Digital healthcare marketplace ZocDoc has closed a $150m growth financing round from Francisco Partners, after a “momentous year for the company.”
ZocDoc transitioned to a profitable variable revenue model last year, with its revenue growing by over 35% year-over-year.
With the funds, the company plans to continue its growth, bolster sales and marketing efforts and expand the products available on the platform.
Founded in 2018, the company offers a digital healthcare marketplace for in-person and virtual care. The platform helps consumers find healthcare providers that will take their insurance.
The InsurTech recently launched the Zocdoc Vaccine Scheduler tool, which is designed to help cities, states and healthcare providers centralise and streamline vaccinations. This new tool is being offered for free to help accelerate public health efforts.
This tool has already been adopted by the City of Chicago.
Francisco Partners head of credit and structured solutions Scott Eisenberg said, “Zocdoc is a remarkable company that is well positioned to be consumers’ one-stop-shop for all their healthcare needs, and we’re proud to work with them to fund their next chapter.
“We’ve been incredibly impressed by the pace of Zocdoc’s innovation and growth, as well as the company’s invaluable contributions to improving America’s healthcare system – including supporting the needs of patients amid the COVID-19 pandemic.”
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