Healthcare Business News
 
Jeff Tangney
Tangney

Doc social-network startup Doximity raises $54 million


By Joseph Conn
Posted: April 30, 2014 - 1:30 pm ET
Tags:

Doximity, the newest offering from health information technology entrepreneur Jeff Tangney, has raised $54 million in series C funding, the San Francisco-based company announced Tuesday.

Series C funding is normally the third round of funding for a technology startup and traditionally is used to accelerate growth and company expansion.

Advertisement | View Media Kit

 

Launched in 2011, Doximity bills itself as a “vertical social network,” providing connectivity for physicians.

Investors listed in this round include Draper Fisher Jurvetson, funds and accounts managed by T. Rowe Price Group, Morgan Stanley Investment Management, Emergence Capital Partners, Morgenthaler Ventures and InterWest Partners.

Tangney was the co-founder of Epocrates, a drug, disease and diagnostic reference tool on mobile devices named two years running by Modern Healthcare readers as their favorite mobile application.

Launched in 1999, Epocrates was sold to Athenahealth in 2013 for a reported $293 million.

“Our success is built on solving small problems for doctors every day,” said Tagney, the CEO and founder of Doximity, in a news release.

“With T. Rowe Price and DFJ on board, we look forward to continuing our work to make physicians more connected and successful,” he said. The company claims an average of 20,000 “peer-to-peer” messages are sent through its network on any given business day, and that it had its first month of positive cash flow in January.

Follow Joseph Conn on Twitter: @MHJConn


What do you think?

Share your opinion. Send a letter to the Editor or Post a comment below.

Post a comment

Loading Comments Loading comments...

Search ModernHealthcare.com:


 

Switch to the new Modern Healthcare Daily News app

For the best experience of ModernHealthcare.com on your iPad, switch to the new Modern Healthcare app — it's optimized for your device but there is no need to download.