Although Madonna famously called COVID-19 the “great equalizer” from a flower petal-filled bathtub, the reality is that the virus has disproportionately affected disadvantaged groups of people, causing higher rates of death in minority communities than the national average.
But this isn’t a new phenomenon caused by COVID-19. Minority and under-resourced communities are often hit the hardest by health crises, whether that caused by a viral outbreak (like COVID-19), or a lack of health resources (like obesity and Type 2 diabetes).
ConsejoSano launched in 2017 to provide healthcare to patients across multiple cultural and socioeconomic backgrounds because, as the company puts it, healthcare isn’t a one-size-fits-all solution.
On Tuesday, ConsejoSano announced the closing of its $17 million Series B funding round led by Magnetic Ventures. This brings the company’s total funding raised to date to $24 million.
This new funding will help the LA-based company further develop its proprietary technology. ConsejoSano has created a tech platform that helps healthcare plans and providers engage their patients of multiple cultural backgrounds. This platform is able to draw from millions of cultural data points in order to inform healthcare providers. In turn, this helps patients by connecting them to health services they trust, and helps providers develop loyal customers.
“America is multicultural, but healthcare isn’t. We are on a mission to change that. Our underserved communities need and deserve greater engagement and access to healthcare designed and delivered with them in mind,” CEO and founder Abner Mason said in a statement. “I’m grateful to have investors who share our vision to make healthcare work for everyone who calls this country home.”
ConsejoSano’s annual recurring revenue grew 400 percent from 2019 to 2020. It also saw interactions between patients and healthcare providers on its platform grow 340 percent this year. In the last few months alone, the company was able to power over 50,000 telemedicine appointments for low-income patients on Medicare and Medicaid.
The company currently helps 1.5 million patients across 12 states, and is used by four of the top five managed healthcare plans in the country. Its platform currently operates in 25 languages.
