This Entrepreneur Raised Over $60 Million To Build A Digital Health Platform Providing Improved Access To Telemedicine Solutions in Brazil

Guilherme Weigert’s story is one of remarkable transitions—from growing up in Rio de Janeiro to founding successful companies reshaping the healthcare landscape in Latin America.

Guilherme’s journey, which took him from medicine to tech entrepreneurship, offers a unique perspective on the challenges of building, scaling, financing, and eventually exiting businesses in emerging markets like Brazil.

In this riveting interview, Guilherme talks about pivoting, driving a company from growth to profitability, and navigating the ups and downs of building a business.

Listen to the full podcast episode and review the transcript here.

Roots in Rio de Janeiro: A Blend of Medicine and Technology

Born into a unique family environment in Rio de Janeiro, Brazil, Guilherme’s career was influenced by his parents—his father, a physician, and his mother, a tech developer. His exposure to healthcare and technology from an early age would prove instrumental in shaping his future.

Though Guilherme initially pursued medicine, inspired by his father’s dedication to helping people, he was always drawn to the world of technology. He also took an exam for the tech developer system in Brazil. Despite starting medical school, his entrepreneurial instincts surfaced early.

During his time at the university, Guilherme spearheaded the creation of sports leagues, building a community that connected medical students outside the classroom. This experience, blending organization with impact, gave him his first taste of entrepreneurship.

Jaleko: Revolutionizing Medical Education

As he neared the end of his medical studies, Guilherme noticed a shift in how students were learning. They had big books with 2,000 pages and more, but students relied on YouTube tutorial videos to learn the steps.

That’s when Guilherme recognized opportunities to create a medical education platform, which led to the co-founding of Jaleko. This platform revolutionized medical education by offering a Netflix-style experience tailored to medical students.

The platform was a hit, quickly reaching over 200,000 medical students. Jaleko transformed how students prepared for their careers, offering a more engaging and modern learning method. Students quickly transitioned from the first to the last degree of university graduation.

However, the competitive landscape of the medical education sector forced Guilherme to make a critical decision—either raise significant capital to compete with companies focusing on lifelong learning for doctors or sell Jaleko while concentrating on the student market.

Ultimately, Guilherme and his co-founders decided to sell Jaleko to Plus A Education for $8M. This strategic move allowed the acquiring company to leverage Jaleko’s strong presence with students and expand its offering to doctors and medical students in residency programs.

Guilherme was not involved in the company’s operational aspects and was content to leave them to the executives and board. One of his co-founders opted to take a more lifelong learning journey approach, so they sold the company.

This exit marked Guilherme’s first major entrepreneurial milestone, but he wasn’t finished yet.

Conexa: Leading the Digital Health Revolution in Brazil

After Jaleko, Guilherme faced a pivotal career decision—to continue in medicine or fully commit to entrepreneurship? By 2017, he chose the latter, founding Conexa, a leading digital health platform aimed at addressing the shortcomings of Brazil’s healthcare system.

With less than 25% of Brazilians having access to private health insurance and widespread dissatisfaction with the public system, Guilherme saw a significant opportunity.

Initially, Conexa started as a primary care clinic, but Guilherme quickly realized the limitations of this model in Brazil. The country lacked a primary care culture because of the lack of regulations to provide telemedicine. Patients often bypassed general practitioners in favor of specialists.

Unlike the US, Brazil does not have health insurance plans, and going to the hospital is not easy. Recognizing this, Guilherme pivoted the business to focus on digital health, creating a platform that offered convenient, efficient telemedicine consultations with improved access and outcomes.

This pivot proved to be a game-changer. Conexa grew rapidly, conducting over 200,000 monthly consultations within three months during the pandemic.

Today, Conexa handles more than 500,000 consultations monthly, serving employers and health insurance providers across Brazil.

The company’s business model revolves around a B2B approach, providing health benefits to employers and creating a network of healthcare professionals for insurance plans. Customers pay Conexa every month, but it also offers a fee-for-service model.

Navigating the Challenges of Scaling and Fundraising

Building a healthcare platform in an emerging market like Brazil came with its own set of challenges, particularly when it came to scaling and fundraising.

Guilherme raised more than $60M for Conexa, beginning with family and friends, doctors, and managers, including the more recent $40M raise from Goldman Sachs in 2022.

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Many of these were involved in the healthcare industry and understood the complexities of Brazil’s system. They loved the new method of consuming healthcare products.

A key early investor was Romeo, chairman of Daza, one of the largest diagnostic companies in Latin America. Romeo’s involvement provided not only financial backing but also critical insights into the healthcare industry’s commercial and operational aspects.

In 2019, Conexa secured its first VC investment from GA, setting the stage for its rapid growth during the pandemic. However, growth came with its own set of challenges. The shift from a growth-at-all-costs mentality to a focus on profitability was particularly difficult.

Like many entrepreneurs, Guilherme had primarily focused on product development and commercial growth. However, as market conditions shifted, especially in the wake of the tech funding crash in 2022, Conexa had to adapt.

The company underwent several strategic adjustments to improve margins and profitability, including layoffs and operational changes. Despite these challenges, Guilherme and his team remained resilient, eventually reaching positive cash flow by the beginning of 2024.

Acquiring Zen Club, a mental health platform, further solidified Conexa’s position as a leader in Brazil’s digital health space. Guilherme reveals how they’ve entered into a second M&A deal.

The Future of Digital Health in Brazil

As Guilherme looks to the future, he sees tremendous potential for digital health in Brazil. Currently, only 3% of consultations in Brazil are conducted digitally, leaving significant room for growth.

At the same time, the changing user mindset has shifted from a reactive, disease-based approach to prevention and wellness. People are looking for lifelong good health, not just seeking care and treatment for diseases and comorbidities. They are also looking for emotional well-being.

He envisions a future where 40-50% of consultations are digital, particularly for low-complexity cases, which would greatly improve access to care for millions of Brazilians.

Lessons Learned: Focus, Patience, and Strategic Thinking

Looking back on his journey, Guilherme reflects on the importance of focus and strategic planning. Early in his entrepreneurial career, he admits to making decisions too quickly, launching new business units without fully considering their long-term viability.

Guilherme now approaches new ventures more cautiously, emphasizing the need for careful planning and clear decision-making. His advice to fellow entrepreneurs is simple but profound:

“Calm down, make clear decisions, and plan more.” Guilherme has learned that growth should not come at the expense of focus and that being strategic about scaling can prevent costly mistakes down the road

Conclusion

Guilherme Weigert’s journey from medical student to tech entrepreneur is a testament to the power of adaptability and resilience.

From building Jaleko to scaling Conexa, he has navigated the complexities of the healthcare system and emerged as a leader in Brazil’s burgeoning digital health sector.

Guilerme’s story inspires entrepreneurs everywhere, reminding us that success often comes from embracing change, learning from mistakes, and always keeping an eye on the bigger picture.

Listen to the full podcast episode to know more, including:

• Guilherme Weigert successfully pivoted Conexa from a clinic model to a digital health platform, fueling rapid growth.
• A blend of medicine and technology in his upbringing laid the foundation for Guilherme’s entrepreneurial ventures.
• Selling Jaleko for $8M allowed Guilherme to focus on larger opportunities in healthcare.
• Securing over $60M for Conexa was possible by nurturing connections with key healthcare and VC players.
• Conexa’s shift toward profitability involved strategic layoffs and operational adjustments.
• Guilherme learned the importance of focus and careful decision-making after early mistakes in scaling too quickly.
• Guilherme envisions 40-50% of Brazil’s consultations becoming digital, enhancing access and efficiency in healthcare.

 

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