicated to healthcare. Health54 has been established to foster cooperation with young companies, bringing disruptive solutions to tackle social challenges of the healthcare industry in Africa. Health54 invests in startups offering innovative healthcare services and technologies and supports their growth by leveraging the group’s pan-African footprint.
TIBU Health : Health54 :
Sharon MUTUA Léonore MASCARELL