Doctolib is now a unicorn with new $170 million round
French startup Doctolib has raised a new round of funding of $170 million (€150 million). The round is led by General Atlantic, with existing investors Accel, Eurazeo, Kernel and Bpifrance also participating. Some German healthcare entrepreneurs are also joining the round — the company isn’t detailing the names of those investors.
But Doctolib is detailing an important metric — its valuation. Based on this new round, Doctolib now has a post-money valuation of $1.13 billion (€1 billion). There’s a new unicorn in town.
Doctolib first started with a scheduling service for health practitioners. For €109 per month ($124), you can replace your calendar with Doctolib and let the startup take care of your week. Patients can book an appointment on Doctolib’s website and everything stays in sync between your own calendar and your public calendar.
More recently, Doctolib expanded to new countries and new types of practitioners. The company is now live in Germany and now also works with hospitals. Some hospitals have completely switched their scheduling system to Doctolib. Doctolib essentially became the leading cloud service for healthcare scheduling.
There are currently 75,000 practitioners and 1,400 healthcare facilities using Doctolib. The company works with 750 people and has offices in 40 different cities — it sounds like you need to have a local team in order to convince doctors in a specific area.
And now, the startup wants to expand to new services. In January, the company launched its telemedicine service. Existing Doctolib customers can now flip a switch and start accepting remote appointments.
This is a natural extension of Doctolib’s booking service. In addition to finding the right doctor and booking an appointment, you can now have a video consultation with a healthcare professional and get a digital prescription in your account.
Doctolib has focused on a limited feature set for years. But the company now has a shot at becoming a sort of Salesforce for the healthcare industry — a software-as-a-service company with a range of services to help practitioners switch from traditional software suites to browser-based applications.
For instance, Doctolib could expand beyond patient-to-doctor relationships and facilitate doctor-to-doctor collaboration as well.
With today’s funding round, the company will double the size of the team within the next three years across the board. In addition to sales people, the company will also double the size of the technology, product and design teams in order to launch new products. And finally, Doctolib will also expand to new countries.