Led by General Catalyst, the funding will be used for product development and geographic expansion.
Examedithe company of medical services at home born in Chileand which seeks to improve access to exams and other health benefits in Latin America, announced the closure of its Series A at 17 million dollars (more than 15 billion Chilean pesos).
Launched in May 2021, Examedi brings the ease and logistics of food delivery apps to the world of health, connecting patients directly with nurses and partnering with laboratories to process samples.
The amount of Series A is intended for development of new productsas well as for expand your geographic footprint to other countries region of.
The round was led by General Catalyst and counted on the participation of industry leaders such as Thomaz Srougi (Dr. Consultation), Sebastian Mejia (Rappi) and Jamie Karraker (High Pharmacy).
General Catalyst is a venture capital firm. With offices in San Francisco, Palo Alto, New York, London and Boston, the firm has helped grow businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe and Warby Parker.
This round adds to the US$3.5 million seed funding that Examedi raised following graduating from YCombinator S21.
Examedi: facilitating exam taking
Examedi focuses on simplifying the process, taking the exams directly at the patients’ home or workplace. The entire process takes an average of 10 minutes, being more efficient, in terms of time and money, than testing in a medical center.
Since Examedi has no fixed costs, it is able to pass on the reduced prices to customers, becoming up to 80% cheaper than your competition.
This new model not only has the potential to ease the burden on patients, but completely transform their relationship with their healthcare.
“When I started Examedi I had only one goal in mind: to give my father the medical care he needed,” says his co-founder and CEO, Ian Lee. “He has high cholesterol levels, smokes and a long etc. He was my market. Finally, I realized that it was a global problem. Everyone has to take care of his health.”
He also adds that “in Latin America, the term ‘family doctor’ is widely used. It refers to a doctor who is trusted by the family nucleus. At Examedi we want to be the health partner of each family in the region, taking our innovations from Chile to the world. We are very pleased to have General Catalyst as a lead investor, because our mission of prioritizing quality, affordable, home-delivered healthcare fully aligns with them.”
This Series A will allow the company to continue growing in Latin America this year, with the aim of offering its services in 30 more cities and, by doing so, for more patients to improve their relationship with their health. In addition, important alliances will be announced during 2022.
“For chronic patients and their families, routine blood tests should not be another burden in their day to day life. Ian and the Examedi team have created the necessary tools to deliver a superior patient and provider experience, delivering diagnoses that have been shown to deliver better outcomes,” he says. Brian Ru, principal en General Catalyst.
“We share Examedi’s mission of closing the gap and inequity in access to healthgiving providers the ability to meet patients directly where they are, at home,” he says.
For his part, Ian Lee adds that “I think I will be innovating in the health and wellness industry for the rest of my life. We want to continue building Examedi, always with the focus on improving the lives of patients. Our mission is to save lives and we are achieving it, facilitating access to health and empowering the entire value chain of the industry”.
