Healthtech SaaS startup Doceree operating a global network of physician-only platforms for programmatic messaging, has raised $35 million in a Series B funding round led by Creaegis, with participation from existing investors Eight Roads Ventures, and F-Prime Capital.
The development comes a week after Bengaluru-based private equity fund Creaegis announced the final closure of its maiden fund at $425 million or Rs 3,529 crore to support homegrown startups.
How will Doceree utilize the raised capital?
With this round of funding, Doceree plans to speed up product development, enhance technologies, expand globally, and hire more employees, as per the company’s statement. In March 2022, Doceree raised $11 million in a Series A round from Eight Roads Ventures, with participation from F-1 Prime Capital and Alkemi Growth Capital.
The round, which was led by Eight Roads Ventures, was part of its India-focused healthcare and life sciences $250 million fund.
What does Doceree do?
Founded in 2018 by Harshit Jain and Daleep Manhas, Doceree said it is leveraging technology to simplify marketing for pharma and medical device companies.
The startup 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.
While Doceree is already operating in the US, India, and European markets, it has begun offering its services in Africa, Southeast Asia, and the Gulf Cooperation Council (GCC).
“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,” said Harshit Jain MD, Founder and Global CEO, Doceree.
“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,” Harshit said.
Doceree is also planning to launch intelligent, interconnected products in the upcoming months. According to the company, These products will offer unprecedented capabilities for targeting healthcare professionals (HCPs), enhancing communications at various points of contact throughout physicians’ professional and clinical paths.
Why Creaegis invested in Doceree?
Doceree claims to have witnessed over 100% growth over the past year, with its monthly revenue increasing five times since the Series A funding in April 2022.
The startup has launched innovative solutions, such as Doceree Enterprise, a global platform focusing on healthcare professionals (HCPs), and Doceree Provider, which helps HCPs enhance their patients’ health outcomes.
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.”
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