Singaporean telehealth platform ORA has raised a $10 million USD Series A funding. This is the largest telehealth Series A in South-East Asia and was co-led by TNB Aura and Antler with participation from Gobi Partners, Kairous Capital and GMA Ventures, bringing total funding to date above $17 million USD.
Since its 2021 launch, ORA has delivered over 250,000 consultations and uninterrupted monthly growth.
ORA has launched three brands that serve the modern patient living with chronic conditions, making treatment more accessible, convenient and personal.
Modules is a first to market online dermatology experience making personalised, prescription skincare accessible with 676 different formulations, andSons offers male health solutions and OVA delivers female reproductive healthcare.
Founded by former ZALORA CMO Elias Pour, ORA is uniquely positioned with a diverse, proven leadership team with rich backgrounds across health, tech and consumer brands.
Backed by a robust medical advisory board, ORA’s R&D team draws on experience from
L’Oréal and Sephora creating high-touch products and experiences that are IP’d and 100%
in-house developed.
With a strong attention to customer experience, first to market solutions like Modules,
andSons and Ova are meeting modern customer expectations head on. These interactions are translating into deeper patient relationships, building retention rates only rivalled by
subscription models like Netflix and unrivalled within the industry.
90% of ORA’s patients are first to condition, under 38 years old and have never been treated before. The disconnect between this younger patient population and the traditional
healthcare model is ORA’s biggest opportunity. These new patients have a different set of
demands such as flexibility and speed which ORA’s telemedicine model is perfectly placed to treat.
ORA’s seamless end-to-end experience joins up the fragmented traditional model, linking consultation, education, pharmacy, delivery and post purchase care for unparalleled convenience.
“ORA is on a mission to deliver high touch, high-quality care to millions of patients and with our continued growth story throughout SEA, we are thrilled with today’s announcement.” said Elias Pour, ORA’s founder and CEO.
“ORA has had over 6 million patient touch points provide us with valuable health data through extensive health evaluations and consultation online. This has brought unique insights into these patient’s healthcare expectations that has and will inform future innovations with our key partners.”
“We have the high growth potential of DTC, with a very high percentage of healthcare expenditure in our region being out of pocket. This is powered by an underlying SAAS type of recurring revenue, with subscriptions counting for more than 70% of our revenue and our retention is better than Netflix with 10x the monthly order value.
With this new round of funding ORA will seek to expand its presence into new territories, both geographically and with new offerings. Later this year ORA’s brands will arrive in retail across 1300 tier one stores bringing its accessible, medically-backed range of products to shelves. Looking at different geographies there are opportunities to expand into regions like the GCC.
Charles Wong, Founding Partner at TNB Aura commented, “Since ORA’s early days, TNB
Aura has been a firm believer and strong supporter of Elias and the ORA team in their
unwavering mission to provide access to affordable high-quality healthcare. Their combined
focus on specialised, and often taboo, healthcare verticals as well as a direct-to-patient
approach has led the team to clearly differentiate itself while delivering market-leading unit
economics that meet the tailored needs of patients across the full value chain.”