Reston, VA – February 16th, 2011 – MMV Financial (MMV), a preeminent specialty finance firm serving venture-backed companies in North America, announced today that it has extended $3.5 million in growth capital financing to Sermo, the largest online physician community in the U.S. The financing, part of a larger $5 million facility for Sermo, will allow the company to continue expanding its physician community while serving a growing roster of over 300 clients.
“Sermo has pioneered a business model where a vibrant physician community is accessible to our clients,” said Daniel Palestrant, Sermo CEO & Founder. “Today, one in five US physicians is a member of Sermo with thousands of physicians a week using the community to communicate with other physicians across the country, improving patient care and healthcare efficiency. Our clients can engage that community for market research, crowd sourcing or promotion. The access to additional capital that MMV has provided will allow us to build on a successful business model that continues to deliver value to both our physicians and clients.”
Founded in 2005, Sermo is an ideal resource for any organization in need of dependable physician feedback. The company’s platform allows clients to aggregate information, tap into peer-to-peer insight, gain market intelligence and increase brand awareness. In addition to the Sermo Client Center, which acts as a lens into the Sermo community about specific therapies, devices and treatment options, the company has developed a number of research platforms that allow clients to conduct real-time qualitative and quantitative research. Sermo counts 13 of the top 15 pharmaceutical companies among its customers as well as leading healthcare institutions, financial services firms and government agencies. These companies rely on the insights of the Sermo user base to gather valuable market data and research.
“MMV is thrilled to be partnering with Sermo as they continue to build the premier physician network for practicing physicians in the U.S.,” said April Young, Senior Vice President and Managing Director US, MMV Financial. “We support the Sermo management team’s long-term vision and ability to add value to both the medical community and the drug development community.”
Sermo is the largest online physician community, where over 117,000 practicing physicians discuss a wide range of issues from clinical cases to advice about drugs and practice management. By leveraging Sermo’s social media platform, clients can tap into unsolicited, peer-to-peer dialog and engage MDs to gain market intelligence and increase brand awareness. For more information, visit www.sermo.com
About MMV Financial
MMV Financial empowers growth for venture-backed technology and life sciences companies across North America through creative debt solutions. We provide quick and efficient access to additional capital with limited dilution. Our goal is to help companies achieve valuation inflection points, liquidity events and/or operational cash flow breakeven with flexible, cost-effective financing. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including Wells Fargo Company, HSBC Bank Canada, Caisse de dépôt et placement du Québec, CCP Equity Partners, Fonds de Solidarité des Travailleurs du Québec and ROI Capital. For more information, please visit www.mmvf.com
Senior Vice President& Managing Director US
Director - Communications