DOCQUITY, a medical education and knowledge-sharing platform for doctors, announced that it raised a total of $44 million in its Series C financing round, led by existing investor Japan’s Itochu Corp. with $32 million.
This latest infusion, announced on Sept. 5, will be used to strengthen Docquity’s presence in Southeast Asia (SEA), including the Philippines and Indonesia, and to expand in North Asia and the Middle East.
Other investors supporting this round included iGlobe Partners, Alkemi, Global Brain, KDV, and Infocom. Docquity has raised $57.5 million to date.
Based in Singapore, the healthtech company is building an ecosystem that helps doctors collaborate with colleagues and learn from each other’s real-world experiences, according to Indranil Roychowdhury, Docquity chief executive officer and co-founder.
“We hope to help bridge the knowledge and learning inequalities many healthcare professionals face, especially those in geographically isolated and disadvantaged areas in an archipelago like the Philippines,” he told BusinessWorld in a Sept. 5 e-mail.
Seven of 10 Filipino doctors across multiple medical specialties are already part of the more than 300,000-strong community, according to a statement. Verified members are able to access free, aggregated content that is downloadable and accessible offline.
New initiatives include cohort-based learning for doctors in partnership with universities and senior medical practitioners; a doctor-owned virtual clinic; and data analytics to gain a better understanding of what doctors need.
The company has partnered with more than 250 medical associations from more than six countries to develop the professional courses within its health tech platform, all of which can go towards fulfilling the compulsory continuing medical education credits of its doctor-members.
“In the Philippines, we partnered with leading medical associations for modules that are aligned with the accreditation requirements of the country,” Mr. Roychowdhury said. “We put these programs directly on the doctors’ phones, so they can access courses and learn anytime, anywhere.”
When the pandemic hit in 2020, Docquity was one of the first companies to bring in online lectures and symposia, he added. The platform conducts close to 500 lectures every month. — Patricia B. Mirasol