Doctolib, an online booking app and management software for doctors in Europe, has raised €26 million ($28 million) in a series C round led by French public investment bank Bpifrance, with participation from existing investors Accel, PriceMinister cofounder Pierre Kosciusko-Morizet, and BlaBlaCar cofounder Nicolas Brusson.
Founded out of Paris in 2013, Doctolib offers a range of software services to enable doctors to manage bookings and communicate with patients online. The subscription-based model caters to a range of medical clients, from single-GP practices to entire hospitals, while it also serves to help patients find nearby doctors, make bookings, and track appointments around the clock.
The company says it has 300 employees across 35 cities in France and Germany. Prior to now, the company had raised around $26 million in funding, the last tranche arriving via a $20.5 million round back in 2015, and it says it will use its newfound wealth to “consolidate the platform’s leadership position in France and Germany,” as well as push to grow across Europe in the longer term. It currently plans to recruit 150 new employees throughout 2017.
“Behind the success of Doctolib lies a profound need to improve the care path of patients and the working conditions of healthcare professionals,” said Doctolib CEO Stanislas Niox-Chateau. “This funding will help us pursue our mission to provide the best daily for doctors and patients.”
An obvious competitor in the space is New York-based ZocDoc, which has raised more than $220 million, including a $130 million tranche in 2015 that valued the company at $1.8 billion. ZocDoc mainly operates in the U.S., however, and Doctolib hasn’t given any indication that it plans to enter the U.S. market in the foreseeable future.
Elsewhere in Europe, a number of doctor-booking services have cropped up in recent times. Luxembourg-based Doctena recently acquired German rival Doxter, while Poland’s DocPlanner closed a $20 million round last summer, taking its total funding to $34 million. So while there is consolidation and VC funding happening, Doctolib is setting out to become the number one brand across the continent.
“We continue to be impressed by the momentum of Doctolib in France and Germany and we’re delighted to continue to support their ambition to transform healthcare in Europe,” added Accel partner Philippe Botteri.