Spring Rain Completes USD 50 Mln Series C Funding
Sina Tech, 8/19/14
Beijing-based Spring Rain Software ("Chunyu Tianxia"), developer of mobile healthcare app Spring Rain Palm Doctor ("Chunyu Zhangshang Yisheng"), announced today the completion of Series C funding totaling USD 50 mln from China International Capital Corporation Limited (CICC), Rushan Investment Management, and Pavilion Capital. BlueRun Venture Capital, which previously participated in the company's first and second rounds of funding, also made a USD 7-digit investment as part of the new round.
Spring Rain Palm Doctor has 3 mln registered users, with 40,000 registered doctors on the platform and 50,000 health consultations provided on the app daily.
Zhang Rui, CEO of Spring Rain, stated that the new round of funding will be used to expand the app's user base and number of doctors on the platform, as well as to undergo larger-scale monetization through better cooperation with hospitals, pharmaceuticals manufacturers, and drug stores. Spring Rain is also currently in negotiations with wearable device manufacturers, insurance companies, and other related industry players.
Editor's Note: For more information on this topic, please see "Spring Rain Wins USD 3 Mln Series A Funding," MD 4/10/12 issue, and "Healthcare App Developer Spring Rain Wins Series B Funding," MD 8/08/13 issue.
Keywords: Pavilion Capital Rushan Zhang Rui wireless BlueRun mobile healthcare Chunyu Tianxia China International Capital Corp Spring Rain Doctor third-round funding VC
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