Berlin-Based Healthtech Doctorly Has Raised $10M for Its Series a Round

Berlin-based healthtech, doctorly, has raised $10m for its series A round from WELL Health Technologies and Horizons Ventures, who also invested in N26, wefox, facebook/Meta, Skype, and Deepmind. The round also included The Delta, Speedinvest, UNIQA Ventures, Calm/Storm and Seedcamp.

Technology, the safest bet for improving healthcare

Technology is impacting healthcare on various levels. Technology can make the experience better for both patients and healthcare providers. It can improve patient outcomes, and, from a healthcare provider’s point of view, it can streamline processes and workflow, improve efficiency, and create new revenue streams.

Although the future of technology is hard to predict, it will certainly continue to impact the healthcare industry.

Meanwhile, healthcare technology has already improved our quality of life, innovation in the area resulting in longer lives and also higher costs of care. Today, we cure incurable diseases, extend life where near-term death was previously certain, and can adjust someone’s medication to their genetic code to ensure it works better. We can even predict who is most likely to get sick and what care will help them avoid illness altogether. 

When it comes to technology in healthcare, VR is one that enables users to interact with objects and other people in a 3-dimensional (3D) virtual environment. This happens through VR goggles and other mobile devices. That said, VR makes interaction look real. The virtual environment can also imitate the physical world that no other technology can make possible. In 2022, news and studies showed that VR had been used in various medical practices and settings. Physical therapists find VR helpful in assisting patients who are recovering from a stroke, particularly in relearning day-to-day activities. Medical professionals also find VR helpful in analyzing the various nerves in the human body.

With that said, it’s no wonder why VR technology can now also be applied to oral health. 

But while some medical professionals got on board with the change earlier in the trend, others still need to update their practices and this is where doctorly comes in. 

A new operating system for the entire primary care market in Germany

WELL Health Technologies, which is a publicly traded company and the leading HealthTech in Canada, and doctorly will also work on shared projects within the German healthcare market.

Samir El-Alami, CEO and founder of doctorly, said: “This funding round is a strong validation of our vision for a significantly better digitized and efficient healthcare system, which is backed by excellent customer feedback and very positive sales traction.”

“We’ve worked closely with doctors and healthcare professionals since we started the business to build a new operating system for the entire primary care market. Our close partnership has enabled us to build a practice management system that is modern, simple to use, secure and connects with other modern technologies, making doctorly the first VC backed company to have all of the regulatory approvals needed to sell our software in Germany. Nearly all medical practices still use a local, on-premise network, and paper and physical disks to store and transfer data. doctorly enables medical practices to take advantage of cloud computing technologies, while providing world class data security and privacy protection. We also provide the quality customer service levels desperately needed in the industry,” added El-Alami.

The company aims to reduce administrative time in healthcare by up to half

doctorly was founded in 2018 to completely overhaul the highly regulated medical practice software industry. Starting with Germany, which still uses software from the 1980s, doctorly has built a new regulated operating system that reduces administrative time by up to half.

According to the ‘Kassenärztliche Bundesvereinigung’ (KBV) statistics, (the regulator for state practicing doctors in Germany), medical practices spend an average of 61 working days a year, the equivalent of three months, on administrative tasks.

doctorly plans to invest the round in accelerating its growth in Germany, and delivering new features and functionality to reduce administrative costs and save time to make work for healthcare professionals easier and faster. doctorly will be hiring for several roles over the next six months to fuel the company’s growth.

Mr. El-Alami said: “Our current focus is to reduce the amount of time wasted on repetitive administrative tasks and processes within practices, while also delivering easier and better data driven insights, which enables doctors and medical staff to spend more quality time with their patients in the secure knowledge that they are using software that enhances modern standard of healthcare.”

“We know that medical professionals are very open to digitisation, but because their mandatory, core practice software is so old and unable to integrate with modern technologies, they are simply trapped in the past. This has a knock-on effect on patients and the wider healthcare industry. This is the biggest blocker to innovation in primary healthcare and we have built a new operating system that works for them,” added El-Alami.