Docline closes €3M investment round – #BHHMembersInitiatives
Last week, BHH member Docline, the digital health company from Malaga, raised a €3 million pre-series A funding round. With this operation, Docline has positioned itself as the healthtech of reference and expands its international growth perspective after gaining the confidence of investors with a strong technological component and companies specialised in the health sector.
For Omar Najid, CEO and co-founder of the company, the main objective of thisfinancing round is, on the one hand, the consolidation of Docline in Spain, and on the other, “to export our model to other emerging international markets where there is an opportunity to help companies positively impact the health and quality of life of millions of people.” The company already operates in Morocco and Latin America, markets that he hopes to consolidate with this round of investment.
Technology to solve problems in the healthcare sector
Following its mission to make healthcare more accessible through technology, for anyone, anytime, anywhere, Docline, founded in 2016 by Omar Najid (CEO) and Roberto Medina (Medical Director), has gained the trust of its customers and investors by offering the solution to two of the most important problems in the healthcare sector: the delay in its digitalisation and the lack of doctors.
To this end, Docline‘s proposal offers the possibility of automating processes and digitalising services by providing remote patient care through a complete suite of more than 15 functionalities, from communication (video consultations, medical chat, telephone calls) to the issue and receipt of private and approved electronic prescriptions thanks to its integration with more than 23,000 dispensing chemists in Spain.
To this end, Docline is a strategic partner for companies and private clinics, offering a virtual care model thanks to the most complete and integrable technological product on the market, through its robust API, and a network of 5,000 digital doctors that allows for ad-hoc immediate responses 24 hours a day in general medicine, paediatrics and other specialities on demand. This makes up for the current shortage of medical professionals in insurance companies, where patients take an average of four weeks to be able to see a specialist from the time they request it.
Who is behind the investment round?
The round was led by the renowned US-based global investment group SEAF and its spin-off fund EmergingTech Ventures. Based in Washington DC, SEAF manages more than USD 1 billion in 36 funds in 33 countries with a special focus on emerging markets and high impact sectors such as healthcare, while EmergingTech Ventures is a Casablanca-based fund led by investment professionals with extensive experience investing in tech companies.
Other funds have also been part of this round, such as Sherry Ventures, an investment group specialising in innovation and technology that has invested 250 million euros in the last three years in companies around the world.
Consolidation in Spain and international expansion
The support of these investment groups joins the confidence of large corporations such as BHH member MAPFRE, the Madrid College of Physicians (50,000 doctors), Vithas, Grupo San Juan de Dios, IVI or Grupo MOK, present in 5 Latin American countries. It confirms the success of Docline ‘s model and its commitment to investment in R&D in the healthcare sector.