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Quantia snags $10M for social networking site for doctors

Quantia, an online community for doctors and the healthcare companies that want to market to them, has $10 million more in the bank. On Tuesday, the company said it had raised $7.5 million from Safeguard Scientifics in a $10 million Series B round. Current investors, including Fuse Capital, contributed the remaining $2.5 million. The round follows $12 million raised in October and will be used for sales and marketing, the company said.

As doctors’ schedules become ever tighter, leaving less time for pharmaceutical sales reps and others peddling healthcare products and services, Quantia claims its site QuantiaMD gives doctors a place to engage with peers, while giving clients an effective environment for marketing. The service is free to doctors but charges other companies interested in building a presence on the site.

For doctors, a site like Quantia offers a private and secure place to tap the wisdom of peers — and that’s becoming increasingly attractive to physicians concerned about an uptick in government scrutiny surrounding digital health information. But it’s hardly the only site that offers peer-to-peer networking for medical professionals.

Doximity, a “LinkedIn(s lnkd) for doctors,” provides physicians a free site for collaboration while earning revenue by charging clients who want to recruit doctors and find medical experts. And Sermo, which was acquired last year by health intelligence company WorldOne, also provides a peer forum for doctors while charging other companies to conduct online focus groups and surveys among its community. In addition to the funding, Quantia said it had surpassed 200,000 members, a benchmark similarly exceeded by Doximity last month.

2 Responses to “Quantia snags $10M for social networking site for doctors”

  1. Michael Sinsheimer

    I’m skeptical of this model and I’d love to see the metrics of physician engagement vs. how many physicians are signed up to date. How many visits per week and how much time at the site for each visit being the first two I’d evaluate to see if this is a valuable site for marketers, etc.

    • I was kind of thinking along the same lines. If it is true that “…doctors’ schedules become ever tighter…”, then it seems to make no sense to assume they’ll spend any time engaging with marketing messages. This just seems like “spamming a captive audience”, which is not a good business model, especially when the audience walks.