European medical start-up Doctolib has reached a valuation of a billion euros following the completion of a funding round that saw investors commit £128 million to the project.
Founded in 2013, Doctolib began by offering EU hospitals and doctors a software-as-a-service package that allowed patients and doctors to manage their medical calendar, in which patients can book appointments through Doctolib.
The French-German medical enterprise is aiming to take over all of the steps patients and doctors have in scheduling and keeping appointments. Through their website people can find their closest healthcare professionals and book appoints online at any time.
Doctolib’s online website is also starting to facilitate the use of video software in delivering medical consultations to patients, who can then receive a digital prescription to their account.
Stanislas Niox-Chateau, Doctolib co-founder and CEO, commented in a release that: “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.”
Doctolib To Expand Team and Push Into New Locations
The company was founded just over five years ago, but has so far managed to amass an evaluation of over a billion euros.
Doctolib have commented that they will use the latest investment of £128 million to double the size of its team over the next three years.
A key area for growth they have identified is the use of video applications to connect doctors and patients remotely. The company plans to roll out their telehealth service to over 75,000 physicians and more than 1,400 healthcare centres in Germany and France.
Niox-Chateau commented on the company’s expansion that: “The most important investment that we plan to make is in our own team. We plan to double the size of our team, and continue to invest in team happiness and personal development. We are 750 Doctolibers who have an entrepreneurial mind-set. We are passionate about healthcare and the proposition we deliver to physicians, assistants and patients.”
The funding round was led by global growth equity firm General Atlantic and its partner investors, Bpifrance, Kernel and Accel. A number of German healthcare entrepreneurs are also associated with the investment but they have not been named.
Chris Caulkin, Managing Director and Head of Technology for EMEA at General Atlantic, said: “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. We are very impressed by Doctolib’s progress in only five years.”
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