Why we invested in Welbe, a startup fixing occupational health for LaTam

December 2022

Our workplace is evolving and now at a greater pace than ever. By 2050, 45% of the workforce will be over 50 years old with each succeeding generation decreasing in size (AARP In’l, OCED 2020). To keep up with the demands of each generation employers will need to optimize the benefits of a multi-generational workforce. Welbe is a startup that delivers the next generation of occupational health by managing the well-being of a diverse workplace with a single membership.

SVLC is excited to back Welbe alongside Nazca, Volpe, Kortex Ventures, and Green Rock, with previous investors Twenty and various angels such as Diego Libanio (CEO of Mercê do Bairro), and Ricardo Weder (CEO of Justo).

The health and safety of a workplace is often referred to as “occupational health,” which requires “health checks, injury prevention & mitigation to ensure safe work environment by the Labor Department'' (DataMexico.org 2022). Still, over the past few years, occupational health has evolved as a key component of workforce longevity in light of high turnover employers are facing today. For example, COVID-19 led to the loss of  8.8% of global working hours in 2020 alone (In’l Labor Org 2021). And with an average adult spending 50% of their waking hours working; a healthy workplace has become an essential benefit. 

Since its inception in 2021, Welbe will now have more than 250,000 users on its platform by end of the year; starting in Mexico, to comply with 30+ health regulations making it extremely easy for employers to perform annual health checks by providing software that integrates all occupational health needs. In Mexico, the accessibility and quality of healthcare is a major problem; approximately 28% of the population does not have access to public or private health services and ~42% of healthcare expenditure is out-of-pocket (The World Bank, Statista). Welbe’s entry into the workplace opens up an enormous opportunity for employer-supplemented comprehensive primary care and ancillary services such as pharmacy and laboratory testing that are much more competitive and higher quality than the traditional public system healthcare in Mexico. Because of this, companies that work with Welbe have already seen a 27% reduction in workforce turnover for its partnered employers so far this year. 

Eduardo Medeiros (CEO, Welbe) and Marcus Paiva (CTO, Welbe) have built Welbe to be a modular healthcare coordination platform that allows for a diverse mix of employers, providers, and patients/families to access its services.  SVLC is thrilled about the future of Welbe because it is bringing quality primary care services to employees and families who would otherwise have to miss workdays to search for the right doctors at the right price.