DocSpace Raises $1.2 Million To Help Clinicians Build and Launch Independent Practices
DocSpace, a digital health commerce platform that helps clinicians start, manage, and grow tech-enabled private practices, announced $1.2 million in seed funding led by Slauson & Co. The round includes other notable investors Precursor Ventures, Acrew Capital’s Scout Fund, SputnikATX Ventures, and Angel investors Nathan and Sonia Baschez, Nikhil Krishnan, and Eliana Murillo. The seed funding will support the build out of DocSpace Pay, an integrated one-click checkout healthcare payments experience for patients and clinicians.
DocSpace offers a turn-key solution to help more than 4.5 million therapists, dentists, physicians, and optometrists automate their entire private practice formation process from end-to-end. DocSpace’s HIPAA-compliant infrastructure provides everything a clinician needs to form a new business, from digital health storefronts with custom themes to back office management tools like scheduling, video conferencing, banking, payroll, and bookkeeping.
DocSpace was co-founded by CEO Dr. Mario Amaro, a physician and U.S. Navy Veteran who served in both Operation Iraqi Freedom and Operation Enduring Freedom, and CPO Miles Montes, a seasoned operator and expert in platform product management, previously at ADP and ShopLatinx. Since launching in March 2020, DocSpace has helped hundreds of clinicians build and launch their practices from the ground up.
“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,” said Dr. Mario Amaro. “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.”
Dr. Amaro continued, “This is why we were inspired by Shopify’s business model and the infrastructure they created to empower retail merchants to be small business owners. We are building the first clinical practice operating system that provides clinician entrepreneurs the opportunity to seek practice independence, helping them get to market faster, while leveling the playing field so they can compete against large hospital systems and other VC-backed healthcare startups.”
“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,” said Nikhil Krishnan, the founder of Out-Of-Pocket and advisor/investor to DocSpace.