Saturday, November 28

Doctorly scores $5.6m in seed round led by Speedinvest


Berlin-based healthtech startup, Doctorly, has raised USD $5.6m (€4.9m) in a seed round led by Speedinvest, followed by Target Global, Seedcamp, Force Ventures and UNIQA Ventures. 

Also backing Doctorly are Calm/Storm ventures and Plug & Play. 

WHAT THEY DO 

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Doctorly, founded in 2018, is a platform which aims to free doctors of the desk-based operating system (DOS), enabling them to spend more time with patients and offer more innovative, digital first services. 

WHAT IT’S FOR 

The startup intends to use the funds to “radically overhaul Germany’s GP healthcare system” through its operating system for medical practices. More than 130,000 medical practices in Germany currently rely on legacy practice software, which relies on a DOS implemented in the late 1980s.

The company is also working on enabling patients to have direct access to their medical information and connect other devices to provide real-time health updates and tracking. 

MARKET SNAPSHOT 

Late last year Germany parliament passed new rules supporting digital innovation in healthcare. Under the Digital Care Act, by January 2021 every member of a public health insurance (around 72 million people) must have access to an electronic patient record. According to Ralf-Gordon Jahns, managing director of market analyst and strategy consultancy company Research2Guidance, this will create opportunities for digital health solution vendors to dock onto the established EHR vendors over time. 

ON THE RECORD

Felix Faltin, head of digital health at Speedinvest said: “Doctorly are taking on a complex and heavily-regulated market, because they know that GPs can only win on the front line with a top-notch back-end. By building a next-gen OS that harnesses the power of tech and puts GPs back in the driver’s seat, doctorly are fast-forwarding primary care into the 21st century.” 

Mike Lobanov, general partner at Target Global, said: “As we’re facing a global health crisis now, effective practice and data management is vital to solve issues general practices face on a daily basis, and Doctorly is enabling exactly that. The implementation of Doctorly’s modern operating system for medical practices will deliver long-term value to the public healthcare system.”

Samir El-Alami, CEO and founder of Doctorly, said: “Doctors and medical staff currently spend up to 70% of their working time on repetitive administrative duties, which is a huge waste of time that could be better spent on treating patients. That’s why we decided to develop an entirely new operating system for medical practices.

“We started in Germany because it is the most regulated and complex healthcare system in Europe, so we knew that if we can develop a solution to transform medical practice management in Germany then we will rapidly scale internationally because nearly every country shares similar legacy problems.”



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