DocDoc secures investment from Cyberport Macro Fund
By Digital News Asia February 28, 2019
- Brings the total funding DocDoc has raised to date to US$18.5 million
- Provides data-driven doctor discovery services to insurance policyholders
DOCDOC Pte Ltd, an Asian patient empowerment company, has secured a strategic investment from Cyberport Macro Fund (CMF), and will open a new office in Hong Kong’s Cyberport. This recent investment from CMF brings the total funding DocDoc has raised to date to US$18.5 million (RM75.22 million).
DocDoc, combining Asia’s largest network of doctors with an AI-powered doctor discovery platform, will use the proceeds from its latest fundraising to expand its market presence in Hong Kong and strengthen its network of doctors in the region.
It will leverage on Cyberport’s facilities, infrastructure and its network to continue to expand its insurance footprint in the region, providing data-driven doctor discovery services to insurance policyholders.
“We believe the investment from CMF reflects Cyberport’s commitment to empower leading health technology companies. We are proud to have received this tremendous vote of confidence from Cyberport and look forward to embarking on the next wave of growth alongside Hong Kong’s thriving Cyberport community of ultra-innovative high-growth companies.
“By putting the patient first within our product suite of doctor discovery, telemedicine, and cashless settlement, we seek to deliver a fundamentally better experience to our users and offer our insurance partners an unrivalled competitive edge,” said DocDoc Co-founder and chief executive officer Cole Sirucek (pic, right).
Cyberport, a wholly owned entity of the Hong Kong SAR government, is a digital community in Hong Kong, and has accelerated the growth of the city’s technology community. The innovation hub combines world-class facilities, capital investments, and a vision to develop the digital technology industry as a key economic driver for Hong Kong.
“Cyberport is committed to promoting and facilitating the development of digital technology. The Cyberport Macro Fund in cooperation with resourceful tech investors aims at providing funding to tech start-ups with high growth potential. I believe this co-investment fund can help to connect start-ups with suitable investors and open up more funding opportunities for entrepreneurs to grow their business.”
Cyberport chairman Dr. George Lam, continues, “DocDoc is a member of the Cyberport community. The company combines an artificial intelligence powered doctor discovery platform with great customer service to effectively connect patients to high quality care based on the patient’s unique medical needs.
“This offering is available to insurance companies as a value-added service. I believe this unique business model can bring forth new momentum and innovation to the insurance market in Hong Kong and Asia. With the establishment of DocDoc's new office in Cyberport, we look forward to this startup's bright future.”
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