In a significant financial development, Doceree, the exclusive physician-centric platform specializing in programmatic messaging, has successfully raised $35 million in a Series B funding round. The investment was spearheaded by Creaegis and saw substantial contributions from existing investors such as Eight Roads Ventures and F-Prime Capital. This funding follows a Series A round in April of the previous year where the company raised $11 million.
The newly acquired funds are slated to accelerate the development of innovative products, enhance technological frameworks, expand global outreach, and facilitate team expansion, as outlined in a company press statement.
Having its roots four years back, Doceree is on a mission to optimize the healthcare and pharmaceutical communication landscape. By offering strategic solutions to pharmaceutical and life sciences firms as well as healthcare media agencies, Doceree seeks to improve interactions with healthcare professionals (HCPs) on its network, aiming to elevate patient health outcomes.
Founder and Global CEO of Doceree, Harshit Jain MD, highlighted the rapid advancements in the pharmaceutical messaging space. “The sector is evolving swiftly, and our tailor-made solutions are meeting the immediate needs of the life sciences industry. The generous investment underscores the immense value and impactful change we are instigating in this sphere,” he stated.
While the company’s annual financial statement for FY23 is pending, it has reported a commendable growth rate, surpassing 100% in the last year. Remarkably, Doceree’s monthly revenue has witnessed a five-fold increase since the conclusion of the Series A round.
Further broadening its operational scope, Doceree joined hands with Hello Health Group in May to mark its entry into eight Southeast Asian countries, including Vietnam, Indonesia, Malaysia, Cambodia, Myanmar, Singapore, the Philippines, and Taiwan.
Creaegis, a homegrown private equity fund, recently concluded its initial fund at around $426 million. It aspires to consolidate a versatile portfolio with 12-15 growth-oriented companies and intends to support approximately four companies every year. Among the diverse entities in its portfolio are Medikabazaar, Zopper, and Kale Logistics.
Doceree’s commitment to creating a unique platform focused solely on physicians for programmatic messaging positions it as a crucial innovator in healthcare communication. The influx of investments in this Series B round demonstrates solid confidence in Doceree’s novel approaches and solutions.
This investment is anticipated to strengthen Doceree’s resolve and capacity to develop groundbreaking products and escalate its technology to new heights, enhancing its global footprint and team in the process. The alignment of Doceree with the ongoing transformations in the pharma messaging sector emphasizes its dedication to fulfilling the immediate demands of the healthcare and life sciences industry.
Doceree’s collaborations and expansion into diverse Southeast Asian markets signify strategic advancements in establishing its global presence and insight. Such progressive steps fortify the company’s international stance, offering a comprehensive perspective on healthcare communication.
The leading contribution of Creaegis, along with the substantial participation of other investors in this round, highlights Doceree’s potential and the trust investors place in its vision and capabilities. This funding serves as a pivotal juncture for Doceree, reinforcing its determination to refine global healthcare communication standards and contribute to improved patient health outcomes worldwide.
