[Funding alert] Doceree raises $11M in Series A round led by Eight Roads Ventures

New Jersey-headquartered marketing platform targeted at healthcare professionals (HCP) Doceree has raised $11 million in a Series A round led by Eight Roads Ventures, a global investment firm backed by Fidelity. F-1 Prime Capital and Alkemi Growth Capital also participated in the round.

Doceree had previously raised $1 million in a seed round in May 2020, followed by an undisclosed amount in pre-Series A round in June 2021. 

The platform will utilise the capital to scale global operations, expand partnerships and augment its product portfolio. It will also use the capital for technology enhancement and strengthen its HCP communications for pharma and life sciences brands, agencies and health information technology platforms. 

Founded in 2019 by a physician, Dr Harshit Jain, Doceree helps pharma brands and media agencies with HCP communications through its programmatic messaging capabilities. It identifies HCP using its physician verification engine, creating a unique profile of the physician for the right targeting and messaging. Its programmatic media offering helps brands place optimised bids for Doceree’s partner platforms.

“It is critical for industry players like pharma companies and HCP-only platforms to understand and react to the digital touchpoints and behaviours of HCPs for delivering messages they resonate with,” said Harshit Jain, M.D., founder and global CEO at Doceree, in a statement issued by the company. 

He added, “Our identity resolution technology and tailored products for different markets that adhere to the country-specific regulations and guidelines make it easy for pharma brands to engage with HCPs on digital mediums, while enabling publishers to improve engagement on their platforms with relevant medical information from pharmaceutical and life sciences brands.”

Doceree claims to work with the top 10 global pharma brands and engages with nearly 1 million HCPs globally. It has also launched its operations in the UK and Europe. 

“Doceree is transforming the way digital interactions between pharmaceutical brands and prescribers are facilitated,” said Ashish Venkataramani, partner at Eight Roads Ventures in the statement.

He added, “Pharma marketers navigate significant complexity across point-of-care systems and health information systems. Doceree’s technology platform seeks to disrupt the fragmented value chain for digital messaging to physicians, and will be at the forefront of this promising sector.”