Singapore-based Ordinary Folk raised Monk’s Hill led $5 M Pre-Series A funding
Ordinary Folk, a Singapore-based telehealth firm, has raised $5 million in pre-Series A investment led by Monk’s Hill Ventures.
The funds will be used to expedite talent acquisition in order to create a unique customer experience in healthcare through technology, expand to other markets (Hong Kong and Japan), and scale in Singapore.
Ordinary Folk intends to employ top engineering talent in Vietnam, as well as in product development, growth, and design in Singapore, Hong Kong, and Japan.
Ordinary Folk, which was founded in 2020, combines its two consumer systems, Noah and Zoey, which include a distributed compliance medical network, electronic medical record (EMR), digital prescriptions, cloud pharmacy, and last-mile fulfilment.
Noah is a men’s telehealth platform that integrates several areas of care, such as sexual health, mental wellness, hair care, and weight management, to provide the resources necessary for a better, more seamless patient experience. Zoey, on the other hand, provides a judgment-free environment for women to seek sexual wellness, fertility, mental health, and wellbeing medical answers.
Ordinary Folk plans to use a portion of the cash acquired in this round to extend its B2B partnerships with businesses in order to supply its employees with ‘Noah’ and ‘Zoey’ services.
The healthtech business claims to have seen a 130 percent increase in income and over a million unique visits.
“Millions of people across Asia find it difficult to access proper treatment and care for health conditions with huge taboos attached. Our mission is to use technology to simplify the patient experience. Sixty per cent of total health expenditure in Southeast Asia is out-of-pocket, making treatments for many prevalent health conditions costly,” said Sean Low, founder of Ordinary Folk.
“We realised the need for a frictionless experience, from discovery to delivery. This is why it was essential for our digital health platforms to create access to doctors and medical solutions for sexual health, hair care, fertility, mental health and overall wellbeing together,” added Low.
