Singapore-based DocDoc which positions itself as “the world’s first patient intelligence company”, has today announced the close of an institutional capital raise of US$13 million, bringing the total funding the company has raised to date to US$24.6 million.
The financing was done on a convertible note and was led by Adamas Finance Asia Limited (ADAM), a London-listed investment company, alongside leading regional family offices, a fund managed by a global investment firm specialising in financial services and the Cyberport Macro Fund.
DocDoc’s AI-powered doctor discovery platform is reimagining the patient journey by building a patient-centric healthcare ecosystem that supports patients throughout the continuum of care and empowering them with readily digestible medical information to make well-informed healthcare decisions.
The proceeds raised will be used to support DocDoc’s market expansion and enhance its leading patient intelligence platform.
Founded in 2012, DocDoc is one of the earliest telemedicine platforms in Singapore.
Its current suite of product offerings includes doctor discovery, telemedicine, and cashless settlement.
Operating in eight countries, DocDoc boasts that it has built the largest network of doctors in Asia with over 23,000 doctors and 793 clinics and hospitals in its network.
It partners with insurance companies and corporations enabling them to reduce costs, provide a superior level of service and offer a differentiated product to their policyholders.
DocDoc’s doctor discovery service delights customers using objective metrics derived from its HOPE (Heuristic for Outcome, Price and Experience) methodology.
DocDoc’s Net Promoter Score (NPS) for the preceding 6 months stood at 86 and its average score for ‘Overall Customer Satisfaction’ was 9.1 on a scale of 10.
DocDoc has proven that it can strike the right balance between the need for transparency driven patient empowerment and the medical industry’s desire to ensure patients use only the highest quality products and services.
DocDoc believes it is embraced by Asia’s medical community, claiming that it has enrolled over 96% of the doctors it has approached across the region over the past six months.