Sofía: Mexican HealthTech Startup Announces Launch and USD 19 Million Series A Funding Round

Equipo Editorial Sofía

noviembre 18 2020

Funding validates Sofia’s value proposition and significant opportunity to disrupt the insurance/healthcare market in Mexico; enables the company to solidify their product and to enable users to improve the way they approach healthcare.

Mexico City, November 18th, 2020 - Sofia, Mexican healthtech startup which will provide access to a complete healthcare experience enabled by technology, from primary care to major medical insurance, today announced a 19 million USD Series A round of funding led by Index Ventures where Jan Hammer, Neil Rimmer and Hannah Seal will be working actively with the company.

 

“Becoming the first digital health insurer to achieve regulatory approval is a huge milestone for the company, and opens up an opportunity to transform how care is delivered. We're excited by Sofía's vision to build end-to-end healthcare and a full-stack insurance offering. While Mexico has not historically been a core geography for us, it's a sector we know well, a huge market opportunity, with fantastic entrepreneurs who have assembled a world-class team.” declared Hannah Seal, Principal, Index Ventures. 

 

Sofía is the first healthtech company in Mexico to empower people to take charge of their health, making the navigation through a healthcare journey easier and in a more appealing way, focusing on user experience. This round will enable Sofía to further develop their product, and launch with a novell go-to-market strategy into a category currently dominated by incumbents.

 

“We’re thrilled about this project being a reality and finally able to improve the way that millions of people face and access healthcare. When living and working abroad, us three founders have experienced first hand better and simpler healthcare, novel go-to-market for insurance, all enabled by tech. We’re excited to come back home to Mexico, partnering now with Index Ventures.” said Arturo Sánchez, founder and CEO, Sofía.

 

While Sofía’s operations started earlier this year as a result of the COVID-19 global pandemic, only a telemedicine module was pre-launched, providing free medical videoconsultations to everyone in need of quality remote healthcare.

 

Key features of Sofía’s complete health plan include:

  • In-app, simplified and insurance subscription process, no agents or brokers
  • Preventive medicine/primary care access via videoconsultations with no additional cost
  • Deductible-free claims on the insurance module
  • Rolling reinstatable maximum insured sum

 

“Sofía is more than only a telemedicine app, as many others that have been born during the pandemic. We’ll make navigating through the healthcare ecosystem simpler and better. With a streamlined experience, our customers will have complete insurance coverage, from treating simple ailments via a videoconsultation, to major events and/or accidents. Services are covered no matter how small, deductible free, and with direct service and support 24/7.” stated Sebastián Jiménez-Bonnet, founder and CPO, Sofía.

 

Currently Sofía’s team is comprised of more than 40 experienced employees ranging from mathematicians to healthcare professionals, with designers, marketers and software engineers in between, with a shared vision: improve the way millions of people approach their health.

 

“Our vision and purpose are shared throughout the whole team, who’s been working relentlessly over more than two years to get Sofía’s health plan to market. We consider ourselves a healthcare company first, insurtech company second; our main priority is the healthcare journey of our customers, with emphasis on user experience, enabled by technology.” said Manuel Andere, founder and CTO, Sofía.

 

In March 2020, Sofía announced 6.3 million USD in seed funding, bringing its total funding to north of 25 million USD. Previous investors include Kaszek Ventures, Ribbit Capital, Cavalry Ventures, as well as angel investors such David Vélez, founder and CEO of Nubank.

 

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About SOFÍA

SOFÍA is a Mexican healthtech company that aims to change how people approach healthcare through extraordinary experiences, products, and services, impacting the health of millions. SOFÍA was founded in 2018, headquartered in Mexico City. 

 

Press contact:

Mike Lambarri

mike@sofiasalud.com




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