Doctolib' European expansion fueled by another $42M

By Dave Muoio
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Paris, France-based Doctolib, an online medical appointment booking app and management software company, announced that it has raised approximately $41.6 million (35 million euros) in additional funding from BPI France and Eurazeo.

This round comes shortly after the startup raised roughly $28 million (26 million euros) in January from BPI France and others. Prior to this year’s funding — which the company says is the largest European health tech capital raise of 2017 — the bulk of Doctolib’s support came from a $20 million (18 million euros) investment round in 2015. Altogether, the Parisian platform has raised $100.9 million (85 million euros) since its founding in 2013.

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 as well, which they can use to to locate doctors or services while tracking their appointments. According to the company, more than 30,000 health professionals among 800 partner healthcare facilities are using Doctolib’s platform, with 12 million users visiting its French and German websites monthly.

Doctolib expanded its services from France into Germany in May 2016, and in January cited further expansion into Germany and the rest of Europe as its eventual goals. The startup said that it’s seen a faster rate of expansion within Germany than France, and currently has 1,000 healthcare professionals and 1.5 million patients using the platform within this second market.

The latest funding will continue to support these expansion efforts, as the company said that it now plans to hire 200 new employees and open an engineering center in Germany.

“With this record fundraising in 2017, Doctolib has the means to pursue its European ambitions,” Stanislas Niox-Chateua, president and cofounder of Doctolib, said in a statement. “In France, Doctolib has become a standard for both practitioners and patients. 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. Our objective is to become a standard service in Germany in the following months and to build the continent’s e-health leader by initially focusing on France and Germany.”

According to the statement, Doctolib also plans to simplify its software for daily professional use. The company is also looking to add additional features to improve patients’ access to consultation, and promote collaboration among healthcare professionals.

“The rapid growth of Doctolib in Germany has been a decisive factor in our choice to invest,” Yann-Hervé du Rusquec, managing director at Eurazeo, said in a statement. “In only one year, the company has been able to replicate its French success in Germany, and demonstrated its ability to export its business model. Doctolib now has everything it takes to capture the German market, invest in other countries, and become the leading e-health service that Europe needs.”