The Rounds Closes $6.7M Series A with $1.6M in Follow-On Funding
FOR IMMEDIATE RELEASE
THE ROUNDS CLOSES $6.7M SERIES A
Invest Nova Scotia Joins Round: Existing Investor Doubles Down on Physician Network
HALIFAX, NS, February 7, 2023 – The Rounds, a Canadian healthcare tech startup, announced today the successful close of its Series A round with two follow-on investments totalling $1.6 million CAD from Panoramic Ventures, an Atlanta-based venture capital firm, and Invest Nova Scotia.
This brings the company’s total Series A round to $6.7 million CAD. The Rounds’ flagship product – therounds.com – is a free gated network designed to connect and collaborate with licensed healthcare professionals 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’ trusted platform helps physicians and healthcare professionals collaborate in highly specialized Communities of Practice (CoPs) where they can discuss medical topics with peers. 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.
Panoramic Ventures Partner Austin Poole noted why the company made additional investments, “We continue to be impressed with the rapid adoption of The Rounds platform as the go-to platform for HCP collaboration, engagement, and knowledge sharing in North America. We’re thrilled to continue to support the team’s mission to improve global healthcare outcomes.”
Ben McDade from Invest Nova Scotia further commented on why they decided to invest: “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 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.”
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 Rounds has established the largest database of active verified healthcare professionals in Canada through stringent verification and authentication processes.
About Panoramic Ventures:
Panoramic Ventures is a venture capital firm based in Atlanta that partners with extraordinary founders to build category-leading companies. Panoramic invests in B2B software and tech-enabled service businesses at all stages of maturity, from pre-seed and seed to growth and scale, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.
About Invest Nova Scotia:
Invest Nova Scotia offers programs, services, advice, and other resources Nova Scotia companies need to grow. Start-ups are a key focus area for us, and we support them through venture capital, incubation facilities, expert advice, and other acceleration initiatives. We’re especially interested in deep technology start-ups, which are those based on scientific discovery, new engineering innovation, or IT that is not focused on end-user services.
About The Rounds:
The Rounds is Canada’s leading collaboration network for physicians and healthcare professionals. Founded in 2012, The Rounds modernizes how physicians and healthcare professionals access and share information because sharing knowledge saves lives. https://therounds.com/