Softbank leads $127 million funding round for Brazilian healthcare startup Alice

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FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo

SAO PAULO – Brazilian healthcare startup Alice has raised $127 million in its series C funding round led by Softbank Latin America Fund, the company said on Tuesday.

Other investors include shareholders Kaszek Ventures and ThornTree Capital Partners and new investors such as Allen & Company LLC, G Squared, Globo Ventures and StepStone.

Other shareholders in Alice include Canary, Endeavor Catalyst e Maya Capital.

Alice did not disclose its valuation in the round. CEO and co-founder André Florence said the funds will be used to invest in technology and services to companies interested in providing healthcare to employees.

Paolo Passoni, director at Softbank Latin America Fund, said less than 25% of Brazilians have access to private healthcare and Alice is one of the companies trying to tackle the healthcare problems.

The startup, focused in the Sao Paulo metropolitan area, provides healthcare to around 6,000 people and has 10 hospitals and 200 medical labs as partners. Alice recently acquired startup Cuidas, focused in providing healthcare products to companies.

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(Reporting by Tatiana Bautzer; Editing by Mark Potter)