Docquity, a Singapore-based medical education and knowledge-sharing platform for doctors, has recently raised $44 million in its Series C funding round led by existing investor Japan’s Itochu Corporation with $32 million.
Other investors who participated in the round include iGlobe Partners, Alkemi Venture Partners, Global Brain, KDV, and Infocom. The latest round brings the company’s total funding to $57.5 million.
Docquity operates a platform that allows healthcare professionals to share medical knowledge, discuss cases with one another, as well as exchange information about new developments in the medical field. Docquity’s platform, which also includes a library of educational resources, provides access to medical guidelines, educational webinars explaining treatment methods, and summaries of research that appears in medical journals.
The platform claims to connect two out of three doctors in Southeast Asia, with more than 300,000 doctors learning, connecting, and collaborating through knowledge exchanges and verified content across multiple medical specialties. Docquity also claims to partner with more than 250 medical associations in Southeast Asia and delivered more than 4.2 million continuing medical education (CME) credits to date via its platform, helping doctors meet their compulsory CME requirements.
Commenting on the development, Indranil Roychowdhury, Co-founder & CEO of Docquity, said,
“Investors are seeing that we are able to achieve what we set out to do. We are now reaping from the foundations that we have built over the years; enabling Southeast Asia’s largest healthcare professional community to build healthier lives at scale and mitigating geography and knowledge boundaries for doctors. This round of funding affirms the opportunities and potentials in Docquity’s scalable business model.”
The company plans to use the latest funding to further strengthen its presence across Southeast Asia, including Indonesia and the Philippines, and further expand to new markets in North Asia and the Middle East.
Beyond new markets, Docquity also plans to enhance its product capabilities as well as introduce new initiatives, including Docquity Clinic, which will enable doctors to hold follow-up consultations with patients, and Docquity Academy which will partner with universities and senior medical practitioners to provide learning resources for healthcare professionals.