ZocDoc Raises $50M, Tied for 3rd Largest Deal of Q3 2011

ZocDoc has secured a $50M investment – tied with Evernote for the third largest investment in Q3 2011 – as the company plans to expand into new markets (see below for Q3 top 10 investment list).

ZocDoc is a free online service that lets patients find doctors based on location and instantly book appointments. The Series C investment from DST Global brings the total raised to $70M.

DST Global also led the Series G funding round for Twitter, investing a reported $400M – the largest investment of Q3 thus far.

“Given the well-documented need for change in the health-care system, both in the U.S. and worldwide, ZocDoc brings much-needed transparency and efficiency to an immense industry that’s long been difficult to navigate,” Yuri Milner, founder of DST Global, said in a statement.

ZocDoc has more than 5M available appointments in nine major metropolitan areas, including San Francisco, New York and Atlanta.

Approximately 700K patients who use ZocDoc to find a doctor every month. While it is free for patients, ZocDoc charges doctors and other health-care providers $250 per month to use the service.


FURTHER READING

1. Cyrus Massoumi on This Week in Startups (May 31, 2011)

2. "1 in 5 Americans Use Social Media for Health Care Information" (National Research Corp.'s Ticker survey, Feb. 28, 2011)


Top 10 Largest Investments in Q3 2011 to Date

Four of these 10 deals were announced in August, including the three largest.

1. Twitter: $400M Series G funding led by DST Global (Aug. 1, 2011)
    http://blogs.forbes.com/tomiogeron/2011/08/01/twitter-confirms-dst-global-financing/
    http://blog.twitter.com/2011/08/your-world-more-connected.html

2. Airbnb: $112M Series B from Andreessen Horowitz, DST Global and General Catalyst (July 25, 2011)
    http://www.airbnb.com/press_release/Airbnb_PressRelease_SeriesB_07252011.pdf

3. ZocDoc: $50M Series C from DST Global (Aug. 2, 2011)
    http://blog.zocdoc.com/zocdoc-secures-50m-to-revolutionize-healthcare/

4. Evernote: $50M Series D led by Sequoia Capital (July 13, 2011)
    http://blog.evernote.com/2011/07/13/evernote-gets-50-million-in-funding-with-faq/

5. Hearsay Social: $18M Series B led by New Enterprise Associates (July 28,2011)
    http://www.prnewswire.com/news-releases/hearsay-social-secures-18-million-from-nea-and-sequoia-capital-126317798.html

6. Badgeville: $12M Series B led by Norwest Venture Partners and El Dorado Ventures (July 13, 2011)
    http://www.badgeville.com/about/press/announcements/Badgeville-Raises-12M-SeriesB-Led-By-Norwest.php

7. Yext: $10M Series D from WGI Group (July 28, 2011)
    http://www.yext.com/blog/?p=56

8. Turntable.fm: $7.5M from Union Square Ventures (Aug. 2, 2011)
    http://www.betabeat.com/2011/08/02/turntable-fm-chooses-union-square-ventures-over-kleiner-and-accel/

9. Alice: $3.4M in new VC debt financing (July 15, 2011)
    http://www.venturedeal.com/News/2011/7/15/Alice-Adds-$3-Million-VC-Funding

10. ChoozOn: $3.2M Series A from Worldview Technology Partners and AVG Ventures (Aug. 2, 2011)
    http://www.choozon.com/AngelFunding.php