Docquity, a Singapore-based online networking platform for healthcare professionals, has raised $44 million in a Series C funding round led by Japanese general trading company Itochu Corporation. The round was also attended by other investors, including iGlobe Partners, Alkemi, Global Brain, KDV, and Infocom.
This brings the total raised since inception to $57.5 million.
WHAT IT DOES
Aiming to help physicians better understand and make better clinical decisions, Docquity provides a platform for more than 350,000 physicians to learn, connect, and collaborate through knowledge and content exchange. verified across specialties.
It has partnered with more than 250 medical associations across Southeast Asia to develop learning modules and offer millions of continuing medical education (CME) credits to help physicians meet the their mandatory CME requirements. It also links with pharmaceutical, consumer healthcare and medical companies to access and train healthcare professionals.
The startup has established offices in India, Indonesia, Philippines, Malaysia, Singapore, Thailand, Vietnam and Taiwan.
According to a media release, Docquity will use its new funding to strengthen its presence in existing markets and further scale up operations in new target markets in East Asia, including Japan and Taiwan. It also plans to enter the Middle East market, starting with the United Arab Emirates, Saudi Arabia and Egypt.
Furthermore, the new funds will also support the launch of Docquity’s newest initiatives: Docquity Academy, cohort-based learning for doctors in partnership with universities and high-level medical practitioners. grant; Docquity Clinic, a virtual clinic that provides telemedicine services; and Docquity Insights, which will mine the data to provide insights into doctors’ needs.
SNAPSHOT . MARKET
Other similar networking platforms for healthcare professionals have increased their investments in recent years. In October last year, headquarters in Barcelona Top doctorwhich helps doctors promote their brand visibility and awareness, raised $13 million in Series B funding. That same year in June, Adjacent launched on the New York Stock Exchange, raising nearly $600 million in proceeds from its initial public offering.
Meanwhile, earlier this year in India, medical technology startup MedPiper Technologies went live with a web-based networking platform for doctors called MConnekt. It follows the launch of India’s first online healthcare network, DocsCampus.comoperated by healthcare solutions provider HealWell24.