Physician engagement startup Doceree raises $35 million led by Creaegis

Healthtech startup Doceree, which operates a network of physician-only platforms for programmatic messaging, on Wednesday said it has raised $35 million in a Series-B funding round led by Creaegis.

Existing investors Eight Roads Ventures and F-Prime Capital also participated in the round, as per the statement. The funds will enable Doceree to accelerate product development, augment technologies, scale global expansion and expand the team, it added.

Founded in 2019, Doceree helps pharmaceutical and life-sciences companies and healthcare media agencies with solutions that seamlessly reach healthcare professionals (HCPs) on their networks and within their digital workflows to achieve better patient health outcomes.


“The pharma messaging space is evolving at a fast pace and our solutions are aligned to meet the immediate requirements of the life sciences industry. The investment speaks volumes about the value we are creating in the space,” Harshit Jain, founder and global CEO, Doceree, said.

Jain told ET that the company is currently looking to spruce up an M&A playbook and is set to acquire another player in the healthtech space by the end of the current quarter in the US and will also prioritise increasing its talent base in the coming quarter.

The company, based on a software-as-a-service model, has its business spread across 21 countries. With offices across New Jersey, London and New Delhi, it has expanded business across regions of Africa, Southeast Asia, and the Gulf Cooperation Council, in August.

About 80% of Doceree’s revenues are housed in the US market, Jain added. It works with eight out of the 10 pharmaceutical companies in the region. It employs a total of 150 staffers across its offices. The enterprise turned back to being profitable over six months ago, Jain told ET.

Doceree has grown more than 100% in the last one year with monthly revenue rising five-fold between the Series A
funding in April 2022 and now.

Its products include Doceree Enterprise, an HCP-focused global Demand Side Platform, and Doceree Provider that lets HCPs improve health outcomes of their patients. Its HCP marketing ecosystem consists of custom-built solutions that equip life science marketers to engage with physicians.

“Our past experience of investing in pioneering global SaaS companies and in the healthcare ecosystem will enable us to support the company’s mission to create superior outcomes for pharma brands, providers and patients,” Prakash Parthasarathy, managing partner and CIO and Nitish Bandi, partner, Creaegis, said jointly.

The New Jersey-headquartered startup had last raised capital in April 2022 with a $11 million in Series A funding round led by Eight Roads Ventures, a global investment firm backed by Fidelity. The next month, Eight Roads had announced launching its first dedicated India healthcare and life sciences fund of $250 million.

The latest funding round brings the total tally to $48 million.