What You Should Know:
– Mevo, a digital prescription platform in Brazil, announced today that it has raised $19M in Series B funding.
– The investment round was led by Matrix, with participation from Jefferson River Capital (former Blackstone President and current Costco chairman, Tony James’ family office), and existing investors Floating Point and IKJ Capital. Notable new investors include Elliot Cohen, former Amazon Pharmacy leader and PillPack co-founder.
Transforming the Prescription Landscape
Mevo was founded in 2017 with a vision to become the infrastructure for e-prescriptions in Brazil, where over 150 million people still rely on handwritten prescriptions. The company’s user-friendly mobile platform allows patients to easily access and purchase medications, enhancing medication adherence and overall patient experience.
Improving Patient Outcomes
Before Mevo, Brazil’s prescription system was entirely paper-based, contributing to unfilled prescriptions and poor patient outcomes. Mevo’s technology enables healthcare providers to issue digital prescriptions that patients can use at any pharmacy, including Mevo’s own marketplace. With over 10 million patients already benefiting from Mevo prescriptions, the platform has achieved widespread adoption across all Brazilian pharmacies.
Seamless and Efficient Medication Access
Mevo simplifies the medication purchasing process. With a Mevo e-prescription, patients can buy medications in just three clicks and receive them via delivery in approximately 60 minutes from Mevo’s pharmacy partners or choose their preferred pharmacy. This flexibility and ease of use are designed to improve medication adherence and overall patient care.
Strengthening the Healthcare Ecosystem
Mevo integrates with health information systems, electronic medical records, telemedicine platforms, and healthcare providers. It has established over 250 B2B partnerships across all 26 Brazilian states and the Federal District, serving both public and private healthcare sectors.
Mevo’s platform benefits all stakeholders in the healthcare ecosystem:
- Patients: E-prescriptions and easy medication ordering improve adherence and treatment outcomes.
- Healthcare professionals: Clinical support tools reduce bureaucracy and medication errors. Studies have shown a 33% reduction in detrimental drug interactions with Mevo’s platform.
- Healthcare providers: Access to structured digital prescription data enables better patient service and real-time information analysis.
Future Plans
The new funding will enable Mevo to expand its network of healthcare provider partners, enhance its platform, and explore additional healthcare services beyond prescription fulfillment.
“This investment will allow us to expand our network and introduce new product offerings that continue to improve the customer experience,” said Pedro Dias, CEO and co-founder of Mevo. “We’re focused on offering Brazilians a better way to access healthcare. Mevo is already serving millions and we see a path to everyone across the country managing their health needs from their mobile devices, with security and ease.
