The Berlin-based healthtech company, doctorly, has announced an additional $7.2M (approximately €6.72M) boost to their Series A funding, bringing the round’s total to $17.2M (close to €16M). This includes the $10M (around €9.39M at the time) raised earlier in February 2023.
Backers Rally Behind Healthtech Firm Doctorly
The financing round for doctorly was spearheaded by Simon Capital from Dusseldorf, receiving support from the entrepreneurial family associated with the Bitburger Group among its backers.
The funding round also saw participation from Geschwister Oetker Beteiligungen KG, UNIQA ventures, and various family offices dedicated to healthcare innovation in Germany and Asia.
Jan Leicht, a partner at Simon Capital, commented on the widespread dissatisfaction with current software solutions in German healthcare, pointing out the urgent need for digitization. He expressed confidence in doctorly’s potential to lead a digital transformation in healthcare infrastructure.
Additionally, HealWELL, a company focused on AI and data science in preventative care, has invested in doctorly and is set to partner on AI-driven health data projects in Germany.
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“Redefining Practice Management Software.”
Founded in 2022 by Samir El-Alami, Nicklas Teicke, Anna Von Stackelberg, Sebastian Lau, and Alexandru Boghean, with Julian Teicke as the founding investor, the Health Tech Startup is on a mission to transform the regulated medical practice software sector. Initially targeting Germany’s outdated market, doctorly has introduced a new regulated operating system that promises to slash administrative time by up to half.
doctorly stands out as the sole venture capital-supported entity in Germany authorized to operate within the traditional practice management software space, positioning it for significant market expansion within the next year and a half.
Co-founder Samir El-Alami expresses satisfaction with the company’s sales progress, noting an upward trend in their conversion rate and a strong demand from doctors burdened by administrative tasks. El-Alami emphasizes that doctorly is not just an ancillary service but a full-fledged replacement for obsolete systems, offering a modern, cloud-based solution tailored to the needs of 21st-century healthcare professionals.
Funding Usage
The firm intends to allocate the newly acquired funds towards scaling its operations in Germany, augmenting its platform with innovative features, and slashing administrative expenses for medical practitioners, ultimately saving time.
Co-founder Samir El-Alami remarks on the challenge of transforming the deeply rooted practice management software sector, viewing the current software as a major obstacle to digitization in German healthcare. He notes the necessity of this software for state practices and criticizes the subpar standards of existing solutions.
Additionally, doctorly is expanding its team to bolster its commercial growth.
