DocsApp raises $7.2 million from Bessemer Venture Partners, others

Published On: 13, Dec 2017 | Source:

Health-tech startup DocsApp today said it has closed a funding round of USD 7.2 million from Bessemer Venture Partners (BVP) and Japanese investors TechMatrix Corporation and DeNA networks. Existing Facebook angel investors Anand Rajaraman, Venky Harinarayan and Japanese VC Rebright partners also participated in the series A round, the company said in a statement. The capital infusion will be leveraged towards team expansion, business growth and building up the company‚Äôs tech backbone, it added. Using DocsApp’s platform, patients can connect with specialist doctors – across 18 different specialities – for consultations via chat or call through its mobile app. Investment banking firm Masterkey Holdings acted as the sole financial advisor to DocsApp for the transaction. DocsApp co-founder and CEO Satish Kannan said the company wants to bridge the gap between patients and specialist doctors through its platform, so that people can get expert and personalised consultations on demand.

“We believe that the new round of funding will help us take specialised care downstream to more remote and underpenetrated areas across the country,” he added. He said about 40 per cent of the total consultations on its platform come from rural parts of the country. “…we serve over 50,000 patients every month, by the coming year we aim to serve over 3,00,000 patients in a month and our overall vision is to make DocsApp synonymous with a trusted platform to get authentic medical advice easily over the mobile for patients,” he added. Founded in 2015 by IIT Madras alumni Satish Kannan and Enbasekar Dinadayalane, the Bengaluru-based firm has raised a total of USD 8.4 million till date. It supports 18 specialities such as gynaecology, psychiatry, dermatology, cardiology, oncology, among others. DocsApp aims to touch 100 million patients in the next five years across India and Southeast Asia.