Doximity: Financing a Social Network for Physicians

Despite the existence of large social networks such as Facebook and LinkedIn, co-founders Jeff Tangney and Dr. Nate Gross, that there is a unique opportunity to create a social network especially for doctors. The two envisioned a social network that would allow doctors to find any doctor in the US, regardless of whether or not they had signed up with Doximity. By combining hundreds of medical databases and journals on a single platform, Doximity would have instant information on nearly every U.S. doctor, including their medical school, specialty, location, phone number, fax number, and articles from related magazines. In addition to finding physicians, Doximity would enable HIPAA secure messaging between all physicians in the United States. Ultimately, Doximity would provide personalized news and research tailored to clinical interests on its Doximity profiles. Doctors of any geography or specialty would get the most current and relevant information without reading dozens of journal articles. Tangney and Gross’s vision turned out to be a great success; In just two years, Doximity became one of the largest networks for healthcare professionals in the US, with approximately 10 percent of US physicians as members. As of early 2014, 40 percent of American physicians had registered on the Doximity platform. Doximity: Financing a Social Network for Physicians examines how Tangney and Gross raised capital for their fast-growing healthcare company.

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