Online doctor consultation startup DocsApp has raised its series A funding of $7.2 million and the investors are Bessemer Venture Partners (BVP), Japanese investors TechMatrix Corporation and DeNA Networks. The Bangalore-based startup already has existing investors, Rebright Partners, a VC firm from Japan and Facebook angels, Anand Rajaraman and Venky Harinarayan have also participated in this round of funding of the startup.
DocsApp has a business model where, anyone can get on to its platform and seek medical consultation online and the panel of specialists that DocsApp has recruited, will be available for consultations. Currently 18 different specialties are being covered. Some of these include Gynaecology, Psychiatry, Dermatology, Cardiology, Oncology, Sexology and General Medicine.
With this current raising of funds, the startup hopes to expand its offerings, bring more specialists on board and also make fresh investments in technology that can result in overall user experience for their current and future customers.
“We want to bridge the gap between patients and specialist doctors through this platform so that people can get expert and personalised consultations on demand. The patient doesn't need to book appointments or travel to receive medical consultation. We believe that the new round of funding will help us take specialised care downstream to more remote and underpenetrated areas across the country and also help us to further strengthen our leadership position in the space,” Satish Kannan, Co-Founder & CEO, DocsApp said in a statement.
The other is even in the urban areas, there is a section among the public which is unable to physically present themselves in a hospital to consult with the specialists. The reasons for this can be many, distance to the hospital, physical inability due to old age, lack of someone to accompany to the hospital and so on. All these are quite easily addressed by the DocsApp and the prospective customers only need a smartphone with a fast internet connectivity.
The company claims it is currently serving around 50, 000 patients every month and the objective is to take it to 300, 000 a month in the foreseeable future.
“DocsApp has dramatically altered the patient and doctor experience in more ways than one – the platform on-boards only specialist doctors who are then connected with patients under 30 minutes. The platform goes a step further in understanding the patient’s condition and accordingly, connecting with the right doctor. We have been impressed by the founding team’s thought process & execution so far, and are excited to partner with them,” Vishal Gupta, Managing Director - BVP India said.