For years, software developers and tech companies have attempted to create applications and social media platforms that could benefit the health industry. After all, the health industry accumulates billions per year. There is of course an ethical component as well as software and emerging technologies can add a lot of benefit to various health fields. Figure 1, also known as the Instagram for doctors, is a software developed purely for doctors and other medical professionals. In short, Figure 1 helps members share unique treatments, see rare conditions and elaborate on different cases. Figure 1 is essentially a social media developed primarily for health care professionals.
Founded by Gregory Levey, Figure 1 has attracted international attention and significant investment. Recently, the software has received another $10 million worth of investments from multiple companies and private firms. Kensington Capital Partners made the first round of investment. Samsung NEXT and John Hancock insurance group were among other notable investors. This latest round of investments raises Figure 1’s worth to $20 million in total. This is an impressive amount for a small startup that is only four years in the making. Based in Toronto, Figure 1 only has 50 employees as of 2017.
While only medical professionals such as doctors can make posts and changes to the apps contents, anybody can sign up to use the service. Figure 1 intends to keep the service under strict monitoring to ensure that it can be continued to use for purely scientific and professional use. Two-thirds of the user base is located in the United States with Latin America being the second largest demographic. However, there are users around the world attracted to Figure 1 for its unique combination of professional content and social media functioning. These latest investments totaling $10 million will help Figure 1 continue development and production for the future. These forms of professional applications could bring a new wave of technology into the medical field.