Brazilian HealthTech Startup MedPass upgraded its platform (and investors liked)

Brazil’s HealthTech App MedPass unveils enhanced quality of life Platform and gains strong Investor Backing with $8M Seed Funding, and $6M Additional Capital Secured.

Brazilian HealtTech startup MedPass unveiled today in São Paulo, Brazil, an enhanced version of its quality of life platform. At the same time, the company reported additional investor backing.

The global HealthTech apps market has a strong growth projected. The Brazilian startup MedPass has achieved a leading position in this wave, gaining traction between investors and clients.

HealthTech in Brazil: a promising but fragmented market

Even before the pandemic emergency, HealtTech has been one of the most attractive sectors for seed-stage investors in Latin America. However, few startups have gained enough trust of investors.

In Brazil, the healthcare startup market is highly fragmented. Over 500 companies are listed on Crunchbase in this industrial sector. Though, just 30 of them have received more than $1 M in seed funding. Meanwhile, only 10 HealtTech companies have attracted above $5 M. 

MedPass is one of those ten companies.

Since 2016, MedPass has secured $8 million in seed funding. Now it has commitments from investors for another funding round of $6 million to finance the company’s continuing growth.

Read also: Brazilian Startups: 2020 begins with growth opportunities

MedPass introduces its HealthTech Platform

MedPass launched version 4.0 of its HealtTech Platform today. This upgrade adds unique features, as a virtual assistant “Ben,” equipped with over 120 medical algorithms applied individually to the risk profile and medical records of the user. In this way, it allows for specific screening and meaningful medical help.

Currently, Medpass targets corporate employees. The employees of MedPass clients begin their journey using MedPass by filling out digital assessments, within the MedPass application itself, of their health conditions, habits, and behaviors. 

The results obtained generate managerial dashboards updated through integrated digital medical records, with assessments of the quality of life and health, which guide population management policies of the clients. Messaging resources have also been created to allow clients’ HR staff to transmit important communications with specific employees or companywide.

Read also: Ten Brazilian Startups Rising Up

Health Monitoring can be engaging

Through the app and its own “Health Center,” MedPass focuses on engaging its users by guiding and monitoring them. In this communication channels, physicians and nurses engage through chat/video, seven days a week. And if it’s advisable, users can schedule consultations with specialized physicians. 

Health professionals can access digital medical records of client employees through MedPass and can prescribe medications and lab exams, which can be performed at a discount in an accredited network.

The need for MedPass’s unique technology was unmistakably clear before COVID 19. But with the outbreak of the pandemic, regular monitoring of health takes on added urgency, which MedPass ensures.

MedPass co-founder Hans Apostel 

MedPass co-founder Hans Apostel remarked that regular monitoring of health has taken on added urgency with the outbreak of the pandemic, and MedPass ensures that.