Halifax-based social network for medical professionals The Rounds has closed two follow-on investments to a prior Series A funding round, bringing the company's total capital raised since its founding in 2012 to around $9.4 million.

The latest tranche of funding saw Atlanta-based Panoramic Ventures, which led the Series A, and Invest Nova Scotia both re-up their stakes, investing a combined $1.6 million and bringing the total value of the funding round to $6.7 million. Invest Nova Scotia previously bought in when it was Innovacorp.

"We are thrilled to have the continued support of both Panoramic Ventures and Invest Nova Scotia as we move forward with our mission to modernize the way healthcare professionals connect and collaborate," said CEO Tim Rice in a statement. "The new funds will help us make our platform more accessible and provide even more value to our users.”

The Rounds’ revenue model is subscription-based, with options for both institutions and individual doctors. Unlike most private Facebook groups and other social media communities, The Rounds has a rigorous vetting process for prospective members.

Last fall, the company was one of six startups to participate in the SoCal Tech Highway accelerator, which was created by the Consulate General of Canada in Los Angeles to foster collaboration between Canadian and American early-stage companies.

Then the team joined Scale-up Hub Atlanta, which encourages Atlantic Canadian entrepreneurs to commit to spending extended periods in Georgia with the aim of gaining clients and developing a network.

The original close of the Series A round happened in September. Rice said in an interview at the time that the raise had been facilitated by a surge in user growth that started around 2018 and accelerated during the pandemic.

The company has a goal of reaching 50 employees by August of 2023. In September it had 28.

Historically, The Rounds’ largest market has been Canada, but more recently, COVID-19 and the two American startup programs the company joined have helped it gain a foothold south of the border. In particular, the platform has proven popular with specialist doctors like neurologists and dermatologists looking to have narrow, highly technical conversations.