Recently, GLZHealth, a digital service provider in the vaccine industry, has received nearly 10 million U.S. dollars in Series A financing. This round is led by IDG Capital, and Jiacheng Capital will co-invest. The company’s raised funds will be mainly used for product development, marketing and accelerating the digitalization of the vaccine industry. It is reported that this is the first capital blessing in the Internet vaccine field.
GLZHealth was established in 2017 and is one of the earliest companies in China to explore digital services in the vaccine industry. In 2018, the company and Alibaba Health cooperated to build an online medical center in Hong Kong, China, to carry out vaccine appointment services, and then the business scope covered China Hong Kong, Macao, Taiwan, Southeast Asia, South Korea and other places, and it has accumulated more than 1,000 high-quality medical institutions around the world. In 2019, non-immunization planning vaccines have grown rapidly in the domestic market. GLZHealth has vigorously expanded its digital business in mainland China. By the end of 2020, the company has initially completed the coverage of domestic vaccination outlets, and the cooperation network covers vaccines in more than 20 provinces and 50 cities across the country. The vaccination network has expanded the scope of services to include reservation and appointment services for all types of non-immunization program vaccines (Class II vaccines). At the same time, GLZHealth copied the experience of online vaccine industry to third-party testing, and its business covers 20+ provinces and 60+ cities across the country.
The company’s core team consists of middle and senior executives from many foreign vaccine companies such as Pfizer, Merck, Sanofi, GlaxoSmithKline, and serial entrepreneurs of Internet e-commerce. It is a team that integrates the vaccine industry and the Internet.
In 2020, under the catalysis of the new crown epidemic, my country’s vaccine market is ushering in a growth turning point in the development of the industry, and the Internet vaccine field is growing rapidly. In 2020, domestic demand for vaccination has reached unprecedented levels. As of November 9, 2020, about 25 million doses of influenza vaccines have been inoculated nationwide. Compared with last year, my country’s vaccine production doubled in 2020, the most in the past five years. In terms of market size, according to Frost&Sullivan data, my country’s vaccine market is expected to grow to 97.36 billion yuan by 2023, with a compound growth rate of 26.5% from 2018 to 2023. Among them, the market share of non-immunization program vaccines accounted for more than 90.7% of the market size. It is foreseeable that with the introduction of more varieties in the future, the proportion of non-immunization program vaccines will increase.
Under this trend, Internet giants such as Alibaba Health, Tencent Health, Baidu Health, JD Health, and Pinduoduo have taken it seriously and have entered the game. GLZHealth, as one of the first companies to deploy the digitalization of Internet vaccines, has profound industry experience and has the opportunity to cooperate with various giants. Beginning in 2018, GLZHealth has won the honor of TOP1 online vaccine service provider for three consecutive years, with the highest online service appointments exceeding 100,000 in a single month. GLZHealth is a member of China Vaccine Industry Association and a member unit of Ali Health Vaccine Digital Popularization Science Alliance. The company has already partnered with multiple platforms to collaborate on vaccine digital services, including Alibaba Health, JD Health, Tencent Health, Baidu Health, Meituan, ByteDance, Pinduoduo and other platforms, becoming the ecological partners of various Internet health giant platforms. Jointly build a digital vaccine market.
Deng Guiwei, the founder of GLZHealth, said: GLZHealth’s original intention is to create value for the vaccine industry and users, and is committed to integrating the non-immunization planning vaccine market from the two directions of optimizing demand and matching supply to increase the vaccination rate. With this financing, GLZHealth’s Internet + vaccine platform will further enhance the digital service capabilities of vaccination sites, and at the same time, vigorously strengthen the multi-dimensional needs of service users, and solve the traditional public vaccination problems through online science popularization, online consultation, and online appointment. The system is digitized, observation data and vaccination prognosis data are returned, forming a closed industry chain in the industry, and comprehensively increasing the vaccination rate.
IDG Capital Partners Lianmeng said: “Based on the prospects of healthy consumption and aging, we are optimistic about the growth of the non-immunization program vaccine field. As an entry-level product for health services, as the demand for users grows, digital services in the vaccine industry will be upgraded. There is a lot of room for improvement. We are optimistic about GLZHealth’s digital attempts in the fields of vaccines and health services. The industry has structural industry optimization opportunities.”
Li Li, the founding partner of Jiacheng Capital, believes: “Jiacheng Capital is committed to investing in technology-driven business innovation. In recent years, the medical and health field that we focus on has seen many innovations in technology, channels and services. GLZHealth has deepened the digitalization of the vaccine industry. Committed to forming a closed loop from supply-side optimization to service digitization, it is hoped that GLZHealth will serve the industry and users well, and play a positive role in improving the efficiency of the vaccine industry chain in the future.”