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The world’s first Programmatic Physician Engagement Platform, Doceree Inc., announced it has raised $1 million in seed funding from an assortment of angel investors from the United States and India. The New Jersey-based company secured the funding in spite of the unprecedented COVID-19 pandemic that is tanking stocks worldwide, creating a crash in investment globally.
The health-technology startup plans to use the seed money to acquire customers, recruit talent, and ramp up its operations in the US and India. The plan is to scale up its technology operation to further digitize the experience of physician engagement.
Raising the seed money was led by the founder and CEO of Beyond Codes, Kumar Gaurav. Gaurav enticed other investors with advertising and the pharmaceutical industry also chipped in.
Doceree connects digital platforms and pharma brands, allowing pharma products and services to be marketed to physicians on the platform.
Founded in 2019, Doceree’s goal is to address the issue of rising healthcare costs by bringing effective efficiency to physician engagement by using both creativity and data in healthcare marketing.
Dr. Harshit Jain, Founder, and CEO, Doceree, began his career as a healthcare specialist. Later, Dr. Jain turned to full-time healthcare marketing. Doceree plays a vital role in improving healthcare delivery as well as outcomes by building brand relationships with healthcare providers. The company also strives to add real, long-term value to healthcare providers through data-driven marketing.
Doceree has also recruited investor Rahul Gupta to the management board. Gupta is a serial investor in more than fifteen Information Technology Enabled Services, Healthcare as well as real estate businesses.
“In the healthcare space, there is a lot of data that is underutilized. When used efficiently, this data can dramatically change the way doctors are engaged. The challenge is, despite changing dynamics and the surge of digitization, it’s still hard for pharmaceutical companies to approach doctors on a digital platform. While pharma companies spend a huge amount of time and money marketing to doctors in the traditional way, they’re unable to tap the potential of the digital platform to grow their sales. That’s the gap Doceree fills by helping them make the most of the digital doctor ecosystem through its Programmatic Physician Engagement Platform,” said Dr. Jain.
Doceree has experienced massive growth since it launched in the US. The company was able to create a network of one million doctors in a very short time.
After gaining a good foothold in the US market, the company launched its operations in India in mid-March. Doceree advanced its efforts by allowing pharmaceutical companies to gain access to doctors on its platform during the coronavirus pandemic for free. That move supported physicians when their usual medical and sales representatives were locked down.
“Doceree’s concept of programmatic physician engagement is innovative and one-of-a-kind. It became a vital tool for pharma companies to reach out to physicians during the COVID-19 crisis. That placed greater importance on the platform. The future of digital access to doctors is very promising and we really believe in Doceree’s vision,” said Rahul Gupta.
The company duplicated the response it received in the US in India, with the Indian network of doctors already reaching 300,000. A large number of well-known pharma brands and digital platforms are already using Doceree in both the US and India.
Doceree’s platform is powered by a unique Espyian AI engine. This helps to maximize healthcare professional engagement with pharma brands on digital platforms.
The platform brings demand-side and supply-side together for messaging to healthcare professionals on a simple self-service interface. This helps pharma brands harness the full potential of engagement on standalone publisher platforms. Doceree also assists other digital platforms to generate revenue by partnering with it.
The company enables pharma to market to doctors by using AI to automatically serve ads. This reaches the right user with the right ad at the right time. It optimizes efficiency with click-through conversions. In the end, this reduces costs and ensures an effective means of measurement on a company’s return on investment.