ZocDoc, a New York based startup that allows patients to locate and book doctor appointments online, announced yesterday it secured a $50 million investment from prominent Russian fund DST Global in its third round of financing.
Founded in 2007, the site claims to offer 5 million appointments across nine major metropolitan areas and dozens of medical specialties. “In cities like Los Angeles and Philadelphia, where patients were accustomed to waiting 24 and 27 days on average for an appointment, ZocDoc has delivered same-day access to healthcare,” according to the site.
The startup gets revenue from healthcare providers who pay a $250 monthly fee to be listed and book appointments through the site. The service is free for patients.
The funds raised from DST will be used to “bring ZocDoc to the country and the world,” says the company.
“Our aspiration is to be as big as Google or Microsoft. Our market is that big. We have the potential to be that big. It’s just a matter of how long it takes us to get there,” CEO Cyrus Massoumi said in an April interview with Founded, an online publication about entrepreneurs.
Over the past two years, DST Global invested in such leading international Internet companies as Airbnb, Facebook, Groupon, Spotify, Twitter and Zynga. The fund is also tightly connected to Mail.ru Group, the LSE listed Russian Internet giant.
