The company will further increase investment in technology research and development and accelerate the expansion of new businesses.
Pharma MarTech one-stop solution provider 100Doc Technology (Chinese: 医百科技) secured tens of millions of USD in Series B financing from HM Capital and Korea Investment Partners recently. Lighthouse Capital served as the exclusive financial advisor for this round of financing.
Founded in 2016 and headquartered in Beijing, 100Doc Technology is a leading domestic pharmaceutical marketing digital transformation service provider. It is committed to empowering the marketing side of pharmaceutical equipment companies and serves the full lifecycle of pharmaceutical marketing via its self-developed Pharma MarTech architecture.
In the past 5 years, 100Doc Technology has invested over CNY100 million in research and development, and independently developed the 100.pMarTech SaaS platform. Its product matrix includes 100.eMarketing pharmaceutical digital marketing products, 100.CRM+ intelligent representative workbench, 100.eHospital Internet hospital and 100.AiData intelligent data platform.
For the three years from 2019 to 2021, 100Doc Technology achieved a nine-fold increase in earnings. At present, it has served more than 1,000 pharmaceutical companies and over 100 associations accumulatively, partnering with more than one million doctors and tens of thousands of hospitals.
“The penetration rate of Chinese pharmaceutical companies' digital marketing is far lower than the global average, and it's a CNY 100 billion-level market. As a leading digital marketing service provider in China, 100Doc Technology has significantly invested in technology and has a deep insight into this industry. We believe that the integrated marketing platforms including 100Doc Technology will definitely help the digitalization of the industry,”said Li Bingmin, vice president of KIP Capital.
The main competitors of 100Doc Technology include Veeva (NYSE:VEEV), Naxions and Qingyun Pharmaceutical Technology.