With the new cash, the company is raising its valuation to whopping $1.6 billion, hinting us that doctor-booking market is worth a lot of money.
ZocDoc makes money by charging doctors to list their practice on the site.Founded in 2007, ZocDoc enables people to search for doctors, read and submit reviews, and book appointments online. They make their cash by charging doctors to list their practice on the site.
In February, the company announced a major milestone, having surpassed 5 million users in 2,000 cities, or 40% of the U.S. market. By the end of this year, their goal is to be available everywhere in the country, while also opening offices in other parts of the world.
Alongside their consumer offering, ZocDoc also offers “ZocDoc for Business,” which helps employers get their employees into wellness programs.
Previously, ZocDoc raised $75 million from DST Global and Goldman Sachs.