The online health directory is looking to follow up a $9.6m round from Telstra and Seven West Media last year with up to $9.2m of new capital.
HealthEngine, an Australia-based online health practitioner directory backed by two local companies’ corporate venturing units, is reportedly preparing to raise a further A$5m to A$10m (US$4.6m-US$9.2m).
Marcus Tan, CEO of HealthEngine, told news provider The Australian that the group would raise funds “in the near future” to support its growth plans.
HealthEngine has also added Mark Buckman, managing director of media and marketing for telecommunications company Telstra, to its board, which already includes Matthew Koertge, managing director of Telstra Ventures Australia.
In May 2013 HealthEngine raised A$10.4m (US$9.6m) from Telstra’s corporate venturing unit and Australian media group Seven West Media, which owns Seven Television, Yahoo7, and Pacific Magazines.
Telstra Ventures and Seven West Media each invested A$5.2m of cash and value-in-kind for the stake.
