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Nigerian Healthtech Startup, CribMD Secures $2.6m Funding For Product Growth & Expansion

CribMD, a Nigerian healthtech startup, has raised $2.6 million for product growth and expansion. The investors in the seed round include Sputnik ATX, Norrsken Foundation, and The Guardian Nigeria. This new funding brings the startup’s total investments to $2.85 million.

CribMD which was founded in 2020 by Ifeanyi Ossai, Ngiri Michael, and Lorna Mae Johnson offers affordable subscription-based telemedicine and doctor house calls on-demand in Nigeria where primary care is in short supply. The startup has customers like The Guardian Nigeria — one of the investors in this round — Bora Communications, IHS Towers, Energy Batteries Nigeria limited, and NeoTech.

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After ten months, the startup said it currently hosts 5,000+ Doctors on the platform, has 2000+ subscribers, over 30 corporate customers, and a Monthly Recurring Revenue (MRR) of $55,000. The platform is working towards making $24 million in annual recurring revenue within the next 12 months.

The startup will use the funding to expand its current team of 36 professionals and grow its network of partners. It also intend to focus more on growing corporate subscribers in Nigeria and other African countries and working towards servicing the B2B and B2C markets equally.

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