Zocdoc is a digital healthcare marketplace led by founder and CEO Oliver Kharraz, M.D. Millions of patients use its free service each month via the website or app to find in-network doctors and book in-person or virtual appointments. The platform also provides verified patient reviews and reminders for upcoming appointments and preventive checkups. The company raised a growth financing to accelerate its expansion and product development. It plans to use the capital to deepen investments in sales and marketing and to expand the products available through its platform. The report names Francisco Partners as the investor in the financing. ZocDoc is a New York-based online medical appointment scheduling service that is free for patients and charges doctors $3,000 annually. The company says it has millions of customers, covers 60 percent of the U.S. population, and employs about 600 people across three offices. In June of last year filings suggested a $152 million raise, and the company announced it closed a $130 million funding round at a $1.8 billion valuation. The round was led by Atomico and Baillie Gifford, with participation from previous backer Founders Fund; ZocDoc has now raised $230 million in total. The company declined to share whether it is profitable or discuss an IPO timeline, saying instead that "every month is a record-setting month for us, in one capacity or another." The presence of foreign investors was noted as suggesting a bigger international push. ZocDoc operates an online physician-finder and scheduling platform and has launched a ZocDoc for Business unit serving employer wellness programs. ZocDoc for Business sends personalized wellness reminders based on employees' medical history and age to drive immediate appointment booking. The channel is intended to improve patient engagement and help employers assess wellness program effectiveness; most appointments booked through the unit are with in-network providers to help control costs. The company recently expanded into the employer wellness market—estimated at $600 million—and aims to have a presence in every state by the end of the year. As of March, ZocDoc’s scheduling and physician-finder service covered 40% of the country and had surpassed 5 million users. The company also completed a fresh capital raise that supports these expansion efforts and its employer-focused push. ZocDoc operates an online platform that lets patients book health-care appointments across a wide range of procedure types. The service has expanded to cover more than 1,000 procedure types and is live in over 1,800 cities. The company reports having more than 400 employees and says the vast majority of the regions in which it operates are profitable. ZocDoc has previously raised about $95 million in venture capital from investors including Khosla Ventures, Goldman Sachs, DST Global, and others. The company recently expanded its New York headquarters and says it is continuing to pursue growth. CEO Cyrus Massoumi has characterized fundraising activity as opportunistic rather than a necessity. ZocDoc is a free online service that helps patients find and schedule doctor and dentist appointments. It was founded in 2007 by CEO Cyrus Massoumi, COO Oliver Kharraz, MD, and CTO Nick Ganju. The platform lists a wide range of specialties, including primary care, dermatology, eyecare, ENT, orthopedics, OB/GYN, allergy, podiatry, cardiology, pediatrics, radiology and psychiatry. Originally launched to book dentist appointments in New York, the service now operates in numerous U.S. cities including Los Angeles, Chicago, Dallas, Philadelphia, Houston, Phoenix, Washington, DC, Atlanta, San Francisco, Boston and Miami. The company is actively hiring as it continues to expand its footprint. Investors named in the article include Khosla Ventures, Bezos Expeditions, DST Global, Founders Fund, Goldman Sachs and Marc Benioff.

Total raised

$580M

Funding rounds

9

Latest round

Equity

Latest activity

Feb 2021