Doximity, a ‘LinkedIn for doctors,’ receives $54 million investment
Doximity, a website that is considered a “LinkedIn for doctors,” has raised $54 million in funding. This round of funding was led by Draper Fisher Jurvetson and T. Rowe Price. Morgan Stanley Investment Management, Emergence Capital Partners, Morgenthaler Ventures, and InterWest Partners also participated in this round.
Doximity enables medical professionals to collaborate with each other on patient treatment in order to prevent mistakes. The service also helps with the free flow of traffic.
Doximity enables doctors to complete 20 hours per year of continued education (CE) through a partnership with the Cleveland Clinic. Doctors can read through personalized articles and answer quiz questions to earn the CE credit.
Several new features have been added to Doximity since it launched. The service now has secure messaging, personalized reading, recruiting tools, research recommendations.
Doximity more than tripled its user base since its last round of funding in 2012. At least one in three U.S. doctors are members of the network.
Doximity plans to use the funding for international growth and to include other medical professionals like nurses. It will also be used for building out the product and fulfilling more users’ needs.
Based in San Mateo, California, Doximity launched in 2011 by Jeff Tangney and Nate Gross. Doximity has raised a total of $81.8 million in funding thus far.
[Source]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry