GERMAN HEALTH-TECH DOCTORLY CLOSES $10M SERIES A

Berlin-based healthtech, doctorly, has raised $10m for its series A round from WELL Health Technologies and Horizons Ventures

BERLIN, GERMANY, March 1, 2023 /EINPresswire.com/ — Berlin-based healthtech, doctorly, has raised $10m for its series A round from WELL Health Technologies and Horizons Ventures, who also invested in N26, wefox, facebook/Meta, Skype, and Deepmind. The round also included The Delta, Speedinvest, UNIQA Ventures, Calm/Storm and Seedcamp.

WELL Health Technologies, which is a publicly traded company and the leading HealthTech in Canada, and doctorly will also work on shared projects within the German healthcare market.

doctorly was founded in 2018 to completely overhaul the highly regulated medical practice software industry. Starting with Germany, which still uses software from the 1980s, doctorly has built a new regulated operating system that reduces administrative time by up to half.

According to the ‘Kassenärztliche Bundesvereinigung’ (KBV) statistics, (the regulator for state practicing doctors in Germany), medical practices spend an average of 61 working days a year, the equivalent of three months, on administrative tasks.

Samir El-Alami, CEO and founder of doctorly, said: “This funding round is a strong validation of our vision for a significantly better digitized and efficient healthcare system, which is backed by excellent customer feedback and very positive sales traction.”

“We’ve worked closely with doctors and healthcare professionals since we started the business to build a new operating system for the entire primary care market. Our close partnership has enabled us to build a practice management system that is modern, simple to use, secure and connects with other modern technologies, making doctorly the first VC backed company to have all of the regulatory approvals needed to sell our software in Germany.

“Nearly all medical practices still use a local, on-premise network, and paper and physical disks to store and transfer data. doctorly enables medical practices to take advantage of cloud computing technologies, while providing world class data security and privacy protection. We also provide the quality customer service levels desperately needed in the industry,” added El-Alami.

doctorly plans to invest the round in accelerating its growth in Germany, and delivering new features and functionality to reduce administrative costs and save time to make work for healthcare professionals easier and faster. doctorly will be hiring for several roles over the next six months to fuel the company’s growth.

Mr. El-Alami said: “Our current focus is to reduce the amount of time wasted on repetitive administrative tasks and processes within practices, while also delivering easier and better data driven insights, which enables doctors and medical staff to spend more quality time with their patients in the secure knowledge that they are using software that enhances modern standard of healthcare.”

“We know that medical professionals are very open to digitisation, but because their mandatory, core practice software is so old and unable to integrate with modern technologies, they are simply trapped in the past. This has a knock-on effect on patients and the wider healthcare industry. This is the biggest blocker to innovation in primary healthcare and we have built a new operating system that works for them,” added El-Alami.

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John Shewell
Aqoja (on behalf of The Delta)
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