Mevo, a São Paulo, Brazil-based provider of a digital prescription platform, raised $19M in Series B funding.
The round was led by Matrix, with participation from Jefferson River Capital. New investors included Elliot Cohen, former Amazon Pharmacy leader and PillPack cofounder. TJ Parker, Partner at Matrix Partners and fellow cofounder of PillPack (acquired by Amazon), will join Mevo’s board of directors.
The company intends to use the funds to:
- Expand its network of healthcare provider partners
- Enhance its digital prescription and pharmacy marketplace platform
- Explore additional healthcare services beyond the fulfillment of prescriptions
Led by CEO Pedro Dias, Mevo aims to simplify and improve the experience for:
- Patients – Mevo’s e-prescription also allows to search and order their drugs and exams prescribed, enabling better adherence to their treatment and care
- Healthcare professionals – Mevo’s clinical support tools reduce bureaucratic processes and error. One study showed that during one year of usage, doctors reported 33% fewer detrimental drug interactions.
- Healthcare providers – Mevo makes it possible to structuring relevant digital prescription data that was nonexistent within the paper-only reality. This helps hospitals and clinics better serve patients with real-time information and analysis.
Mevo integrates with health information, electronic medical record, telemedicine and healthcare providers. Currently, it has over 250 B2B partnerships with these providers in all 26 Brazilian states and Federal District in both public and private health sectors.
The company had raised a SAFE in December 2023 in preparation for its Series B, which has now been converted, and was anchored by current investor Floating Point, with the participation of other current investors, including IKJ Capital.
FinSMEs
19/09/2024