Doximity Passes 50 Percent Penetration With US Physicians


San Mateo, CA-based digital health startup Doximity announces that, over the past year, its user base has grown to include more than 50 percent of the US physician population. Doximity is a social media platform designed exclusively for doctors, often described as the MD’s LinkedIn. The site now has 400,000 of the 770,000 licensed MDs in the US registered on its site.

"We’re excited about 50% — it’s a huge milestone for us — but we still have a long way to go toward our vision of building a safe corner of the internet for clinicians to collaborate. Doctors deserve to have better technology than teenagers." -Jeff Tangney, Doximity CEO and founder.

The milestone has not come cheap for Doximity. The company launched in 2011, and has raised $81 million in VC funding, including a $54 million Series C that it closed in April 2014. The company’s early money was spent adding functionality to its platform and heavily recruiting new members. Fortunately, various monetization strategies are beginning to pay off and it saw its first revenue-positive month pass earlier this year. The company reports that as a result, it is operating purely on revenue and the entirety of the $54 million in new funding is sitting untouched.

Beyond offering users a LinkedIn-like profile for professional networking, Doximity has extended its platform to provide a free, HIPAA-compliant text message and image sharing app for users, competing with more recognized paid versions from Vocera and TigerText. The platform also delivers personalized news and research updates that not only help doctors stay up to date on best practices, but also generate continuing medical education credits as users read articles. The site has also added a careers section where doctors can search for new jobs. To date, the platform has over 200,000 job opportunities listed.

Collectively, Doximity seems to have hit its stride, delivering enough functionality to draw in a critical mass of physicians, and finding ways of monetizing that audience through targeted advertisements and other third-party business relationships. It will be interesting to watch Doximity as time goes on to see if its users grow weary of its monetization strategies, a problem traditional social media companies regularly struggle with.

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