Symptom checker Healthily raises $20m for US expansion
Summary
With a focus on English-speaking markets it has had approximately 30m users in the last 12 months, according to CEO Matteo Berlucchi.In 2020 it raised \xa325m from Reckitt Benckiser, the FTSE100 consumer health goods group. The plan was then to grow in India but due to what Berlucchi calls a slow market, the company is still looking for suitable partners there and has yet to launch.Now it will focus on the US, where it has landed a partnership with retail giant Walmart. According to Berlucchi, its partnership with Walmart has already opened up discussions with a range of other potential healthcare partners.The company is also trying to become a Google for health by adding medically verified content to its website to help users find information on symptoms and treatments. It hopes this will boost its brand recognition and build trust with users.The most recent round of $20m was raised from existing shareholders including Reckitt, Norwegian investors Orkla Ventures, Smedvig Capital, Canica and others.Healthily is not alone in offering an AI health tracker. The consumer space, by contrast, will probably be hijacked by large tech companies like Google and Apple that have already shown an interest in this area and also other startups with wearables products, such as smart rings or watches, which can quickly pick up outbreaks and symptoms related to other diseases.Walmart is likely to open some doors for Healthily but will it be enough to grow big in the US?Mimi Billing is Sifteds Nordic correspondent.