The Rounds, the Halifax-based company that developed a social network for medical professionals, has exited after being acquired by Native Touch, a Toronto digital advertising firm.

In an interview, CEO Tim Rice said that The Rounds – whose corporate name is Boondoc Technologies Inc. – was sold in May to Native Touch, which owns a portfolio of companies that have synergies with the Halifax company’s network.

The parties did not release the financial details of the transaction. What Rice did stress is that the eight-member team is remaining in Halifax and growing, with a few openings currently posted. 

“One really important aspect is we're still going to be an Atlantic-based company, with headquarters here in Halifax,” said Rice, who said he will remain with the company. “We continue to plan to grow the team within the Atlantic provinces, which is a really exciting aspect of this transaction.”

Co-Founders Blair Ryan, Will Harris and Michael Clory started the company in 2012 with the belief that physicians and other medical practitioners commonly encounter problems in treating patients that they simply don’t know the answers to. They decided that doctors could find solutions by canvassing a broad range of their peers, some of whom may have encountered similar problems.

The team developed a secure, closed network that verified medical professionals could join free. The company monetized the network by selling sponsorships to corporations that wanted to reach the medical community, and this is the part of the business that has found synergies with Native Touch.

The company experienced a surge of growth during the pandemic and today operates largely in Canada with strength in a few specific segments of medical practices, said Rice. The areas of strength are family physicians, general practitioners, nurses, and pharmacy. Areas that The Rounds has branched into more recently include dermatology, gastroenterology, rheumatology, infectious diseases, neurology, and pediatrics.

“The newest one that we're just launching right now, which is really exciting, is . . . a new community for optometry,” said Rice. “And we anticipate that that will be our fastest-growing community over the next six to 12 months.”

About a year ago, the company and its board began to consider growth through a corporate transaction, whether by acquiring or merging with another company, or being acquired. They eventually settled on Native Touch, which specializes in mobile-first and omnichannel programmatic advertising.

The Rounds last raised capital in 2023, when it completed its Series A round, which came in at a total of $6.7 million. Atlanta-based Panoramic Ventures and Invest Nova Scotia were major contributors to that and previous rounds. East Valley Ventures also invested in the company over the years.

During the interview, Rice heaped special praise on his team, which grew the business during the uncertainty of the pandemic and dealt well with the stresses of being taken over.

“This team was super-resilient,” said Rice. “Going through an acquisition takes a toll on everyone just because there's so much work that goes behind it and a lot of stress. The team handled it so professionally and made it much easier for me to manage.”