“Doctor At Work,” Russia’s leading physicians’ community, has just secured $3 million from three major Russian venture funds – existing investors Aurora Venture Capital and Bright Capital, and new investor Guard Capital.
The deal valued the startup at $16.5 million. A part of the funds – less than one third, Bright Capital’s press service told East-West Digital News – went to buying out minority stakes from seed-stage investors.
With more than 200,000 registered practitioners, the site claims to serve more than 25% of all doctors in Russia. Its monthly audience exceeds 115,000 unique users who generate over 100,000 publications and comments each month. The site’s turnover exceeded $1.5 million last year. Among its clients are a dozen of major global pharmaceutical companies, which view the community as one of the few legal channels to promote prescription drugs.
Doctor At Work’s previous rounds of financing amounted to $300,000 in 2010, $500,000 in 2011 and $1 million in June 2012.
Since its inception in 2009, the site has won several Russian awards as well as the British Council’s International Young Media Entrepreneurship Award.