The Rounds Closes Series A Funding for Healthcare Professional Network
Tuesday, February 7, 2023
The Rounds, a Canadian healthcare technology start-up, has successfully closed its Series A round. Follow-on investments totaling $1.6 million from Panoramic Ventures, an Atlanta-based venture capital firm, and Invest Nova Scotia bring the round total to $6.7 million.
The Rounds' flagship product – therounds.com – is a free gated network that lets physicians and other licensed healthcare professionals connect and collaborate on medical topics with their peers across North America.
The new funding will be used to continue the development of the platform and provide users with a secure, seamless and intuitive experience.
"We are thrilled to have the continued support of both Panoramic Ventures and Invest Nova Scotia as we move forward with our mission to modernize the way healthcare professionals connect and collaborate," said Tim Rice, CEO of The Rounds. "The new funds will help us make our platform more accessible and provide even more value to our users."
The Rounds’ platform helps healthcare professionals collaborate in highly specialized Communities of Practice (CoPs). Medical associations and multinational pharmaceutical companies leverage The Rounds as a third-party intermediary to ensure medical advances and new therapeutic options are at the fingertips of verified licensed medical professionals.
"We continue to be impressed with the rapid adoption of The Rounds platform as the go-to platform for healthcare professional collaboration, engagement and knowledge sharing in North America,” said Austin Poole, a partner at Panoramic Ventures. “We're thrilled to continue to support the team's mission to improve global healthcare outcomes."
“Our team at Invest Nova Scotia is proud to be a long-time supporter of, and investor in, The Rounds. The Series A fundraise will help replicate the company's success in Canada across key healthcare markets in the U.S. There has never been a better time to break down the geographic barriers stifling collaboration in specialty healthcare, and The Rounds is doing just that," said Ben McDade, investment principal at Invest Nova Scotia.
Since its founding in 2012, The Rounds has forged relationships with national governing bodies such as the Pharmaceutical Advertising Advisory Board (PAAB) and Innovative Medicines Canada (IMC). The company has established the largest database of active verified healthcare professionals in Canada through rigorous verification and authentication processes.