Doctors social network Doximity has raised another $17 million at a ballpark $80 million valuation led by Morgenthaler Ventures, TechCrunch understands from sources. We’ve reached out to the company for confirmation. That would make this Doximity’s Series B financing round.
In March last year it launched with a Series A round of $10.8 million from Emergence Capital Partners and InterWest Partners.
The free communication platform for healthcare professionals across the United States is tackling a large market. The market for mobile health apps is forecasted to quadruple to $400 million by 2016.
The startup was created by Jeff Tangney, Co-founder and Former President of NASDAQ-listed mobile health software applications maker, Epocrates. Not unlike LinkedIn, Doximity gives physicians a private network through which to connect and collaborate on patient treatment or identify experts for patient referrals. They can do that across iPhones, iPads, Android devices, and the Web, speeding up contact time with patients and facilitating treatments.
In November last year said it had over 30,000 doctors on the platform, or 5 percent of physicians in the U.S., or double the number using LinkedIn at that time. No doubt that has risen considerably.
Doximity competes with the much larger Sermo, which claims to be the largest online network exclusive to physicians.
Update: We initially reported that Doximity had raised $20 million and have since learned from reliable sources that the actual number was $17 million, with a valuation in the vicinity of $80 million.
We will be updating more as we hear back from other sources and from the company.
- DOXIMITY
Doximity is the largest medical professional network with over 5% of US physicians as members. With Doximity, physicians can quickly connect with any U.S. physician to securely collaborate on patient treatment or identify the appropriate expert for patient referrals. Doximity is available on the web, iPhone, or Android.
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