Doximity gets $54 million Series C funding from T. Rowe Price and VC firm DFJ
The biggest professional healthcare network in the United States, Doximity has raised $54 million Series C funding round from financiers including VC firm DFJ and T. Rowe Price.
Targeted social networks have been proven beneficial for professionals in various setors. Investors have committed significant amounts to social platforms including Wattpad, Avvo and SpiceWorks. These companies have raise around $200 million investments from January.
Meanwhile, Doximity has already taken the lead when it comes to accessing the healthcare industry in the US market. The San Francisco based company’s networks included one in three doctors as members and continue to create new services.
T. Rowe Price and Morgan Stanley Investment Management’s accounts which has backed the startup in the latest funding round showed that this would be the last for the company before it launches an initial public offering.
The executives at Doximity did not disclose information about its investment plans in the future. However, CEO Jeff Tangney said that the financing would be used on company expansion. Tangney said, “We’re moving from 40% to 70% [enrollment] and expanding internationally.”