Doximity, a professional network for physicians with telehealth and scheduling tools, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Doximity is an online platform for physicians that allows them to collaborate with colleagues, securely coordinate patient care, conduct virtual patients visits, read the latest medical news and research, and manage their careers. The company claims that it is the leading digital platform for US medical professionals, with over 1.8 million members as of March 31, 2021, representing more than 80% of physicians across the country.
The San Francisco, CA-based company was founded in 2010 and booked $207 million in sales for the 12 months ended March 31, 2021. It plans to list under the symbol DOCS, but has yet to select an exchange. Doximity filed confidentially on March 5, 2021. Morgan Stanley, Goldman Sachs, J.P. Morgan, Piper Sandler, William Blair, Canaccord Genuity, Needham & Co., Raymond James, and SVB Leerink are the joint bookrunners on the deal. No pricing terms were disclosed.
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