Traveling abroad often brings its own set of challenges, and one of the most significant concerns is navigating healthcare if you fall ill. Finding a doctor who speaks your language, accepts your insurance, and can provide care without the stress of an unfamiliar hospital can be daunting. Addressing this issue, Air Doctor has developed a platform specifically designed to assist travelers in locating healthcare professionals while abroad. The startup has successfully raised $20 million in a Series B funding round, reflecting strong demand for its services.
At its core, Air Doctor combines elements of a directory, a location-based service, and an accounting platform. The service offers a directory of vetted doctors across various countries, complete with profiles detailing their specializations and language capabilities. Users can browse this directory for both in-person and remote consultations.
Simplifying Healthcare for Travelers
A standout feature of Air Doctor is that patients do not pay doctors directly or have to deal with insurance claims themselves. Instead, Air Doctor matches customers’ insurance policies with the services provided and manages the reimbursement payments from insurance companies to the doctors.
While Air Doctor charges a service fee and a commission, it claims to deliver significant savings:
- 50% savings on outpatient claims overall
- 60% savings for medical assistance providers
- 75% reduction in handling and processing times
With over 80,000 customers, Air Doctor has formed partnerships with 18 major health insurance providers and now boasts a directory of 20,000 doctors across 84 countries. The company has evolved from a direct-to-consumer (B2C) model to a business-to-business-to-consumer (B2B2C) approach, collaborating with insurance companies that refer individuals to its service.
Strong Growth Amid Increasing Travel
According to CEO and co-founder Jenny Cohen Derfler, the company is experiencing remarkable growth, with revenue increasing by 2.5 times annually. Coupled with a rising number of international travelers—approximately 790 million people traveled abroad in the first seven months of 2024, according to UN estimates—the potential for expansion is immense.
Although Air Doctor faces competition from other startups addressing travelers’ health needs, such as Feather, which focuses on insurance for expatriates, its unique model positions it well in the market.
Backing from Notable Investors
Air Doctor’s recent funding round highlights the promising opportunity the startup presents. The round is led by aMoon, an Israeli venture capital firm focused on health and life sciences, alongside new investors like Tokio Marine Holdings and Samsung Ventures (SVIC). Previous investors, including Lightspeed Venture Partners and Munich Re Ventures, also participated.
Investors emphasize the technological advancements being developed by Air Doctor. Todd Sone, a general partner at aMoon, stated that the company is “leveraging advanced algorithms and app-based solutions to provide timely, quality medical care for travelers worldwide.”
A Personal Journey to Founding Air Doctor
Derfler’s inspiration for founding Air Doctor is deeply personal. She describes herself as a “nomad,” having originated from Uruguay and traveled extensively across South America before settling in Israel. Her son, Yam Derfler, who is also a co-founder, conceived the idea for the startup after a challenging experience while traveling in South America.
When he fell ill, he struggled to navigate the local healthcare system, ultimately opting for a hospital visit that was fraught with complications. This experience sparked a realization that both travelers and insurance companies lacked a clear method for connecting with doctors in foreign countries.
To address this gap, the co-founders began building Air Doctor. They encountered numerous challenges in establishing a network of doctors, which required them to travel to their initial target country, Greece. Derfler recalled the difficulties they faced, such as language barriers with receptionists and navigating unfamiliar locations.
To expand their database, they employed various strategies, including contacting embassies for recommendations and leveraging word-of-mouth referrals from existing network doctors. Prior to the COVID-19 pandemic, Air Doctor had already onboarded 10,000 doctors, with another 10,000 joining over the past two years.
The startup is now focusing on its collaboration with insurance companies to gain insights into travel patterns and common health concerns, allowing it to refine its network effectively.
Funding Milestones and Future Directions
To date, Air Doctor has raised a total of approximately $50 million, including its Series A in 2020, although it has not disclosed its current valuation.
Important Takeaways
- Funding Acquisition: Air Doctor raised $20 million in Series B funding to enhance its services for travelers.
- Unique Platform: Combines a directory of vetted doctors with an insurance reimbursement management system.
- Significant Savings: Claims to achieve 50% savings on outpatient claims and reduce processing times by 75%.
- Customer Base: Serves over 80,000 customers and collaborates with 18 major health insurance providers.
- Growth Potential: Revenue is growing at 2.5x annually, fueled by increasing international travel.
- Founders’ Inspiration: The idea stemmed from personal experiences in navigating foreign healthcare systems.
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