QuantiaMD raises $12M for physician collaboration platform

By Brian Dolan
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QuantiaMDWaltham, Massachusetts-based QuantiaMD, which offers a mobile and online physician community and collaboration platform, raised a $12 million round of funding from return backer Fuse Capital. The company plans to use the funds for building out its platform's capabilities and better meet the needs of payers, health systems, and others who leverage QuantiaMD to engage with physicians. It will also help it increase sales, marketing and client services for pharma companies that use QuantiaMD to reach physicians.

QuantiaMD claims that more than 25 percent of practicing physicians are active members of QuantiaMD. The average user spends about 45 minutes per week on the platform, which enables doctors to share insights and interact with hundreds of top experts from various medical specialties. The company says it has 160,000 registered and validated physicians on its platform, including more than 500 expert faculty from top academic institutions. About one third of QuantiaMD users access the platform exclusively from their mobile devices.

“Most health plans and hospitals still rely heavily on homegrown portals, fax and mail to communicate with physicians,” Eric Schultz, CEO of QuantiaMD stated in a release. “These methods are time-consuming, antiquated and ineffective, given how physicians work today. Our scalable platform is fully mobile and easy to leverage for clients who need to engage physicians in fast, high-quality interactions that drive education and positively impact clinical behavior.”

The platform's customers include nine of the top 12 pharmaceutical companies in the world, according to the company.