Company name: Doximity Inc.
Industry: health IT (healthcare social media).
Location: San Mateo, California.
Solution/product: Doximity is a professional network where physicians can connect with colleagues, do referral searches and communicate using its HIPAA-compliant communication tools. One in seven U.S. physicians use the network. Medical schools at Stanford University, University of California at San Francisco and University of Pennsylvania partnered with Doximity to operate their alumni networks.
Money raised: $17 million in a series B. Total funds raised including this round is $27 million.
How it will be used: Funds will be used to “scale the network and expand our product offerings” said CEO Jeff Tangney.
Investors: Morgenthaler Ventures as well as existing investors Emergence Capital Partners and InterWest Partners participated in the round.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Management team: Jeff Tangney, CEO.
Market: Its competitor Sermo was acquired by WorldOne in July. HealthTap is another startup that allows physicians to connect with each other with a dedicated app, but its main aim is to facilitate patient-physician interaction online.
[Photo Credit: freedigitalphotos user Salvatore Vuono]
