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Zocdoc

Zocdoc

Zocdoc is a company an online medical care appointment booking service.

ABOUT COMPANY

Zocdoc is an online platform where you can find the right doctor, make an appointment and get a video consultation. The company was founded in 2007 and is headquartered in New York.

The platform led the online medical appointments market, and during the pandemic, Zocdoc partnered with Twilio to enter the fast-growing telemedicine market. The company launched the Zocdoc Video Service (ZVS), which allows patients to securely communicate with doctors, receive consultations and track the progress of treatment online. Zocdoc has become one of the few digital healthcare platforms that supports both face-to-face appointments and online consultations with doctors.

The company has already held more than a million online patient appointments with ten thousand specialists in one hundred areas. In May 2020, Zocdoc founder and CEO Oliver Harraz told Engadget that video consultations now account for between 30% and 40% of all appointments, compared to "virtually zero in early March."

COMPANY PROSPECTS

The global telemedicine market is expected to grow by 15% per year and reach $155.1 billion by 2027. The number of chronic diseases is increasing, the demand for self-medication medicines and remote consultations is growing.

Thanks to the pandemic, funding for digital medicine has reached record levels. In 2020, the amount of funds invested in digital health, including venture investments, public and debt markets, reached $21.6 billion. This is 103% higher than $10.6 billion in 2019, according to a report by research firm Mercom Capital Group.

RISKS

Growing competition. More companies and health care providers are entering this market.

Potentially limited growth. Since Zocdoc already operates in most major US metropolitan areas, further expansion in the Americas may be limited.

FINANCE AND VALUATION

Zocdoc reported being profitable. Before the pandemic, the company managed to achieve annual revenue growth of 35%, and in the near future, despite the crisis due to COVID-19, Zocdoc plans to break its earnings records.

In November 2021, the company raised $150 million from Francisco Partners in an undisclosed investment round. In February 2021, it was about $2.63 billion.

As of November 2021, Zocdoc has completed ten financial rounds and raised $375 million. Investors include Goldman Sachs (invested in Alibaba, Spotify, Pinterest), Peter Thiel's Founders Found (invested in Airbnb, SpaceX, Lyft), Yuri Milner's DST fund Global (invested in Facebook, Spotify, Flexport, Robinhood).

Timeline

February 11, 2021
Zocdoc banks $150M in new funding as it expands into virtual care, vaccine scheduling.

August 20, 2015
Zocdoc raises a $130,000,000 series D round from Atomico, Baillie Gifford, Blue Collective and Founders Fund.
2015
Zocdoc generates $71 million in annual revenue.
September 22, 2011
Zocdoc raises a $75,000,000 series C round from Goldman Sachs.
July 14, 2010
Zocdoc raises a $15,000,000 series B round from Founders Fund, Khosla Ventures and SV Angel.
August 18, 2008
Zocdoc raises a $5,000,000 series A round from Jeff Bezos, Khosla Ventures and Marc Benioff.
2007
Zocdoc was founded by Cyrus Massoumi.

Funding Rounds

Products

Patents

Further Resources

Title
Author
Link
Type
Date

News

Title
Author
Date
Publisher
Description
Zack Whittaker
May 24, 2021
TechCrunch
Around 7,600 users across the U.S. are impacted by the security incident, the company said.
Heather Landi
March 15, 2021
FierceHealthcare
While the COVID-19 vaccine rollout in the U.S. has improved since its rocky start in December, Americans continue to be on the hunt for an appointment slot. Zocdoc co-founder Cyrus Massoumi wants to make sure COVID-19 vaccine doses are getting into arms and not the trash. He recruited engineers from Microsoft and Haven and launched Dr. B, an online vaccine standby list.
Heather Landi
March 1, 2021
FierceHealthcare
Ensoma banked $70 million to advance genomic medicine, Innovaccer joined the ranks of digital health unicorns with a $105 million funding round, and more funding news in February.
AlleyWatch
February 16, 2021
AlleyWatch
The Pulse of New York Tech
AlleyWatch
February 12, 2021
AlleyWatch
The Pulse of New York Tech
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References

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