ZocDoc is looking to raise $152M at $1.6B valuation

By Aditi Pai
07:25 am

ZocDocDoctor appointment booking platform ZocDoc is working on raising an additional $152 million, which market research firm VC Experts valued at $1.6 billion, according to a report from Fortune. ZocDoc has raised at least $95 million to date.

Former ZocDoc investors include DST Global and Goldman Sachs. Fortune reported that DST Global may also be contributing to this larger round.

Citing details found in ZocDoc's Sixth Amended and Restated Certificate of Incorporation, VC Experts reported that the company aims to sell its next slate of shares at $28.22 per share, for a total $152.57 million. In ZocDoc's last funding raise, the company sold its shares for $14.75 each. The most recent document was filed in late May 2014.

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While in the past there have been rumors that ZocDoc might be prepping for an IPO soon, Forbes reported that earlier this year CEO Cyrus Massoumi said ZocDoc was in no hurry to go public.

In early June, shortly after the announcement of the new funding raise was filed, ZocDoc launched a premium service that employers can offer their employees, called ZocDoc for Business. This was ZocDoc’s first offering targeted at employers. ZocDoc for Business launched with a handful of employer customers, including Foursquare, Gilt, IAC, Jefferies, NASDAQ OMX, and Quirky.

ZocDoc’s other service, which is available on iOS and Android devices, is targeted at consumers. The app asks for a user’s zip code and insurance provider and then lists doctors and their availability. Users can then select a time to complete an appointment booking. Since October 2012, ZocDoc has also offered a check-in feature so that patients can also send over a basic medical history before they arrive instead of filling out the medical history clipboard. At the time, the service was only available to about 10 percent of ZocDoc’s customers.

In March, the company also announced plans to make its service available in all 48 contiguous states by the end of 2014.

Last year, Business Insider reported that Aetna once offered to buy  ZocDoc for more than $300 million, but ZocDoc rejected the offer. This was reportedly in 2011 and shortly afterwards, Business Insider adds, Aetna acquired Healthagen, maker of iTriage, an app that offers similar services to ZocDoc.


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