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Melbourne-based healthcare startup Kismet has secured $8.2 million in seed funding led by US-based technology investor Prosus Ventures and Australia’s Airtree Ventures, in a clear sign of the fast-growing company’s global potential.
The latest capital raise takes total capital secured by Kismet to $10.8 million since it was founded in February last year, which CEO and co-founder Mark Woodland says reflects on the company’s meteoric rise.
“Our first year has been transformative, evolving from an initial concept into a worldwide community,” says Woodland.
“This injection of funds is more than just a financial milestone; it represents a significant advancement in our quest to democratise healthcare access globally.”
The investment by Prosus and Airtree is backed up by Woodland’s success in a previous successful venture, Xplor – a childcare management platform that originally helped parents track their child’s early learning journey in real time.
Xplor, which was founded in 2015 and is now known as Xplor Technologies, is a global platform offering SaaS solutions for businesses in 'everyday life' verticals such as childcare and Education, and fitness and wellbeing.
The Kismet platform is said to be ‘revolutionising appointment scheduling and streamlining insurance integration’, which in turn helps drive down healthcare costs and make essential services more accessible and affordable.
Woodland says the company has rapidly expanded its reach in the past year, providing access to more 35,000 providers and support coordinators, advancing Kismet’s goal of ‘democratising healthcare access worldwide’.
Kismet says it ‘champions an inclusive healthcare model that transcends traditional boundaries, fostering a unified online ecosystem that empowers care receivers, coordinators and providers alike’.
The latest capital raise will be used by Kismet to fast-track its expansion plans by adding to its team and building an international presence.
“Kismet is defining a completely new category in healthcare – positioned at the unique intersection of software, healthcare, ecommerce and payments,” says Sachin Bhanot the regional head of investments at Prosus Ventures.
“It is Australia’s first comprehensive digital ecosystem player, with a founding team with demonstratable experience and success.
“We’re thrilled to lead this investment round and support the company as it seeks to redefine the caregiving experience.”
Among Kismet’s offerings is its support for people grappling with caregiving responsibilities for elderly parents or young children.
The company says its cutting-edge platform has been designed to alleviate caregiving pressures across the age spectrum, offering a comprehensive digital ecosystem tailored to the unique demands of the global in-home, disabled and aged segments.
By seamlessly integrating care recipients, coordinators, and service providers, Kismet streamlines the healthcare journey, automating appointment bookings based on available insurance options.
Elicia McDonald, partner at Airtree, says the investment in Kismet is founded on the company’s growth potential.
“Kismet, led by a robust management team and active community support, is charting a course towards monumental change” says McDonald.
“Having witnessed the team’s prior success with Xplor, we are enthusiastic about partnering again with Kismet to revolutionise healthcare accessibility.”
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