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Leading global physician-only programmatic messaging network, Doceree has raised a $35 million Series B funding round led by Creaegis in participation from its existing investors including Eight Roads Ventures, and F-Prime Capital.
Doceree intends to utilize these funds to expedite product development, enhance its technological infrastructure, expand its global footprint, and grow its team.
Founded in 2019, Doceree enables pharmaceutical and life-sciences companies and healthcare media agencies with solutions that seamlessly reach HCPs on their networks and within their digital workflows, to achieve better patient health outcomes.
Speaking about the development, Harshit Jain MD, Founder & Global CEO, Doceree said, “We are pioneering HCP messaging solutions that are first to market. It is incredible to watch our innovative products disrupt the space and drive the adoption of programmatic technology in the life-sciences industry, not just in evolved markets like the US, but also elsewhere in the same vein. 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.”
“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. We are growing massively and have a competitive edge. We are thrilled about the future as we continue to expand and touch new horizons in the space,” Jain further added.
Doceree has grown more than 100% in the last year with monthly revenue rising fivefold between the Series A funding in April 2022 and now.
The company has introduced category-first innovations on the demand and supply sides, including Doceree Enterprise, an HCP-focussed global Demand Side Platform (DSP), and Doceree Provider which empowers HCPs to improve the health outcomes of their patients.
Its HCP marketing ecosystem consists of custom-built solutions that equip life science marketers to engage with physicians at opportune moments with contextual messaging and evaluate campaign performances to improve script lift.
Commenting on the investment round, 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 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.”
“Doceree’s technology platform allows biopharmaceutical companies to connect with physicians like never before. The company’s impressive growth trajectory is an outcome of its unique, data-driven approach to enabling communication with precision and relevance. It has been exciting to partner with Harshit and the team since their Series A round, and we are thrilled to continue supporting their pioneering work,” Ashish Venkataramani, Partner, Eight Roads Ventures further added.
Investec provided advisory services to Doceree during the Series B transaction.