Health-tech platform Doctolib raises $549 million, becomes France’s highest-valued startup

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Paris-based health-tech platform Doctolib has secured €500 million (approx. $549 million at the current conversion rates) funding advancing the company to be France’s highest-valued startup with a valuation of €5.8 billion ($6.4 billion). Existing investor Eurazeo led the funding round with participation from previous investors Bpifrance and General Atlantic.

The platform assists doctors and medical workers in handling administrative tasks such as booking and scheduling appointments, telemedicine, an instant messaging service, and back-office tools including documents centralization, viewing patients’ history, taking notes, and issuing invoices. Around 300,000 medical professionals in Europe, including general practitioners, dentists, pharmacies, and psychologists use the platform and it is estimated that another 100,000 professionals will be added to the platform this year. Employing a software-as-a-service strategy, Doctolib has a monthly recurring revenue ranging in the tens of millions of euros with a subscription price starting at €129 per month.

Further, over 60 million people have used Doctolib so far. During the pandemic, Doctolib ranked among the top video-consultation services in the world. In France, the website allows users to find the nearest vaccination center, pharmacy, or doctor with free slots for vaccination against COVID-19.

Currently operating in France, Germany, and Italy, the new funding will allow the startup to expand its employee base from 2,500 to 6,000 employees over the next 5 years in these countries. Earlier this year, the company also reported that it will grant stock options to all its employees.