Paris-based telehealth company Doctolib announced that it raised €150 million in funding led by General Atlantic. Existing investors Accel Partners, Eurazeo, Kernel, and Bpifrance, and several German healthcare entrepreneurs also participated in this round. With this funding round, it values Doctolib at more than €1 billion.
With this funding round, Doctolib is planning to accelerate growth in France and Germany and promote the adoption of its telehealth solutions. Plus it will be used for product development and international expansion. Going forward, Doctolib is also going to create medical practices and work closely with physicians and hospitals to improve access to healthcare as well as the patient journey and experience.
Doctolib is also going to double the size of its team in the next three years to support growth in Germany and France. And the company will be doubling its investment in technology, product, and design.
“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. 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,” said Doctolib co-founder and CEO Stanislas Niox-Chateau in a statement.
Doctolib offers doctors and hospitals a software solution with a full range of services to help improve the efficiency of their operations and provide patients with a more seamless experience. And the company helps find new patients and makes it easier to collaborate with other doctors.
For example, Doctolib allows patients to find nearby healthcare professionals and book/manage appointments online 24/7. And it offers remote medical consultations via video and sends digital prescriptions to online accounts.
Over the last five years, Doctolib has become a leading e-health service in Europe. Currently, Doctolib receives 30 million online visits from patients every month. And Doctolib is partnered with a community of more than 75,000 physicians and 1,400 healthcare facilities. Doctolib employs 750 people and has offices in 40 cities across France and Germany.
“The European healthcare market is at a digital inflection point. We believe technology is in the early innings of transforming how patients and doctors engage with healthcare, and that there is significant potential to improve the service delivery model and overall access to healthcare,” added General Atlantic managing director and head of technology for EMEA Chris Caulkin. “We are very impressed by Doctolib’s progress in only five years. Their approach to healthcare digitization has delivered concrete results. We are very excited to join the Doctolib team in their mission to transform healthcare.”