July 16, 2024

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HealthTech Specialist Doctolib Raises $550M

Paris-based Doctolib, an online booking management software provider for European physicians, has secured 500 million euros ($550 million) in funding which brings the value of the company to 5.8 billion euros ($6.4 billion), PitchBook.com reported Tuesday (March 15).

The latest funding will be used to create 3,500 jobs by 2027, which would bring its workforce to 6,000 employees, the company said.

In addition, Doctolib said it plans to expand beyond appointment booking and introduce an instant messaging service for the healthcare community and a platform to consolidate medical documents. The startup said it will also strengthen its data security.

Doctolib’s platform provides management software for practitioners to manage patients and their appointments and an online service for patients to facilitate access to care, enabling health professionals and users to manage and streamline access to healthcare services.

The company said it works with 65,000 health practitioners in 1,300 health facilities. About 25 million patients visit Doctolib website and its mobile app every month, the company said.

Eurazeo led the financing round. It also included existing backers Bpifrance and General Atlantic, reports said.

Last fall, PYMTS reported Doctolib expanded into Italy.

Also read: Digital Health Startups Making Major Moves Across the UK, Europe and Africa

After France and Germany, the French company recently acquired its Italian equivalent, Dottori, to mark the firm’s entry into its latest market in Europe. The company also announced plans to invest 250 million euros into improving its software in the Italian market, build a new Tech Center in Milan and hire 500 people locally.

In 2019, the startup raised 150 million euros ($170 million) in a round that tipped its value to 1 billion euros ($1.1) billion. That put it in unicorn territory, the term used in the venture capital industry to describe a privately held startup company with a value of more than $1 billion.

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