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Indian Online Healthcare Marketplace Medypal.com Raises 1st Round of Seed Funding from Unitus Seed Fund

BANGALORE, India, January 13, 2014 /PRNewswire/ --

Commerzpoint Networks, who owns Medypal.com, has successfully raised their 1st round of seed funding from Unitus Seed Fund, an investment wing of Unitus group based out of Seattle and Bangalore.

The company will deploy the capital to launch the healthcare marketplace, Medypal, in India. Medypal offers a new experience to medical consumers at all income levels, by connecting them to multiple healthcare service providers such as hospitals, clinics who will "bid" for their business.

Expansion Plans: Talking on the expansion plans Mr. P Rammohan, founder Commerzpoint Network, says, "The global healthcare services market is growing exponentially. We plan to start our services from India, which has a market potential of USD 100 billion by 2015 and focus on expanding aggressively across geographies globally in a phased manner. We plan to cover healthcare providers in southeast Asian countries like Thailand, Malaysia and Singapore to drive Medical Travel business. We are in the process of signing up with more than 300 healthcare providers in Bangalore to launch our services from 1st Feb, 2014."

Medypal will revolutionize the way consumers select healthcare service providers using a "reverse auction method" to ensure that the services are competitively priced and patients get their best options. The portal and mobile app will enable users to choose healthcare service providers based on procedures, preferred location, pricing, and quality standards. An integrated video conferencing and chat facility helps users to interact effectively. To facilitate payment for services an electronic payment gateway is integrated in the portal. In order to reduce turnaround time from healthcare service providers on pricings & proposals, Medypal shall store patient records as per HIPPA guidelines.

Commerzpoint Networks was founded by serial entrepreneurs Mr. P. Rammohan and Dr. Brahmesh D. Jain, who have earlier co-founded and successfully exited Healthsprint Networks, India's first and largest health insurance exchange reaching 100 million people and 2,000+ hospitals. The vision of the founders is to build a global healthcare marketplace with direct impact and touching lives across the globe.

"We are investing in a team which has demonstrated success in scaling healthcare services to the masses," said Dave Richards, Managing Partner, Unitus Seed Fund. "They bring many relationships, networks and experience to developing a compelling solution for both patients and healthcare service providers."

Media Contact: [email protected]
Mr P. Rammohan: +91-98452-88752

SOURCE Medypal.com

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