[Exclusive] ABC Clinic Manager Just Received Millions of Dollars In Series A Financing

According to VCBeat, On May 20, 2019, ABC Clinic Manager just completed millions of dollars in Series A financing. This round of financing was led by Zhen Fund and followed by Matrix Partners China.

ABC Clinic Manager is an online product that tailored for clinics and community hospitals. It provides a complete set of tools for these hospitals that include electronic medical records, general diagnosis, drug management, chain operations and other core services (HIS/CIS) to help these hospitals to improve their efficiency. The company also developed cloud base medical services (CDSS) to improve the quality of diagnosis, and lower the risk for the patients.

The funds from this round of financing will help to improve the services quality of countless small clinics and community hospitals in China. The funds will also improve the quality of ABC Clinic Manager to gain more loyal customers to earn more profits.

The CEO of ABC Sha Mo expressed that "in the past few years, the medical sector got more than 200 billion RMB of investment, and most of the technology and funds have flocked to public hospitals. That's why there are widespread shortages of doctors, technology, management, and funds in community hospitals and private medical institutions. We hope to bring technology and products to grassroots hospitals to help these health institutions to improve their operational efficiency and management, so they can make more profits".

At present, the product is in the early stage and has not been wildly promoted yet. Hundreds of early customers have used the product for more than half a year. From the usage situation, we can tell that people are loving the product and the customer bounce rate is close to zero.

ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 600 portfolio companies, including over 10 unicorns based in China.

Matrix Partners is a US-based private equity investment firm focusing on venture capital investments. The firm invests in seed and early-stage companies in the United States and India, particularly in the software, communications, semiconductors, data storage, Internet or wireless sectors. The firm is headquartered in Palo Alto, California and has offices in Cambridge, Massachusetts, Mumbai and China.