French appointment booking and telemedicine service Doctolib has raised another €150 million ($170.3 million), bringing its total funding to around €235 million ($271 million) and its valuation to more than €1 billion.
General Atlantic, a global growth equity fund, led the round. Existing investors Eurazeo, Bpifrance, Kernel and Accel also contributed, along with unnamed German healthcare entrepreneurs.
WHAT THEY DO
Doctolib offers its subscription-based SaaS platform to medical practices, allowing doctors to manage their appointment bookings and communicate with patients. The company also offers its services to patients, which they can use to to locate doctors or services while tracking their appointments
According to a press release, the fast-growing company, which last year acquired competitor MonDocteur, conducts 30 million online visits a month. Doctolib currently has 750 employees and offices in 40 cities in France and Germany.
WHAT IT'S FOR
The company plans to use the funds to accelerate growth in France and Germany (it plans to double the size of its team over the next three years) as well as push into other international markets. Additionally, it will use funds for product development and to promote its telehealth offering, which just launched last month.
MARKET SNAPSHOT
Doctolib is one of the largest players looking to corner the market on telemedicine in the EU, but it faces plenty of competition from within and without. Locally, Munich-based TeleClinic raised just under $8 million last fall.
But Swedish digital health platform Kry has also expressed an intention to expand into France. And just yesterday USA telehealth giant Teladoc Health purchased French company MédicinDirect, giving the company a strong foothold in the region.
ON THE RECORD
“Our missions have been the same since day one: making our healthcare system more human, efficient and connected and building a company of several thousand people sharing humanist values,” Stanislas Niox-Chateau, Doctolib cofounder and CEO, said in a statement. “We believe that physicians are at the heart of the healthcare transformation: Doctolib team has the mission to create the best services possible with them.”
