Capital raise to accelerate product and technology development and support expansion efforts to reshape communications to HCPs (healthcare professionals) across the globe
PARSIPPANY, N.J., Sept. 27, 2023 /PRNewswire/ -- Doceree, the leading global network of physician-only platforms for programmatic messaging, today announced a USD 35 million Series B round led by Creaegis, the leading digital and technology investment firm. Existing investors, Eight Roads Ventures, and F-Prime Capital, also participated in the round.
Driven solely by the mission to transform healthcare professional (HCP) marketing globally, the funds will enable Doceree to accelerate product development, augment technologies, scale global expansion, and expand team.
Founded in 2019, Doceree empowers pharmaceutical and life-sciences companies and healthcare media agencies with solutions that seamlessly reach HCPs on their networks and within their digital workflows, to achieve better patient health outcomes. The company, with its largest global network of HCP-only digital platforms, has made rapid strides in HCP communications through its programmatic messaging capabilities, to help clients across the globe maximize performance of their physician engagement initiatives.
"We are pioneering HCP messaging solutions that are first to market. It is incredible to watch our innovative products disrupt the space and drive adoption of programmatic technology in the life-sciences industry, not just in evolved markets like the US, but also elsewhere in the same vein. We have been able to simplify HCP engagement globally with our unique AI-enabled proprietary technology and offer quality end-to-end HCP-targeting solutions that have helped our clients succeed with profitable growth. The pharma messaging space is evolving at a fast pace and our solutions are aligned to meet the immediate requirements of the life sciences industry. The investment speaks volumes about the value we are creating in the space," said Harshit Jain MD, Founder & Global CEO, Doceree. Jain further added, "We are growing massively and have competitive edge. We are thrilled about the future as we continue to expand and touch new horizons in the space."
Doceree has grown more than 100% in the last one year with monthly revenue rising five folds between the Series A funding in April 2022 and now. The company has introduced category-first innovations on the demand and supply sides, including Doceree Enterprise, an HCP-focussed global Demand Side Platform (DSP), and Doceree Provider that empowers HCPs to improve health outcomes of their patients. Its HCP marketing ecosystem consists of custom-built solutions that equip life science marketers to engage with physicians at opportune moments with contextual messaging and evaluate campaign performances to improve script lift.
Prakash Parthasarathy, Managing Partner & CIO and Nitish Bandi, Partner, Creaegis, said, "We are excited to partner with Harshit and the Doceree team to support the company in its next phase of growth led by an industry leading digital platform driven by deep learning-based data models. Our past experience of investing in pioneering global SaaS companies and in the healthcare ecosystem will enable us to support the company's mission to create superior outcomes for pharma brands, providers and patients."
On the back of the huge response to its solutions in the US, India and the European markets, Doceree expanded its footprints to Africa, Southeast Asia (SEA), and the Gulf Cooperation Council (GCC), curating and iterating solutions that serve the specific needs of marketers in these regions.
"Doceree's technology platform allows biopharmaceutical companies to connect with physicians like never before. The company's impressive growth trajectory is an outcome of its unique, data-driven approach to enable communication with precision and relevance. It has been exciting to partner with Harshit and the team since their Series A round, and we are thrilled to continue supporting their pioneering work," Ashish Venkataramani, Partner, Eight Roads Ventures.
A line-up of smart and connected solutions from Doceree's product portfolio are awaiting launch in the months to come that will bring massive transformational change to the entire ecosystem globally. The products will facilitate HCP targeting like never before, enriching communications at multiple HCP touchpoints in the professional and clinical journeys of physicians.
Investec advised Doceree on the Series B transaction.
About Doceree
Doceree is a global platform building unique solutions for healthcare professional (HCP) programmatic messaging with proprietary data tools. It facilitates messaging between life sciences brands and HCPs through an extensive global network of digital endemic and point-of-care platforms to programmatically deliver personalized communications to HCPs at scale. To learn more, visit doceree.com
About Creaegis
Creaegis is a growth investment firm focused on digital and technology businesses with a team history of investing in some of the digital pioneers in India and the US. The firm recently invested in companies such as Kale Logistics (Enterprise SaaS), Zopper (InsurTech) and Medikabazaar (HealthTech). http://creaegis.in/
About Eight Roads Ventures
Eight Roads Ventures is a global venture capital firm backed by Fidelity, with offices in India, China, Japan, and UK. Our 50-year history of investing includes partnerships with over 300 healthcare and technology companies. Eight Roads Ventures' India healthcare portfolio includes Ashish Life Science, Bicara Therapeutics, Caplin Steriles, Carestack, Cipla Health, Core Diagnostics, Doceree, eKincare, Eywa Pharma, Elucidata, Enzene Biosciences, Enko, Everheal, Immuneel Therapeutics, Laurus Labs, Medwell Ventures, NOCD, Plasmagen Biosciences, Proximie, OZiva, PharmEasy, Richcore Lifesciences, Specsmakers, Spry, Toothsi, Trivitron Healthcare and Ujjala Cygnus. www.eightroads.com
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