Docquity, community for healthcare professionals, raises $44M Series C – TechCrunch

A call between doctors can save lives. This is what Documentation co-founder Indranil Roychowdhury learned when his father was hospitalized with a life-threatening condition in India. At first an emergency room doctor told him he had no chance of survival, but then another doctor called one of his colleagues in the United States and they suggested an alternative treatment plan that worked. Docquity was created to help doctors collaborate in the same way, at scale, even if they live in different countries.

The Singapore-based company announced today that it has raised $44 million in Series C funding, led by returning investors Itochu Corporation, which put in $32 million. The rest of the round came from investors including iGlobe Partners, Alkemi, Global Brain, KDV and Infocom.

Roychowdhury told TechCrunch that after his father’s experience, he and his co-founders, Amit Vithal and Abhisek Wadhwa, wondered why “in this day and age of social media, it takes a phone call to save someone’s life.” Docquity was founded in 2015 so doctors and other healthcare professionals have an easier way to work with each other.

The new capital brings Docquity’s total raised to $57.5 million. He says it is the largest community of healthcare professionals in Southeast Asia, with more than 350,000 doctors on board. The funding will be used to grow Docquity in existing markets, such as Indonesia and the Philippines, and enter new ones, including Japan, the United Arab Emirates, Saudi Arabia and Egypt. It recently launched in Taiwan, where more than 2,000 doctors have signed up so far. The company announced two-fold revenue growth in 2021.

The company now has a team of 300 people and, in addition to its headquarters in Singapore, also has a technology and engineering center in Gurgaon, India, and other offices in Indonesia, the Philippines, Malaysia, Thailand, Vietnam and Taiwan.

In addition to providing doctors with tools to connect and collaborate, Docquity partners with more than 250 medical associations in Southeast Asia to develop learning modules that can be used to earn mandatory continuing medical education (CME) credits. The company says its platform has enabled doctors to earn a total of 4.2 million CME credits to date.

Docquity has three main functions. The first, Docquity Academy, partners with universities and senior practitioners to create training tools for doctors. The second, Docquity Clinic, allows doctors to conduct follow-up consultations with their patients. Finally, Docquity Insights takes data about user engagement on the platform to understand what they need.

Roychowdhury said an average of about 50,000 doctors attend courses on its platform each month, and that it was one of the first companies to launch online lectures and symposiums when the pandemic began in 2020. It now hosts about 500 lectures a month. Doctors participating in the courses can also join private groups to discuss real-world cases and the best treatment plans.

“While lecture-and-exam-style learning is a key component, we believe that experiential learning through peer-to-peer case discussions is a primary source of learning for physicians,” said Roychowdhury.

Docquity ensures patient privacy through several measures. It is a closed GDPR and HIPAA compliant network that only admits doctors vetted by medical associations. It has also established an internal compliance and pharmaceutical co-vigilance team to ensure privacy and security. It allows pharmaceutical and medical device companies to connect with doctors, but no ads are allowed on the platform.

Another Docquity initiative is making healthcare more affordable. It recently launched its Patient Adherence Program (PAP) to help physicians provide care for underserved patients. “Making treatments more accessible is a key objective of the platform and we started working with breast cancer as a therapeutic area with one of our clients and have already served close to 600 breast cancer patients in the Philippines,” Roychowdhury said.

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