GESTO, a healthtech consulting company that uses data science to intelligently manage healthcare plans, has closed a Series B investment round for an undisclosed amount, led by Redpoint eventures with participation from Endeavor Catalyst. This second round of funding will be used to drive the company’s continued fast growth and to expand its application of big data to generate intelligence for the complete cycle of healthcare benefits management, from consulting and brokerage of the health plan to its maintenance and monitoring on a daily basis.
“This new investment is important for us to ensure our continued rapid growth, excellent customer service, and our ability to improve Brazil’s overall healthcare market. In 2016, we introduced a benefits brokerage that integrates data science into the quotation strategy, in addition to our technology consulting business. This expansion drove 100 percent growth during 2017. Now, our goal is to triple our revenue in the next two years and be among the three most remembered brands in the health benefits consulting category,” said GESTO CEO and Endeavor Entrepreneur Fabiana Salles.
Selected as an Endeavor company in 2017, GESTO has developed solutions to balance patients’ healthcare needs with financial sustainability. The company has pioneered the application of big data to bring more efficiency to healthcare management, a critical issue for Brazil, which consumes about 12 percent of resources to finance 65 percent of supplementary health in Brazil. To make matters worse, healthcare-management costs have continued to rise which increases medical-hospital cost annually in the double digits, a faster growth rate compared to Brazilian inflation.
GESTO currently has more than 100 clients and manages a bank of six million patients monthly, higher than the population of 95 percent of Brazilian cities. Its main solution is the intelligent management of health plans, which comprises three levels of services linked to technology: information management, medical management and benefits management.
“Just as with fintech, we believe that technology is already driving major transformations in the Brazilian health market, which is huge and full of inefficiencies,” said Fabiana. “In this sense, we modeled all of our experience acquired over the years to develop our customer offerings powered by big data and supported by data science. We are working hard so that GESTO becomes one of the top references for healthtech in Brazil and designing our solutions to help bring sustainability our country’s healthcare system.”
About Redpoint eventures
Redpoint eventures is an early-stage venture capital firm focused on the internet based in São Paulo. Our mission is to support entrepreneurs in the Brazilian digital market in their journey in creating high-growth companies. Together with its partners, the renowned American funds Redpoint Ventures and e.ventures, the fund brings capital, access to Silicon Valley and global best practices for high-potential startups. In addition to supporting the companies in its portfolio, the fund’s team seeks to contribute to the development of entrepreneurship ecosystem in Brazil. For more information, visit www.rpev.com.br.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised over $115M in philanthropically donated and invested capital, and invested into 80+ Endeavor companies in 20+ markets. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina, Yemeksepeti.com (acquired by Delivery Hero) in Turkey, and dr. consulta in Brazil.