DXY Valuation, Funding & Investors

DXY is valued at $1B as of April 2018.

See full DXY profile

Last DXY valuation

$1B

Series D · Apr 2018

Last DXY funding round

$500M

Series E · Dec 2020

Cumulative funding DXY raised

$670M

across 3 funding rounds

Key investors in DXY

  • Tencent
  • Trustbridge Partners
  • GL Ventures LLC

DXY Overview

About DXY

DXY is an online platform connecting doctors, patients, and healthcare organizations in China via specialized social media for pharmaceuticals and life sciences. Hangzhou-headquartered since 2000, it provides communication tools, public health services, and precision marketing. Backed by Tencent, Hillhouse Capital, and Legend Capital, DXY enhances medical collaboration and productivity.


Founded

2000

HQ

ChinaHangzhou

Website

dxy.cn

Status

Privately held

Customer focus

B2B & B2C

Revenue model

Advertising

Valuation

$1B (Apr 2018)

DXY Valuation

DXY is currently valued at $1B, based on its Series D in April 2018.

DXY valuation by funding round

DXY valuation by funding round
DateStageValuation
Apr 2018Series D$1B

DXY Funding History

DXY has raised a total of $670M across 3 funding rounds.

DXY's first fundraising round was a $70M Series C in September 2014. The most recent completed round was a $500M Series E in December 2020.

DXY funding rounds

DXY funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2020Series ETrustbridge Partners (lead); GL Ventures LLC; Tencent$500M-DXY (dxy.cn) is a Chinese healthcare community platform and health-tech company. It completed a Series E funding round on December 28, 2020, raising $500 million led by Trustbridge Partners, with participation from Tencent and Hillhouse Capital Management. The company has raised a total of $672 million across five rounds, with prior investors including DCM Ventures and Shunwei Capital. DXY operates as a professional network for healthcare professionals in China. The round aligns with surging VC funding in Chinese health-tech, positioning DXY among significant investments in the sector.
Apr 2018Series D-$100M$1B-
Sep 2014Series CTencent (lead)$70M-DXY (Ding Xiang Yuan or Ting Ting Group), founded in 2000 and based in Hangzhou, China, operates an online platform connecting hospitals, physicians, medical researchers, patients, pharmaceutical companies, and insurance providers for medical information sharing, data management, and services. It started as a pharmacopoeia for doctors and healthcare companies and expanded into consumer healthcare with products like Family Medicine App and DXY Doctor. By 2014, DXY claimed over 4 million registered members globally and a network of more than 2 million professional doctors, positioning it as China's largest online healthcare service community. In September 2014, specifically on September 2, DXY announced it would receive $70 million in a Series C equity funding round from Tencent Holdings Ltd., marking the largest investment in China's internet healthcare sector at the time. Tencent received a minority equity stake on a fully diluted and as-converted basis, with DXY's founding management team retaining majority ownership and board control. New board members included David Feng from DXY and Richard Peng from Tencent. This followed prior rounds: $2 million Series A from DCM in January 2010 and about $10 million Series B led by Shunwei Capital with DCM in December 2012. The investment aimed to integrate DXY's services into Tencent platforms like WeChat and Mobile QQ, enhancing access to doctors and medical knowledge for tens of millions of users. DXY planned to use funds for healthcare products targeting doctors, pharmaceutical companies, and consumers across WeChat-based, mobile app, and web categories, including a platform for private practice doctors to decentralize medical resources from big hospitals. It also focused on reliable information amid fake medical content issues, big data for HR solutions, and compliant doctor-pharma communication. Tencent's involvement tapped China's red-hot healthcare market, competing with players like Chunyu ($50M Series C) and others. DXY later raised larger rounds, including $500M Series E in 2021 led by Trustbridge with Tencent and GL Ventures (Hillhouse), to bolster its medical professional network and new offerings.

Who has invested in DXY?

3 investors have backed DXY across its funding rounds, including Tencent, Trustbridge Partners and GL Ventures LLC.

Lead investors include Trustbridge Partners and Tencent.


DXY Investors

Investors in DXY by funding rounds participated
InvestorHQRoundsRoleFirst check
TencentChinaShenzhen2LeadSep 2014

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DXY Competitors

DXY competitors include listed companies like Certara and SOPHiA Genetics, and private ones like Evidation Health, Truveta, MedGenome and OM1.

Public and private companies comparable to DXY
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Evidation HealthUnited StatesSan Francisco, CAPrivate--$1B-
TruvetaUnited StatesSeattle, WAPrivate--$1B-
MedGenomeIndiaBangalorePrivate--$950M-
OM1United StatesBoston, MAPrivate--$836M-
CertaraUnited StatesUnited StatesPublicly listed$419M$103M$1.3B3.6x
SOPHiA GeneticsSwitzerlandSwitzerlandPublicly listed$77M($65M)$726M7.5x

DXY Public Comps

DXY is still privately-owned, but its public comps include Taboola, Shanghai Ganglian, USA TODAY, Trustpilot Group, Omada Health, Inmyshow Digital, SOPHiA Genetics, New Guomai Digital, Alma Media and Better Collective.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Taboola$1.9B$121M0.5x0.5x8.4x4.5x
Shanghai Ganglian$11B$75M0.0x-4.9x-
USA TODAY$2.3B$262M0.8x0.9x7.5x7.2x
Trustpilot Group$261M$27M4.3x3.8x42.0x22.6x
Omada Health$260M($10M)3.8x3.1x(98.6x)48.5x
Inmyshow Digital$582M$22M2.0x1.9x54.7x-
SOPHiA Genetics$77M($65M)8.8x7.5x(10.4x)(18.8x)
New Guomai Digital$271M$8M4.0x-131.5x-

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Common questions about DXY

When was DXY founded?DXY was founded in 2000.
Where is DXY headquartered?DXY is headquartered in Hangzhou, China.
Is DXY publicly listed?No, DXY is a private, VC-backed company.
What is DXY's valuation?DXY was last valued at $1B in its Series D in April 2018.
How much funding has DXY raised?DXY has raised $670M across 3 funding rounds.
What was DXY's last funding round?DXY's last funding round was a $500M Series E in December 2020, led by Trustbridge Partners.
Who are DXY's investors?DXY's investors include Tencent, Trustbridge Partners and GL Ventures LLC.
Which companies are comparable to DXY?Companies comparable to DXY include Evidation Health, Truveta, MedGenome, OM1, Certara and SOPHiA Genetics.

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