Highlight provides Series A for China’s eDoctor
Highlight Capital has led a Series A round of funding for eDoctor Healthcare Communications, a Chinese start-up specializing in pharmaceutical marketing solutions.
Financial details weren't disclosed but local media reported the round is worth tens of millions of dollars.
Founded in 2004, eDocotr has developed software and other pharmaceutical marketing and promotion technology solutions that educate and inform patients and healthcare professionals about new treatments. For example, its online video platform provides cancer treatment courses for doctors while its sales software manages patients' records in a digital format.
Based in Shanghai and Beijing, the company claims to generate more than RMB100 million ($16 million) in revenue. The new funding will be used to develop its medical education and digital advertising businesses.
Healthcare specialist Highlight Capital was co-founded by Steven Wang, a partner at CDH Venture, and Jason Zhao, previously a healthcare specialist at SoftBank China Venture Capital. The firm closed two vehicles last September - a $200 million US dollar-denominated fund and RMB1 billion renminbi fund.
Sequoia Capital is an LP in the offshore vehicle, alongside family offices and fund-of-funds. Chinese entrepreneurs and corporates contributed capital to the local currency vehicle.
Highlight's focus stretches from mobile health technology to traditional drug manufacturers. In September, it participated in a $40 million Series B round for Quyiyuan.com, a Shanghai-based medical consultation and service-booking mobile app. Prior to that, it invested in Quyiyuan's parent company Shanghai KingYee.
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