DocSpace raises $1.2m for digital health commerce platform
Digital health commerce platform DocSpace, which enables clinicians in starting, managing, and expanding tech-enabled private practices, has raised $1.2 million in seed funding led by early stage venture capital firm Slauson & Co.
The seed funding round also saw the participation of Precursor Ventures, SputnikATX Ventures, Acrew Capital’s Scout Fund, and Angel investors Nathan Baschez and Sonia Baschez, Eliana Murillo, and Nikhil Krishnan.
Nikhil Krishnan — founder of Out-Of-Pocket said: “Making it easier for clinicians to start new businesses is critical to decreasing clinician burnout, giving more choices to patients, and reducing the amount of administrative and overhead bloat in delivering health services.
“We should treat clinicians like entrepreneurs and reduce the barriers to them striking out on their own.”
DocSpace said that the proceeds will help the build out of DocSpace Pay, an integrated one-click checkout healthcare payments experience for both patients and clinicians.
Based in Houston, DocSpace provides a turn-key solution to help over 4.5 million therapists, physicians, dentists, and optometrists in automating their entire private practice formation process from end-to-end. The digital health commerce platform was co-founded in March 2020 by Dr. Mario Amaro — a physician and US Navy Veteran, and Miles Montes — an operator and expert in platform product management.
The HIPAA-compliant infrastructure of DocSpace is said to offer all that is required by a clinician to establish a new business, from digital health storefronts with personalized themes to back office management tools such as scheduling, banking, video conferencing, bookkeeping, and payroll.
Dr. Mario Amaro said: “Existing practice management software requires clinicians to manually self-navigate the expensive and complicated business formation process before they’re able to utilize any of their product services.
“When you require clinicians to do all the hard work of starting a new business then force them to purchase expensive software, it’s no surprise that fewer clinicians have the opportunity to build new businesses in their communities.”