French 'WeDoctor' Doctolib Raises €150M in Series E to Expand Video Consultation Services

VCBeat (WeChat ID: vcbeat) has learned that on March 19, 2019, Doctolib, a French online doctor appointment platform, completed a €150 million Series E financing round. The round was led by the established investment firm General Atlantic, with participation from Eurazeo, Bpifrance, Kernel, and Accel. Following this investment, Doctolib’s post-money valuation reached €1 billion, joining the ranks of unicorn companies.

Since its establishment in 2013, Doctolib has successfully completed multiple rounds of financing, with no more than 12 months between each round, accumulating a total of €245 million in funding.

Doctolib’s Financing History (Source: Crunchbase, VCBeat)

Headquartered in Paris, Doctolib primarily provides online medical appointment management services, with users paying a monthly subscription fee to access its software. The company’s software platform enables healthcare providers to schedule appointments and allows patients to book consultations with doctors conveniently and efficiently. Currently, Doctolib has grown into Europe’s leading digital health company. In January 2019, Doctolib launched a new service that enables video consultations between doctors and patients, automatically sending digital prescriptions and online invoices to patients after the consultation.

In just five years, Doctolib has partnered with 75,000 doctors and 1,400 healthcare institutions, attracting 30 million patient visits online each month. The company now employs 750 people and maintains offices in 40 cities across France and Germany.

Doctolib intends to use the funds for:

1. Double the workforce to 1,500 employees within the next three years to support market growth in France and Germany;

II. Developing new products, the company has two development centers in Paris and Berlin, with 150 engineers and developers;

III. Develop video consultation services;

IV. International Expansion.

“Doctors and hospitals are at the heart of healthcare transformation,” said Stanislas Niox-Chateau, Co-founder and CEO of Doctolib. “We aim to improve the efficiency and profitability of healthcare providers’ services and help them manage their patients.”

Stanislas Niox-Chateau, Ivan Schneider and Jessy Bernal, Co-founders of Doctolib (Source: www.ft.com)

Chris Caulkin, Managing Director and Head of Technology at General Atlantic, stated: “The European healthcare market is at a turning point. We believe Doctolib holds significant potential to improve care delivery models. We are impressed by the company’s achievements in just five years and the considerable success of its approach to digitalizing healthcare. We are delighted to invest in the Doctolib team.”

General Atlantic is a well-established global equity investment firm founded in 1980, providing capital and strategic support to growth-oriented companies. General Atlantic employs more than 300 investment professionals across offices in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, and Singapore.

Eurazeo is a private equity investment firm that provides investment services to small and medium-sized enterprises, with cumulative investments in more than 31 companies. Founded in 1969, the firm is headquartered in Paris.

(Compiled by Yang Shaobo)