Doceree Closes Pre-Series A Funding Round
Company secures additional capital to accelerate product development and global expansion
Global network of physician-only platforms Doceree for programmatic marketing, announced today raising a pre-Series A funding for an undisclosed amount led by existing and new investors.
The company will utilize the fresh capital to expand its programmatic offerings and advancing the efficiency and effectiveness of physician marketing.
Doceree is the only platform in this category which owns all 3 components of an Ad Exchange – SSP, DSP and DMP. After launching in 2019, Doceree is already working with five of the top 10 pharmaceutical manufacturers and three global advertising agency networks. It is slated to expand to Europe later this year.
"Being able to garner a positive cash flow within a year of our commencement in the first launch market validates the capabilities of our platform in elevating business outcomes in the pharma and healthcare sector," said Harshit Jain MD, founder and global chief executive officer, Doceree. "The additional monetary inflow reinforces the benefits of our platform and enables us to introduce new digital technologies to evolve the physician marketing category."
Pharma and healthcare sector has been slow in adopting digital technologies, but the pandemic has accelerated the adoption of digital solutions in the sector. Pharma marketers are keen to explore innovative programmatic mediums like Doceree which enable them to achieve business outcomes in a transparent and cost-effective way.
"Doceree is transforming physician marketing ecosystem during a period when pharma marketers are focusing on digital initiatives," added Harsh Gupta, who participated again in this round through his Family office. "As the industry needs more effective AI-powered solutions, Doceree's dynamic programmatic platform provides significant advantages for pharmaceutical and healthcare corporations to elevate their marketing strategies."
To date, Doceree has raised Seed funding from angel investors in the United States and India. The company has bolstered its team to up to 75 members with industry veterans from Amazon, Adobe, Sprinklr, and Experian. Pre-Series A is a bridge round and Doceree has already started the process of raising Series A from global investors.