New Jersey headquartered online marketing platform for pharmaceutical brands Doceree has raised $1 million in a seed funding round led by Kumar Gaurav, founder and CEO of marketing platform Beyond Codes along with other angel investors in India and the US.
The health-tech startup will use the funds for customer acquisition and scaling of business in India and the US, a statement said.
Founded in 2019 by medical professional and IIM Lucknow alumni Harshit Jain and management graduate Daleep Manhas, the platform allows pharmaceutical companies to market their products and services to physicians. This, according to Doceree, reduces the problem of high costs for pharmaceutical companies in healthcare marketing.
Doceree uses its artificial intelligence-powered identity resolution software Espyian which narrows down the targeted doctor out of similar-looking profiles from medical networking platforms, medical journals, telemedicine platforms or social networking sites.
Since its launch in the US, Doceree claims that it has on-boarded a million doctors on the platform. It also has launched India operations as late as March, and has registered 300,000 physicians, the company said.
“In the healthcare space, there is a huge data that lies underutilised which when used efficiently can drastically change the way physicians are engaged. It is still hard for pharmaceutical brands to approach physicians on the digital medium,” Jain, co-founder and CEO of Doceree said.
Doceree today also inducted Rahul Gupta, an investor in over 15 technology, healthcare and the real estate companies, on its board of directors.
“Doceree’s concept of programmatic physician engagement is distinct, disruptive and innovative. How it became a crucial tool for pharma companies to reach out to doctors during the ongoing Covid-19 crisis establishes the greater need and importance of the platform,” Gupta said.
Other recent deals in the healthtech segment include diagnostics platform Cardiotrack raising funds in an extended seed round from Frontline Strategy Funds in March and another med-tech startup DocsApp getting $9.6 million from Bessemer Venture Partners, Rebright Partners and Milliways Ventures last week.