Doximity, a professional network for physicians, has raised $17 million in a Series B financing round led by Morgenthaler Ventures, with participation from returning investors Emergence Capital Partners and InterWest Partners. The round brings the company’s total funding to $27 million.
Since Doximity’s Series A funding 17 months ago, Doximity has grown 15-fold to over 1 in 7 U.S. physicians on its network, says the company. 3 out of the top 5 medical schools (Stanford, UCSF, University of Pennsylvania) partner with Doximity to run their own alumni networks. More than 2,000,000 physician-to-physician connections have been made on the Doximity network, says Doximity. Over 60,000 US physicians are active Doximity users.
Doximity is the first ‘real-name’ authenticated online professional network designed exclusively for U.S. physicians. Physicians cannot use traditional social networks, email or SMS texting to discuss patients due to federal HIPAA laws that require medical-grade security for protected health information.