Sermo is a Cambridge, MA-based online physician community founded in 2005 by CEO Daniel Palestrant. The company operates a platform that allows clients to aggregate information, tap into peer-to-peer insight, gain market intelligence and increase brand awareness. Sermo has developed research platforms that enable clients to conduct real-time qualitative and quantitative research. It currently services over 300 clients, including pharmaceutical companies, healthcare institutions, financial services firms and government agencies. The company recently secured a $5M debt facility and intends to use the proceeds to continue expanding its physician community. Sermo operates an invitation‑only social network whose membership is comprised primarily of licensed physicians and which validates physician credentials. The platform gives physicians access to clinical information and lets them earn money by writing or voting for postings; the company says physician opinions on the site do not constitute malpractice. Sermo recently partnered with Pfizer to provide physicians easier access to Pfizer’s clinical information. The company is based in Cambridge, Mass., and has about 26,000 licensed physicians participating. Sermo raised $27 million in a Series C funding round last month and has to date raised $39.5 million; it will use the funding to hire more employees and increase website capacity, planning to add 25–50 employees in 2008. The U.S. FDA Center for Devices and Radiological Health also has access to the social network.

Total raised

$31M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Feb 2011