Business News Australia: Australia’s Top 100 Young Entrepreneurs - featuring Updoc
22. Dylan Coyne (29) and Clifton Hodgkinson (30)
Updoc
Sydney
With ambitions to become the “front door for primary care”, Updoc has seen its telehealth technology platform used by more than 300,000 people to date in Australia with patients across 95 per cent of the country’s postcodes.
The platform allows users to book a range of services including general medical consultations, online prescriptions, pathology referrals, specialist referrals and medical letters.
Founded in 2021 by Canva and Uber alumni Dylan Coyne and Clifton Hodgkinson who also founded Jot Bikes, Updoc was bootstrapped until Bailador Technology Investments (ASX: BTI) pumped $20 million into the fast-growing company in May last year.
For a sense of its growth rate since, at the time Updoc had been used by 200,000 people to date. Now that number is 50 per cent greater, and in December Bailador upped its estimated valuation of the investment by $10 million as well.
“We are projecting to have reached 1,000,000 Australians within the next year,” says Dylan Coyne.
Hodgkinson notes that a Productivity Commission report in May 2024 on digital health found that almost 30 per cent of all Australians had used telehealth services at least once in the previous 12 months, with many accessing them multiple times.
“With a massive, growing presence in Australia and a small, increasing footprint in the UK, the outlook for us continues to be promising with more on-demand services, enhanced product development, and further international growth,” he says.
“People need better access to healthcare more than ever, and we’re still only scraping the surface of the enormous benefit that people can gain from accessible healthcare.”
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