• Polish MedTech SaaS eGabinet attracted PLN 2.4M / EUR ~550K of investment from angel investors
• The startup offers simplified and straightforward daily management of medical facilities, including appointments, prescriptions, etc.
• The new investment will be primarily used for product development, ,ore specifically – adding the financial and accounting module alongside a few other TBA features
• Other plans include hiring more talent for enabling eGabinet’s international expansion

This January, Polish medical care B2B SaaS startup eGabinet announced having raised another funding round of PLN 2.4M / EUR ~550K. The investment came from business angels who chose to remain unannounced.

Industry-Agnostic Expertise to Facilitate Medical Care

A team led by Piotr Strychalski (CEO) founded eGabinet in 2020. The entrepreneur had previously worked as the head of sales at ZenBox, then managed a team in an automotive industry startup. Next he made his way into the MedTech world, following extensive research and discussions with potential clients who were in search of an effective alternative to the customary in-person / telephone patient registration system.

Traditional management systems in the medical facility market often prove to be overly complex and non-intuitive, demanding too much time to understand and learn to navigate efficiently. Moreover, we can recall that 2020 was marked by the COVID-19 pandemic, which complicated in-person visits to medical facilities, drastically decreased the availability of doctors, and vividly revealed the outdated nature of in-person and telephone registration at hospitals and clinics.

The team set the goal to develop user-friendly and straightforward software that would allow medical facilities to manage patient appointments and their documentation, significantly facilitating the work of doctors and medical staff. eGabinet developed a SaaS (available in web-based and API form) that broke away from the traditional complexities, offering simplicity and intuitive operation. Coupled with the absence of initial fees, this allowed users to fully leverage its capabilities right from the start which made eGabinet an increasingly popular choice among medical facilities seeking effective and easy-to-use management tools. Aside from simplifying the daily work of medical staff, it also raises the standard of patient care.

Rapidly Developing Startup in a Rapidly Evolving Market

The startup’s initial Pre-Seed investment came from Netrix Ventures in 2020. The fund’s investment manager Adam Jerusalimcew reminds of Data Bridge Market Research’s report, according to which the market of medical facility management software had already been valued at USD 6.8B in 2021 with a projected value in 2029 reaching USD 13.85B, while the cumulative annual growth rate (CAGR) was estimated at 9.3%, which reveals a broad perspective and numerous opportunities.

‘eGabinet operates in the rapidly evolving market of medical facility management software. This market, combined with the company’s impressive growth over the past two years, allowed the team to raise a high round of financing, despite the general slowdown in investment in Poland,’ Mr Jerusalimtsev adds.

Indeed, the startup reports having doubled the number of doctors using its solution, and increased appointments by over 40% in 2023. The recent round’s investors have found this number quite convincing.

Product Development and International Expansion

eGabinet’s nearest plans include adding a financial and accounting module to its solution. ‘Our new financial and accounting module will enable our clients to fully manage cash flow and accounting within medical facilities. We plan to introduce a series of additional functionalities there, but they are currently in the testing phase. We hope to be able to share more about them soon,’ Mr Strychalski comments.

Expanding to foreign markets is also in among eGabinet’s plans for 2024. Without naming the potential new geographies, the CEO shares that the company is currently in the process of preparing for this step, which involves market research and the addition of new, experienced experts to our team. One of such announced expert is Karol Sadaj (ex-Aion Bank) who joined eGabinet as a supervisory board member.

‘Our main goal is to focus on software development and to strengthen and expand sales. This is primarily where the investment funds will be allocated,’ Mr Strychalski sums up.