Doceree Inc., a fully integrated programmatic ad exchange for data-driven marketing exclusively to physicians, announced it has raised $1 million in its seed funding round led by Beyond Codes founder and CEO Kumar Gaurav, with participation from a group of angel investors in India and the US, Doceree said in a statement.
Investors from the advertising and pharmaceutical industries also participated in the seed funding round.
The New Jersey and New Delhi-based company said that it will utilise the fund infusion for customer acquisition, recruiting talent, scaling up its operations in India and the US, and enhancing its technological infrastructure.
The startup says it has also inducted veteran investor Rahul Gupta to its management board. Gupta has made investments in companies across the information technology, healthcare and real estate sectors.
Doceree was founded by Harshit Jain in 2019 and began operations in the US before expanding to India in March. The firm says its programmatic physician engagement platform aims to address rising healthcare costs by using data-oriented technology to add efficiency to physician engagement and other related metrics in the ecosystem.
“While pharma companies spend a huge amount to market physicians in the traditional way, they are not able to tap the vast potential of the digital medium to grow their businesses. That is the gap Doceree plugs,” Jain said.
Doceree claims it has over one million physicians as part of its network in the US, and that its India operation has so far managed to partner with around three lakh physicians. It also claims to have signed up several pharmaceutical brands to its platform.
The investment in the company is another example of investor attention to the larger health-tech segment. Companies in the space seek to augment existing systems with technology layers, intending to increase access to healthcare and eliminating the large costs involved with it.
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