Doximity, which is often referred to as LinkedIn for doctors, has managed to close a $54 million Series C round, bringing the company’s total funding to $81 million. The funding was co-led by DFJ, and funds and accounts managed by T. Rowe Price Associates, Inc. Furthermore, funds and accounts managed by Morgan Stanley Investment Management also participated in the round as new investors.
With over 1 in 3 US doctors as members, Doximity has more than tripled its user base since its last funding round in September 2012 and had its first cash-flow positive month in January 2014. In just three years since its launch, the service has attracted a physician membership larger than that of the American Medical Association (AMA).
Doximity offers a suite of free professional tools dedicated to making the practice of medicine easier and more connected for doctors. It is on track to have half of US physicians as members by this summer.