A call between doctors can save lives. This is what Docquity co-founder Indranil Roychowdhury learned when his father was hospitalized for a life-threatening condition in India. An emergency room doctor initially told him there was no chance of survival, but then another doctor called one of his peers in the United States and came up with an alternative treatment plan that worked. Docquity was created to help doctors collaborate equally, on a large 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, who invested $ 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 today’s social media day, one phone call was enough to save someone’s life. “. Docquity was founded in 2015 so that 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. It says it is the largest community of health workers in Southeast Asia, with more than 350,000 doctors on board. The funding will be used to grow Docquity in its existing markets, such as Indonesia and the Philippines, and insert new ones, including Japan, the United Arab Emirates, Saudi Arabia and Egypt. It was recently launched in Taiwan, where over 2,000 doctors have enrolled so far. The company sustained double revenue growth in 2021.
The company now has a team of 300 people and, in addition to the Singapore office, also has a technology and engineering hub in Gurgoan, India, and other offices in Indonesia, the Philippines, Malaysia, Thailand, Vietnam and Taiwan.
In addition to providing physicians with the tools to connect and collaborate, Docquity has partnered with more than 250 medical associations in Southeast Asia to develop learning modules, which can be used to earn mandatory continuing medical education (CME) credits. The company says its platform has so far enabled doctors to earn a total of 4.2 million CME credits.
Docquity has three main features. The first, Docquity Academy, works with universities and senior physicians to create learning tools for physicians. The second, Docquity Clinic, allows doctors to have follow-up consultations with their patients. Finally, Docquity Insights takes data on user engagement on the platform to understand what they need.
Roychowdhury said that on average around 50,000 doctors take courses on its platform each month and that it was one of the first companies to launch online conferences and symposia when the pandemic started in 2020. It now hosts around 500 conferences a month. Doctors taking courses can also join private groups to discuss real-world cases and best treatment plans.
“While exam-style teaching and instruction are a key component, we believe experiential learning through peer case discussions is an important source of learning for clinicians,” said Roychowdhury.
Docquity guarantees patient privacy through various measures. It is a closed network, compliant with GDPR and HIPAA that allows access only to doctors verified by medical associations. It also established an in-house pharmaceutical compliance and co-oversight team to ensure privacy and security. It allows pharmaceutical and medical device companies to interact with doctors, but advertising is not allowed on the platform.
Another Docquity initiative is making healthcare more accessible. It recently launched its Patient Adherence Program (PAP) to help doctors provide care for disadvantaged patients. “Making treatments more affordable is a key goal of the platform and we started working on breast cancer as a therapeutic area with one of our clients and have already treated nearly 600 breast cancer patients in the Philippines,” said Roychowdhury.