Surprise Surprise – as mentioned in last week’s edition, I will start a new series called “Startups to Watch”. It will be sent out every other Wednesday – and it basically addresses the overload of questions on good founders/companies to watch I get on a daily basis 😊
This series will be dedicated to very early stage startups that are under the radar – and have a good story to tell. The basic criteria is a company that is not on the media/spotlight and is NOT actively raising proceeds. There is also no bias – apart from the fact that I like the story. I am not an investor or get any financial compensation to promote startups featured. This is intended for informational purposes only, using my solid base of subscribers to share intel of good people doing cool things.
Hope you like it – feedbacks are most welcome!
Closecare: Intelligent document workflow platform to bridge the gaps between analog and digital worlds.
Business overview: Closecare is a SaaS platform that helps companies collect documents and structured data, automate workflows and share information with multiple stakeholders. We started this mission helping HR teams to collect and process their employees' sick day reimbursements documents (legal requirement), which amounts to US$ 8B / year for companies and lots of manual tasks and frauds!
What problem is it solving? Every organization faces the challenge of accessing data trapped in analog and unstructured formats, distributed in a bunch of different pipelines softwares and / or in still in paper. Closecare is an online SaaS platform that helps companies collect physical documents, automate workflows and share information with multiple stakeholders.
The platform:
Step 1 - Data Collection:
Our mobile platform allows employees to digitize and send documents through their smartphone
Step 2 - Data Processing:
Closecare’s AI (i) validates this information based on different legal and / or business demands and (ii) automates workflow process for each different document type
Step 3 – Data Sharing:
Our platform makes it easy to share information with multiple stakeholders like lawyers, healthcare brokers and accountant and with multiple business softwares like payroll, ERP and other platforms.
Key Metrics:
300% of MRR growth in 2022;
35% of customers´ total employee base are MAU (employees sending documents every month);
300k documents collected LTM;
45x LTV / CAC;
Real Use Case:
Closecare prevented Grupo Atma (15k employees) from wasting USD 1.2MM / year in paying wrong reimbursements demands by automatically validating 6k monthly documents.
Main clients:
Burger King: 15k employees
Prosegur: 19k employees
LIQ: 15k employees
Iron Mountain: 2k employees
Team:
Total amount raised (USD): ~USD 850k
Main investors: Domo, Bossanova, Greenrock and angels
For those who want to track healthtechs and digital health rounds and deals I have a weekly newsletter: The Week In Digital Health thiagojulio.substack.com
Que iniciativa bacana, parabéns!