This article was published on April 18, 2025, at 5:20 p.m. on the ChosunBiz MoneyMove site.
Dr. Now, an operator of a non-face-to-face medical treatment platform, has completed its reorganization and is seeking new investments for the first time in three years. At the end of last year, the founder and CEO Jang Ji-ho left the company due to military service, and Dr. Now transitioned to a leadership system under CEO Jeong Jin-ung, who is from a global investment bank.
According to the venture capital industry on the 18th, Dr. Now is pursuing a Series C funding round. It is currently scheduling investment briefings (IR) with officials from domestic and foreign venture capital firms, including existing investors. It is known that this is still in the early stages, and the size of the funding and valuation remain undecided. However, it has been reported that the funding will be conducted at a level similar to or slightly higher than the previous funding amount of 40 billion won.
Dr. Now raised 10 billion won in Series A funding for the first time since its establishment in 2021. At the time, SoftBank Ventures (now SBVA), Saehan Venture Investment, Hashed, and Krit Ventures participated as investors. In the Series B round that followed a year later, existing investors were joined by N Partners, Goodwater Capital, and Smart Study Ventures. The post-valuation (value after investment) was estimated to be around 200 billion won.
This investment round is taking place three years after the Series B round. The need for funding has increased as the regulatory sandbox for non-face-to-face medical services was lifted last year. It is expected that the funds raised this time will be used to expand infrastructure so that patients visiting pharmacies can receive prescription medications immediately.
An industry source noted, “As the gap due to the medical strike last year prolonged, non-face-to-face treatment has been temporarily but fully allowed,” adding, “Funds will be needed for drug delivery and direct distribution services.”
Funding for Dr. Now is expected to be led by CEO Jeong. Jeong, who is a former Morgan Stanley employee, is recognized as an expert who advised on the sale of Delivery Hero's delivery platform Yogiyo, the sale of CJ Logistics’ Chinese subsidiary CJ Locus, and led a 400 billion won investment round for media production company JTBC Studio (now SLL Jungang).
There were expectations for additional funding since CEO Jeong joined Dr. Now as the Chief Strategy Officer (CSO) in October 2022. However, conflicts with pharmacists regarding non-face-to-face services have hindered progress since the decline of the COVID-19 pandemic. Nevertheless, it is analyzed that the allowance of non-face-to-face medical treatment has alleviated some burdens, leading to the progression of additional investments.
In addition to non-face-to-face medical services, Dr. Now has built its business model with services such as a subscription for customized nutritional supplements, finding pharmacies, making hospital appointment reservations, and real-time medical consultations. Last year, it established a pharmaceutical wholesale subsidiary, Bijin Pharmaceuticals, to directly supply medications to partner pharmacies.
An industry source stated, “Dr. Now has been steadily growing, recently recording the highest cumulative treatment cases excluding COVID-19,” explaining, “As the proportion of illnesses like colds and viral infections increases, non-face-to-face medical treatment is becoming established, especially among patients with mild and chronic conditions.”