With a new investment, a local healthcare-focused online marketing platform has its eyes on expansion.
Plano-based DoctorLogic, which develops custom websites for healthcare providers, announced landing a $7 million Series A funding round led by Austin-based private investment firm Unbundled Capital. And with the new funding, DoctorLogic is looking to “aggressively expand” its sales and marketing efforts, along with broadening its product development.
The startup closed on its seed round in October 2013.
“Our ultimate goal is to get our software into the hands of every medical practitioner in the addressable marketplace, and this investment will help us execute our vision even more rapidly and broadly,” said Stuart Lloyd, co-founder and CEO of DoctorLogic, in a prepared statement.
DoctorLogic was founded in 2015 by Lloyd and fellow co-founder Ray Myers. The company’s software solution enables an all-in-on marketing platform aimed at helping healthcare providers develop an online presence, acquire new patients and track the effectiveness of their marketing investments.
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The software also provides turn-key solutions for social media, Google Ads, blog services and video production, among other things.
According to the Dallas Business Journal, DoctorLogic works with more than 330 medical practices in the fields of aesthetics, dentistry and surgery. The company recently expanded its offerings to ophthalmology and orthopedics. According to a press release, the company has helped its customers acquire more than 100 million new website visitors.
“Agency-led solutions aren't cutting it anymore. Competition among practitioners for incremental growth is higher than ever, and the only way to get and stay on top of these demands is to move to a purpose-built software platform,” Lloyd said in a prepared statement.
Last year, DoctorLogic was ranked No. 1285 on the Inc. 5000 list. According to the report, DoctorLogic has 44 employees. The company has seen 320% growth over a three-year period and did nearly $6 million in revenue in 2018. It was also awarded Gold for Best Website Visual Appeal and Silver for Website Branding by Davey's Awards on behalf of the Academy of Interactive & Visual Arts
“As an industry we're just scratching the surface of how powerful healthcare digital marketing can be,” said DoctorLogic President, Kip Young in a prepared statement. “This investment will be used to continue scaling our people and systems to achieve our goal of building a great company in an exciting category.”
