On June 2, 2023, Sami, a Brazilian insurtech and primary care start-up, raised $18 million in Series B funding led by Redpoint Ventures and Mundi Ventures. Though Brazil offers universal healthcare, about 25 percent of its population seek out private insurance in hope of better and faster care. Sami lowers the cost of care because it is both the primary health care provider and the insurance company, says CEO Guilherme Berardo. "The way we make money is by lowering the hospital admission rates through better clinical intervention," he says. About 95 percent of Sami's primary care work happens digitally—via text messages or video calls or through the app. The company has about 18,000 users and has raised about $53 million from investors including Monashees and Valor Capital.
Wilson Sonsini Goodrich & Rosati represented Sami Health in the transaction. The Wilson Sonsini team was led by Matt Squires, Cesar Fischer, Luis Fortuño, and Nabiila Hendryani-Soehedi.
For more information, please see Axios' news coverage of the transaction.