Docquity, SE Asia’s social network for doctors, banks $44m in Series C financing

Docquity, Southeast Asia’s largest community of healthcare professionals, announced that it has raised $44 million in total in its Series C financing round, anchored by Japan’s Itochu Corporation.

Itochu, which put in $32 million in the funding round, was joined by other investors, including iGlobe Partners, Alkemi, Global Brain, KDV, and Infocom. The Series C round brings Docquity’s total funds raised to date to $57.5 million.

In a statement, Docquity said the new funding will further strengthen its scale in its operations within existing markets and drive the company’s on-going growth momentum in Asia and globally.

As the platform that connects two out of three doctors in Southeast Asia, Docquity has more than 300,000 doctors learning, connecting, and collaborating through knowledge exchanges and verified content across multiple medical specialties. The goal is to help doctors be more informed and make better diagnosed decisions.

Docquity focused on data insights such as doctors’ behaviours and tailored the consent-driven platform so that it is secure, real-time and easy to use.

“Investors are seeing that we are able to achieve what we set out to do. We are now reaping from the foundations that we have built over the years; enabling Southeast Asia’s largest healthcare professional community to build healthier lives at scale and mitigating geography and knowledge boundaries for doctors,” said Docquity CEO and Co-Founder, Indranil Roychowdhury.

This latest investment will be used to further strengthen Docquity’s presence across Southeast Asia, including Indonesia and the Philippines, and further penetrate into new markets in North Asia such as Japan and the Taiwan region – building on the growth momentum in Asia.

In addition, Docquity aims to expand into the Middle East, starting with the United Arab Emirates, Saudi Arabia and Egypt.

“We have seen the company grow from strength to strength since the early days – from bringing in some of the best people to scaling the business into a thriving community of doctors and clients in Southeast Asia. We are excited to further support the expansion of Docquity’s business in Asia,” said Hiroshi Kajiwara of Itochu Corporation, the Series C’s lead investor.