The Singapore-based patient intelligence platform raises funding led by Adamas Finance Asia Limited (ADAM), a London-listed investment company

Singapore-based healthtech startup DocDoc Pte. Ltd. announced that it has closed a funding round of US$13 million led by Adamas Finance Asia Limited (ADAM), a London-listed investment company.

This is the second time ADAM invested in the company, after putting in a convertible note of US$2 million in March 2018.

Joining the round are regional family offices, a fund managed by a global investment firm specialising in financial services, and the Cyberport Macro Fund.

To date, DocDoc claimed it has raised a total of US$24.6 million.

DocDoc said it plans to use the funding for market expansion and improving its patient intelligence platform.

The company offers products such as doctor discovery, telemedicine, and cashless settlement in eight countries.

Its doctor discovery service uses objective metrics based on what the company called “HOPE”, which stands for Heuristic for Outcome, Price, and Experience.

Also Read: Healthcare IT firms are easy to start but really difficult to build, says DocDoc CEO Cole Sirucek

In Asia, DocDoc claimed to have over 23,000 doctors and 793 clinics and hospitals in its network. It partners with insurance companies and corporations to enable them to reduce costs and offer a variety of products to their policyholders.

“We believe that our patient intelligence platform has the potential to redefine the delivery of healthcare. We do so by enabling our partners to save money, boost engagement, and provide their customers with measurable ways, which all comes down to helping real people with real problems,” said Cole Sirucek, DocDoc Co-founder and CEO.

Before the funding last year and this round, DocDoc raised US$8.7 million in Series A funding in 2015, led by Hong Leong Financial Group President and CEO Raymond Choong Yee How, with participation from Sparklabs Global Ventures.

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Image Credit: DocDoc

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