Cathay Innovation Invests in $10M Seed Round of Clivi to Build the Future of Digital Clinics and Diabetes Care Management in Latam
June 27, 2023
Clivi secured a $10M USD seed round co-lead by Dalus Capital & Foundation Capital, joined by an esteemed group of investors such as Cathay Innovation (via its C. Entrepreneurs fund), Femsa Ventures, Quiet Capital, 500, Next Billion Ventures and Conexo. Additional funding was provided by the following angel investors: Ricardo Weder ( CEO & Founder of Jüsto ), Adalberto Flores (Founder & CEO of Kueski), Suresh Batch (Co-founder Trust Networks), Ariel Lambrecht (Founder and CEO of 99 & Mara), Tara Syed (Sr. Commerce Director in Meta), Vicente Aristegui, and Juan Moctezuma (Co-founders of Reina Madre).
- Clivi is cracking the $1 trillion USD health services market in LatAm by delivering a digital clinic solution focused on managing diabetes as a disease – impacting people’s lives by reducing A1C by -2.4%, thus extending their life expectancy by 4+ years!
- It is founded by an experienced team in growing top-line health businesses. Clivi is taking a full-stack, AI-driven approach to building the future of digital clinics.
- Over the next two decades, the global population living with diabetes is projected to surpass one billion. In light of this significant challenge, Clivi has set an ambitious target to serve one million people within the next five years.
- Clivi will use the funds to finish the product using AI as a main driver to help doctors to set proper treatments for patients and monitor thousands of patients more efficiently than traditional clinics. Moreover, Clivi wants to dominate the Mexican market and become the number one diabetes clinic in Mexico within the next year.
“A great difference between a good and a great opportunity resides in the experience of Clivi’s founding team, which in the past have worked together solving a relevant, challenging problem,” said Rodolfo Gonzalez, General Partner at Foundation Capital. “Obesity rates in Mexico have surpassed those in the United States and diabetes is becoming a problem of great magnitude. People living with diabetes in Mexico frequently confront poorer results than people in developed economies, the opportunity to revert this trend is enormous”.
“For years, we had been waiting for the right opportunity to invest in this sector. Access to health in Mexico and LatAm demands an urgent transformation; we see in Clivi a great opportunity to impact people’s lives at scale,” said Rogelio de los Santos, Founding Managing Partner at Dalus Capital.
“We are very excited about this investment round which will enable us to deliver our platform to more people, health doesn’t wait,” said Ricardo Moguel, CEO of Clivi. “Our objective is to simplify the process needed to care for diabetes and deliver a first-level treatment to those that are more in need, using technology by focusing on improving our patients’ lives.”
Clivi’s founding team was formed by Ricardo Moguel (Founder & CEO), who previously helped to build a healthcare unicorn in LatAm, Kyle Jernigan ( CTO ), a proven CTO with an exit in his career and comes from a medical family in the USA, Bruno Garza (COO), an engineer and experienced operator in several industries in LatAm starting from scratch, and Dr. Bernardo Diaz, one of the most prominent endocrinologists of Mexico. The team is a rare find in the health-tech ecosystem since they possess a combination of experience in business, science, medicine, and engineering to build cutting-edge products.
- Clivis’s mission is to simplify diabetes care management and to give people access to healthcare.
- Clivi stands as Mexico’s first fully digital clinic dedicated to diabetes management. Through its state-of-the-art digital platform, Clivi delivers comprehensive, convenient, and personalized care to patients living with Diabetes and helps them to extend their lives.
- Clivis’s vision is to build a new generation of digital clinics for chronic diseases with the goal to serve one million people in the next five years.
- Comprehensive solution: The future of health services is centered around building a comprehensive solution that combines science, technology (AI), and accessibility to empower patients in achieving treatment adherence and transformative lifestyle changes.
- 24×7 support: Ensures that patients are never alone on their journey. Clivi is dedicated to assisting patients at every step, providing the necessary guidance and encouragement they need.
- Zero friction: Clivi seamlessly integrates with their daily communication channels, such as WhatsApp, allowing easy access to the full treatment plan. This user-friendly approach simplifies the treatment process and enhances adherence.
- Accessible: Accessing treatment should never be an obstacle. The aim is to make the treatment experience joyful and straightforward for patients, regardless of factors like cost or geographic location.
- Impactful: Health outcomes is a core focus. A remarkable 94% of Clivi customers achieve diabetes control within six months. This success empowers patients to lead healthier and more joyful lives.
Diabetes is a disease that affects millions of people in Mexico and is the number one cause of death of women in Mexico. Clivi is committed to guiding its patients toward a healthy and fulfilling life. “This investment will help us accelerate and lead the transformation of medical attention in the country,” added Ricardo Moguel, CEO of Clivi.