New Investment: Rapicare, Digital Solutions for Healthcare Purchasing in Brazil
By Julianne Roseman & Fan Wen
We are excited to be backing Rapicare, a digital solution for the purchasing, logistics, and accounts payable processes for the healthcare industry, in its $1M Seed funding alongside Canary, Norte Ventures, and key angel investors, such as the co-founders from iFood, Loggi, and Creditas.
Supply Management 2.0
Rapicare is transforming the healthcare industry in Latin America with automated, remote, and secure purchasing processes, increasing the productivity of the teams involved in the management of health supplies, reducing labor costs, and eliminating fraud and waste through transparency.
Small-to-medium-sized healthcare service providers are still doing procurement in person by contacting suppliers one by one. They struggle to make smart purchasing decisions due to a lack of standardization in product registration and then they don’t have bargaining power to get the best price. Rapicare enables home cares, networks of clinics, and laboratories to take control of the growing volume of requests, by using artificial intelligence to automate processes at affordable prices. Moreover, Rapicare helps these healthcare providers receive the supplies they need directly at multiple locations. The company offers everything from medicines to critically important PPE (Personal Protective Equipment) for health professionals to office and cleaning supplies for their teams.
Since we met, we’ve been impressed with the Rapicare team. Together, they have a comprehensive skill set, including backgrounds in healthcare, tech, and entrepreneurship, and have shown themselves as humble, passionate, fast-learning, and communicable. To tackle a large and messy problem like the healthcare supply chain in Brazil, a strong founding team is key.
In addition, Rapicare is quickly finding traction in the market. Already, Rapicare has worked with 47 clinics and labs and connected them to over 30 suppliers. While Rapicare is not alone in addressing the healthcare supply chain problems, their competitors don’t digitalize the purchasing process from beginning to end. We think the comprehensive solution that Rapicare provides will succeed and make them scale exponentially.
With our own growing office in São Paulo, it’s a pleasure to invest in promising startups working and innovating in Brazil. We are proud to officially welcome Rapicare to the Plug and Play portfolio family.
Plug and Play is one of the most active VCs in Silicon Valley, our goal is to fund the teams that are building the defensible businesses of the future. Join our ecosystem today.