Largest funding to date for a digital heath company targeting the Hispanic community in the U.S.
ConsejoSano – the leading digital health company helping Spanish speakers navigate America’s healthcare system- has raised $4.9 Million in a Series A round led by 7wire Ventures, with participation from Tufts Health Ventures, the investment and acquisition arm of Tufts Health Plan, TOTAL Impact Capital, Wanxiang Healthcare Investments, Acumen, Oxeon Partners and Impact Engine. The Series A capital infusion brings the total funding for the company to $7.2 million.
The Series A funding will help ConsejoSano develop its capability to collect data analytics to improve preventive care for Spanish speakers. ConsejoSano (which means “healthy advice”) provides an integrated service including multi-channel messaging, care navigation, data analytics, and 24/7 access to native-Spanish speaking medical navigators. This new technology will help ConsejoSano collect data and identify actionable insights to help improve care, ensure appropriate care is provided and save money and time for patients, providers and payers.
“The extraordinary interest we have received from clients seeking to better serve their Spanish speaking employees, insured customers, and patients has clearly demonstrated the need for ConsejoSano’s unique services,” said Abner Mason, ConsejoSano Founder and CEO. “Over 40 million people in the United States prefer or need to speak in Spanish about healthcare issues, and we’re committed to helping clients and partners to provide the care and support they deserve.”
According to 2015 Research Center survey, 92% of Hispanics own a mobile phone. ConsejoSano also offers a HIPPA compliant 2-way SMS text messaging service allowing them to proactively reach out to Spanish speaking users with timely, customized information and behavior change programs.
The majority of ConsejoSano’s clients are health plans, employers and at-risk providers seeking to increase engagement from their Spanish-speaking customers, employees and patients. Early clients include LaSalle Medical Associates, a large at-risk provider serving a primarily Medicaid population in Southern California and UNITE HERE HEALTH, the labor union health plan for hotel and restaurant workers.
“We are very excited to lead this round of investment in ConsejoSano” said Lee Shapiro, Managing Partner for 7wire Ventures. “Their mission is aligned with ours- using technology to help enable consumers to better manage their health. By providing a highly personalized service, focused on meeting Spanish speaking consumers where they are, ConsejoSano will address the needs of those who are underserved by current resources and programs, allowing these individuals to get the care they need, when they need it.”
“Today’s health care system can often be complex, and almost impossible to navigate for those who speak a primary language other than English,” said Derek Abruzzese, managing director of Tufts Health Ventures and chief strategy officer of Tufts Health Plan, a non-profit health plan nationally recognized for its high quality plans with more than one million members in Massachusetts, New Hampshire and Rhode Island. “ConsejoSano performs a very important service for its clients, simplifying the complicated health care world for Spanish speaking individuals. This investment is in line with our mission of improving the health and wellness of the diverse communities we serve.”
ConsejoSano has been selected as a preferred vendor by Mercer, the global consulting leader in talent, health, retirement and investments.
ConsejoSano was advised throughout its start-up, seed and Series A capital phases by TOTAL Impact Capital, a merchant bank for impact investment. In conjunction with the Series A financing, ConsejoSano has also launched its Industry Advisory Council, composed of healthcare leaders committed to reducing disparities in healthcare for Hispanics across the U.S.
“I am very pleased to welcome these national leaders to the ConsejoSano team. Their unparalleled experience with the Hispanic community and their commitment to improving health outcomes will ensure our solutions are efficient, effective, and of the highest quality”, said Founder and CEO Abner Mason.
Council members include:
- Dr. Molly Coye, MD, Chairperson – Board member at Aetna/Executive in Residence with AVIA
- Dr. Albert Arteaga, MD, Founder and CEO at LaSalle Medical Associates
- Dr. Joseph Betancourt, MD, Director of the Disparities Solution Center
- Dr. David Kaplan, MD, Global Leader for Clinical Solutions at Mercer
- Margaret Laws, President and CEO of HopeLab,
- Larry Leisure, Co-Managing Director at Chicago Pacific Founders and Chairman at ADVI
- Juan Lopera, Vice President for Business Diversity at Tufts Health Plan
- Dr. Elena Rios, MD, President and CEO for the National Hispanic Medical Association
- Antonio Tijerino, President and CEO for the Hispanic Heritage Foundation
- Bruce Hebets, CEO Borrego Community Health Foundation
ConsejoSano is the leading Hispanic health platform in the US, helping both payers and providers to improve care, increase engagement, and lower costs related to care for Spanish-speakers. It is the only telehealth service in the country that offers unlimited, 24/7 access to native Spanish-speaking doctors. The website can be accessed or mobile apps downloaded at www.consejosano.com.