New Delhi-based health-tech startup Doceree on Monday announced it has raised $11 million in a Series A financing round led by venture capital firm Eight Roads Ventures.
F-Prime Capital and Alkemi Growth Capital also participated in the investment round.
Doceree, which powers healthcare marketing by connecting pharmaceuticals brands and physicians around the world, said it would use the funds to ramp up its global operations, expand partnerships, and boost its product portfolio. The funding will also help it sharpen healthcare professional (HCP) communications for pharma and life sciences brands, agencies and health information technology platforms.
“It is critical for industry players like pharma companies and HCP-only platforms to understand and react to the digital touchpoints and behaviours of HCPs for delivering messages they resonate with,” Harshit Jain, founder and Global CEO, Doceree, said. “Our identity resolution technology and tailored products for different markets that adhere to the country-specific regulations and guidelines make it easy for pharma brands to engage with HCPs on digital mediums while enabling publishers to improve engagement on their platforms with relevant medical information from pharmaceutical and life sciences brands.”
Founded in 2019 by Jain, a former physician who switched to the healthcare marketing space, Doceree enables programmatic messaging capabilities to help marketers with more efficient, effective and transparent messaging campaigns.
“Doceree is transforming the way digital interactions between pharmaceutical brands and prescribers are facilitated,” Ashish Venkataramani, Partner, Eight Roads Ventures, said. “Pharma marketers navigate significant complexity across point-of-care systems and health information systems. Doceree’s technology platform seeks to disrupt the fragmented value chain for digital messaging to physicians, and will be at the forefront of this promising sector.”
Doceree had earlier raised $1 million in seed funding in May 2020 amid covid-19 pandemic, which has accelerated the adoption of digital solutions. A year later, it raised an undisclosed amount in pre-Series A funding.
Doceree’s AI-powered solutions enable hyper-targeting of HCPs based on multiple triggers and at various touchpoints that enrich marketing initiatives digitally. The company says its platform can precisely identify HCPs on professional platforms based on their behaviour traits, diagnoses they carry out, prescriptions they write, and the procedures they perform to deliver relevant messaging from pharma brands in a regulatory-compliant manner.
Doceree, which has its US headquarters in New Jersey, is currently working with eight of the top 10 global pharma brands, including Pfizer and GlaxoSmithKline, and engages more than one million HCPs across the globe.