According to Bloomberg Business, Docplanner’s co-founder and CEO Mariusz Gralewski says the company is preparing for a potential IPO, a process that could be ready in six to nine months before waiting for the right market window. The platform, which connects 100 million monthly users with 2.8 million doctors, plans to use its trove of patient data—soon to be nearly 200 million records—to build AI models for enhanced diagnostics. The company posted positive EBITDA for the first two quarters of 2025 and has an annual recurring revenue of $300 million, which could value it between $2.4 billion and $3.6 billion. Docplanner is also holding a secondary financing round next month for employees and investors to cash out shares, having already raised around €500 million from backers like Goldman Sachs Asset Management.
The Data Moat Strategy
Here’s the thing that makes Docplanner’s play so interesting. Everyone and their brother is trying to shove AI into healthcare. OpenAI and Anthropic are making moves. But Gralewski’s argument is simple: they have the fancy models, but we have the data. It’s a classic “picks and shovels” advantage, but for the AI gold rush. Having 100 million monthly users booking appointments creates a staggering, real-world dataset that pure tech companies can’t easily replicate. The key, of course, is patient consent and security. If they can crack that nut—sharing data securely to provide patient guidance—they transition from a booking platform to a foundational healthcare intelligence layer. That’s a much bigger story for an IPO.
The Autonomous Doctoring Vision
Their current AI features, like automating documentation and working on AI-driven prescriptions, are telling. Gralewski compares it to “fully autonomous driving” for doctors. That’s a bold analogy. Basically, the goal is to remove the administrative sludge that burns doctors out. If AI can handle the note-taking and form-filling, the human professional can focus on the actual human in front of them. It’s a practical, near-term application that could drive real adoption and stickiness on their platform. But you have to wonder, will doctors trust it? And can the AI handle the insane nuance and variability of real patient interactions? It’s a huge bet, but one that could fundamentally change the daily grind of medical practice.
IPO Timing and Market Reality
So, an IPO in 6-9 months… maybe. The “we don’t have to rush” line is the most important part of that announcement. They’re getting their house in order—showing profitability, doing a secondary round to clean up the cap table—and then they’ll wait. That’s smart. The market for tech IPOs is still finicky. Coming to market with a story of “we’re a profitable, data-rich platform using AI to actually improve healthcare workflow” is a lot more compelling than the growth-at-all-costs narratives that have struggled lately. The $2.4B-$3.6B valuation range based on revenue multiples seems ambitious but plausible if they can convince investors they’re a tech-enabled healthcare company, not just another app.
Stakes For Everyone Involved
For users, this could mean better, faster interactions with doctors and potentially powerful diagnostic aids down the line. But the privacy question is enormous. For the medical professionals on the platform, it’s a promise of less burnout but also a step into managed, tech-driven practice. For the market, a successful Docplanner IPO would be a huge signal for the European tech scene, proving a Polish-born unicorn can scale globally and mature financially. And for the big AI players? It’s a warning shot. Data is the real barrier to entry in healthcare AI, and companies sitting on mountains of it, like Docplanner, might just become the gatekeepers everyone else has to partner with. The race isn’t just about who has the best model anymore. It’s about who has the keys to the data vault.
