Singapore’s doctor discovery startup DocDoc raises $5.45m

Singapore-based doctor-booking platform DocDoc has raised $5.45 million in its latest funding round, which was led by London-listed investment firm Adamas Finance Asia Limited (ADAM).

ADAM invested $2 million in the latest funding round of the Singapore-startup via convertible bond offering. Regional family offices and high net worth individuals also joined in the fundraising.

“The investment has come at a most opportune time as we scale our value-added doctor discovery service in conjunction with the region’s largest insurance companies,” DocDoc’s Co-founder and CEO, Cole Sirucek: said in a statement.

This is in addition to the $18.6 million that the startup previously raised, making it one of the highest funded healthcare startups in Asia.

Operating in eight countries with over 23,000 doctors, DocDoc connects patients to the most suitable doctor for their health needs. This process allows patients to find best-priced treatments, better outcomes, and improved experiences.

In Asia’s healthcare market, most decisions related to healthcare needs, finding doctors, or seeking treatment are based on recommendations from personal network or other sources that do not have concrete data.

“DocDoc leverages the latest in clinical informatics, artificial intelligence and healthcare quality assessment across Asia’s largest healthcare provider network to deliver simple yet powerful solutions,” the company said.

DocDoc’s basic premise borrows from ZocDoc, the New York-based startup, though it has evolved quite differently.

ADAM’s Chairman John Croft said, the investment was in line with the firm’s strategy of providing its shareholders with a diversified pan-Asian portfolio to maximize income and potential capital gain.

“The transformation of the ADAM portfolio is fully underway and the DocDoc investment represents an important step in creating London’s leading diversified, growth and income pan-Asian investment company,” Croft said.

Also Read:

Singapore’s DocDoc raises $8.5m in Series A round led by Hong Leong Financial Group

Exclusive: Malaysia’s health-tech platform BookDoc on road to raise seed cap, wants to be more than booking app

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.