DocGo’s Merger with Motion Acquisition Corp. Raises $158m of Funding

September 1, 2022

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DocGo’s merger with Motion Acquisition Corp raised $158m of funding, which gives the company an implied equity value of $1.1bn. This is an interesting development within the mobile health services industry, and it will be interesting to see how this affects DOCGO($NASDAQ:DCGO)’s market and earnings in the long term.

Market Price

DocGo Inc announced on Wednesday that it has merged with Motion Acquisition Corp, a move that is expected to raise $158 million in funding for the company. This is good news for DocGo shareholders, as the stock opened at $10.5 and closed at $10.2 on the news. The merger is also a positive development for the company, as it will give DocGo access to Motion’s extensive network of doctors and hospitals.

VI Analysis

According to the VI app, DOCGO INC.’s fundamentals reflect its long-term potential. The company is strong in asset growth and profitability, but weak in dividend growth. However, DOCGO INC. has a high health score of 7/10 with regard to its cashflows and debt, which indicates that it is capable of paying off debt and funding future operations. Therefore, DOCGO INC. is classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. High growth companies are generally deemed more risky as they attempt to grow faster than their competitors.

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DocGo Inc has raised $158 million through a merger with Motion Acquisition Corp, a move that will help the company expand its reach in the online document management space. The deal, which was announced today, will see DocGo become a publicly traded company on the Nasdaq stock exchange. The funding will be used to help DocGo accelerate its growth strategy, which includes expanding its sales and marketing efforts, as well as investing in new product development. The company plans to use the funds to also build out its team, with a focus on adding more engineers and product managers. With the new infusion of cash, the company is well-positioned to continue its rapid expansion and cement its position as a leading player in the online document management space.

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