Healthtech Startup Alice Raises a US$127M Series C Round Led by Softbank

Alice, a healthcare startup from Brazil, has raised US$127 million in a Series C round led by SoftBank Latin America Fund, which would make it the largest round yet for a healthtech startup in Latin America.

Other investors include shareholders Kaszek Ventures and ThornTree Capital Partners and new investors such as Allen & Company LLC, G Squared, Globo Ventures and StepStone. Alice’s shareholders include Canary, Endeavor Catalyst, and Maya Capital.

The new capital will be used to invest in technology and expand the services offered by the startup. Alice operates as a B2B model that provides health services as a benefit to corporate employees. The Covid-19 pandemic fueled the creation of this company due to the health emergency that devastated the South American country.

Alice recently acquired the startup Cuidas, another corporate health company, for an undisclosed amount. It’s one of the more than 520 startups in the Brazilian health tech sector.

The country’s opportunity in this industry is enormous. Its population of 212 million explains the US$81 billion spent in the public health sector, with only less than 25% of Brazilians having access to private medical care.

This is why Alice seeks to solve some of these health issues, according to Paolo Passoni, director of Softbank Latin America Fund. Currently, the company has more than 6,000 customers, having 10 hospitals and 200 labs as allies.

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