Doctor At Work, Russia’s leading physicians’ community, has just secured $3 million from three major Russian venture funds, including 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 us – 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 percent 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 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’sInternational Young Media Entrepreneurship Award.
This article originally appeared in East-West Digital News, our partner in Russia.