French Online Doctor Startup Raises Capital for German ExpansionBy
Doctor appointment booking startup eyes top spot in Europe
To hire 200 people in 2018 after second fundraiser this year
Doctor-appointment booking startup Doctolib SAS has raised 35 million euros ($42 million) in new funding as it seeks to become the biggest provider of scheduling software to health-care professionals in Europe.
Doctolib, which raised 26 million euros in January, is now valued over $200 million, according to a person close to the fund raising. Eurazeo SA, an investment firm listed in Paris, and French state-backed fund Bpifrance are among backers in the latest round, which brings the total raised to 85 million euros since the company was created four years ago.
The company centers around a doctor’s appointment booking app and related management software. With the bulk of its sales coming from France, Doctolib is eyeing Germany to sell more of its monthly packages priced at 109 euros each. It has signed up some 30,000 doctors, 1,000 of which are based in Germany. A total of 12 million users book and cancel appointments each month on its platform.
“With no equivalent to Doctolib in Germany in terms of size, service and product, we have the opportunity to become the leader in the market,” co-founder Stanislas Niox-Chateau said in a statement Tuesday. “Our objective is to become a standard service in Germany in the following months.”
Doctolib joins a clutch of health-orientated startups -- including Babylon Healthcare Services Ltd, Medopad Ltd. and BenevolentAI -- that have raised capital in a bid to expand. It follows a similar business model to U.S.-based Zocdoc Inc., which has stuck to the U.S., tapping the likes of Salesforce.com co-founder Marc Benioff, Jeff Bezos, Atomico and Goldman Sachs to raise $230 million in 10 years, and fetching a valuation of $1.8 billion.
Zocdoc charges doctors a yearly fee of $3,000 and has 6 million monthly users, Chief Executive Officer Oliver Kharraz said in an interview with Fortune in June. The company, which employs 600 people, doesn’t disclose user numbers on its website. It’s been refocusing business toward large health-care organizations.
Doctolib currently has 380 employees and plans to recruit an additional 200 people next year.