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QuantiaMD raises $12M to expand client base

Tue, 10/30/2012 - 12:00am
Mass High Tech: The Journal of New England Technology

Waltham's QuantiaMD, an online physician community with 160,000 physicians, said Tuesday it's raised a $12 million round aimed at expanding the site's client base.

The platform is used both for practicing physicians to collaborate and for health plans and hospitals to communicate with physicians. QuantiaMD said it's looking to expand the site's usage by health plans, hospitals and pharmaceutical companies.

The site, which has more than 25 percent of practicing physicians as active members, is used by physicians for an average of 45 minutes per week, the company said. Physicians use the site to share experiences from clinical practice in real-time, "allowing them to adapt to changes faster and apply the latest medical thinking to their practices," QuantiaMD said.

The site replaces the homegrown portals, fax and mail that health plans and hospitals use to communicate with physicians, CEO Eric Schultz said in the funding announcement.

The funding was led by returning investor Fuse Capital of Menlo Park, Calif.

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