{"id":47248,"date":"2023-10-20T15:52:57","date_gmt":"2023-10-20T15:52:57","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/medical-startup-hotdoc-gets-a-healthy-cash-injection-startupsmart\/"},"modified":"2023-10-20T15:52:57","modified_gmt":"2023-10-20T15:52:57","slug":"medical-startup-hotdoc-gets-a-healthy-cash-injection-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/medical-startup-hotdoc-gets-a-healthy-cash-injection-startupsmart\/","title":{"rendered":"Medical startup HotDoc gets a healthy cash injection – StartupSmart"},"content":{"rendered":"
\"\"<\/div>\n

Melbourne-based medical management startup HotDoc has raised $2.2 million from a series A funding round, with AirTree Ventures being the lead investor.<\/p>\n

 <\/p>\n

HotDoc aims to bring doctor-patient communications into the 21st<\/sup> century through its software tools that facilitate appointing booking and confirmations, return appointment notifications and help to reduce no-show rates for GPs.<\/p>\n

 <\/p>\n

The startup has signed up over 3500 GPs and secured multi-year contracts with corporate partners Sonic Healthcare, Healthscope and ZedMed.<\/p>\n

 <\/p>\n

HotDoc CEO Ben Hurst says the round values the startup at around $10 million.<\/p>\n

 <\/p>\n

\u201cWe\u2019re really rapt,\u201d Hurst says.<\/p>\n

 <\/p>\n

\u201cIt\u2019s not just the money; it\u2019s the expertise that AirTree offers. They\u2019re one of the few VCs in town that understand healthcare.\u201d<\/p>\n

 <\/p>\n

The cash injection will go towards scaling the business and developing new products, Hurst says.<\/p>\n

 <\/p>\n

\u201cIt\u2019s going to go towards growth,\u201d he says.<\/p>\n

 <\/p>\n

\u201cWe\u2019ve had very limited marketing just by the nature of bootstrapping it so far. This will allow us to get some bodies on the ground and have a stronger presence in the medical sector.\u201d<\/p>\n

 <\/p>\n

\u201cWe\u2019re pretty ambitious about future products and we\u2019re keen to go from the front office to the medical office. We plan to build products that allow patients to self-manage their health.\u201d<\/p>\n

 <\/p>\n

The HotDoc story<\/b><\/h2>\n

Hurst, who works in the medical field, founded the startup following his own personal experience in the industry.<\/p>\n

 <\/p>\n

\u201cBoth my parents are doctors and our dinner conversations often revolved around the entrenched issues they face every day, the bureaucracy and government intrusion,\u201d he says.<\/p>\n

 <\/p>\n

\u201cSo that sparked a desire to form a startup and try in my own small way to assist GPs and other doctors in providing good medicine.\u201d<\/p>\n

 <\/p>\n

HotDoc sets itself apart from its competitors due to focus on the doctor-patient relationship, rather than pitting medical offices against each other, Hurst says.<\/p>\n

 <\/p>\n

\u201cWe decided that instead of developing a large directory portal, we would try to create a much more practice-centric model,\u201d he says.<\/p>\n

 <\/p>\n

\u201cThe directory model puts convenience above everything else. We\u2019re putting the patient-doctor relationship above everything else.\u201d<\/p>\n

 <\/p>\n

Joining AirTree\u2019s portfolio<\/b><\/h2>\n

HotDoc marks AirTree\u2019s ninth startup investment, after funding online furniture marketplace Brosa last month<\/a>.<\/p>\n

 <\/p>\n

AirTree partner Daniel Petre says it was the HotDoc\u2019s place in the market that attracted him to it.<\/p>\n

 <\/p>\n

\u201cWe found that HotDoc had achieved the best traction in market with the least resources by eschewing the prevailing director model in favour of a model that deepens existing doctor-patient relationships,\u201d Petre says.<\/p>\n

 <\/p>\n

\u201cThe team is heavily technology focused and exciting product releases over the next 12 months will underpin a further acceleration in adoption.\u201d<\/p>\n

 <\/p>\n

Raising your<\/i> first round of capital<\/i><\/a>? Starting a<\/i> crowdfunding campaign<\/i><\/a>? Want to grow your business<\/i> with Instagram?<\/i><\/a> StartupSmart School can help.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Melbourne-based medical management startup HotDoc has raised $2.2 million from a series A funding round, with AirTree Ventures being the<\/p>\n","protected":false},"author":2,"featured_media":62780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,27,9,17,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47248"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=47248"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/62780"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}