The Rounds raises $5.1M Series A to expand physician network in North America.
HALIFAX, NS, Sept. 13, 2022 /CNW/ - Halifax-based healthcare tech startup The Rounds has closed on a $5.1 million CAD Series A investment from Atlanta-based venture capital firm BIP Ventures. The Rounds has raised a total of $7.8 million CAD in funding since 2012.
The funding will be used to accelerate the development of the company's flagship product therounds.com, a free gated network for licensed healthcare professionals across North America. As part of the investment, several strategic hires will be made to bolster The Rounds' marketing, sales, and engineering teams. Physicians and healthcare professionals join The Rounds to collaborate and discuss various medical topics in specialized groups known as "Communities." As a trusted third-party intermediary, multinational pharmaceutical companies and medical associations leverage the network to deliver digital campaigns and scientific content to its premium audience of verified healthcare professionals.
"The Rounds provides a sense of empowerment for medical providers to access information from peers, experts, governing bodies, and the life science industry," said Tim Rice, CEO of The Rounds. "This round of funding recognizes that the medical community needs to catch up to other industries, and we are excited to lead the charge in modernizing virtual medical collaboration with the help of our investors."
"We are thrilled to be partnering with The Rounds as they lead the charge in fostering collaboration and accelerating knowledge sharing in medicine," said BIP Ventures Principal Austin Poole. "We believe the combination of intimate and focused communities of practice and the broader scale of the platform's membership creates a winning recipe going forward."
Since its founding in 2012, The Rounds has positioned itself as the Canadian market leader in healthcare collaboration by forging industry relationships with national governing bodies, including the Pharmaceutical Advertising Advisory Board (PAAB) and Innovative Medicines Canada (IMC). Through stringent verification and authentication processes, The Rounds and its sister pharmacy network QID have established the largest database of active verified healthcare professionals in Canada.
About The Rounds
The Rounds is Canada's leading collaboration network for physicians and healthcare professionals. Founded in 2012, The Rounds modernizes how physicians and healthcare professionals access and share information because sharing knowledge saves lives. https://therounds.com/
About BIP Ventures
BIP Ventures partners with extraordinary founders to drive exceptional outcomes. Since 2007, the firm has invested in the success of B2B software and tech-enabled service businesses at all stages of maturity. In addition to capital, we support entrepreneurs with access to infrastructure, acumen, and talent that results in category-leading companies. Our distinct multi-stage investment platform has driven consistent top-quartile returns over 15 years. For more information, visit bip-ventures.vc or follow BIP Ventures on LinkedIn, Instagram, or Twitter @bipventures
SOURCE The Rounds
For further information: Hannah Chapple, Director of Marketing and Communications, The Rounds, 902-402-2698, hannah.chapple@therounds.com
This press release was originally released on PRNewswire.
