SEATTLE-(BUSINESS WIRE)–Zócalo Health, a Latin American-based healthcare service designed for Latin American patients, today announced $5 million in seed funding co-led by Animo, Virtue and Vamos Ventures. The round includes other notable investors including Necessary Ventures, Able Partners and angel investors Toyin Ajayi, Freada Kapor Klein, Nikhil Krishnan and Erik Ibarra. The funds will support the company’s launch of virtual primary care services in California, Texas and Washington in 2022, delivering an improved and long-awaited health care experience for Latinos built on trust, community and culture.
Today, more than 60 million Latinos live in the United States, the largest minority group in the nation. By 2050, they will make up more than 30% of the population with 132.8 million people. Despite this growth, the US health care system lacks the products and resources to meet the unique cultural needs of this population. Latinos have disproportionately limited access to primary care, with a ratio of one primary care physician for every five to six thousand residents in predominantly Latino zip codes.
Zócalo Health bridges this gap by providing affordable and accessible primary care that combines tradition with innovation and prioritizes relationships of trust between providers and patients. Services will be offered through monthly and annual memberships that give patients access to a full care team – led by a health promoter (community health worker) and consists of doctors, nurses, mental health therapists and others – as well as same-day appointments and care coordination services focused on the social determinants of health.
“We founded Zócalo Health to embrace the values and traditions of our culture and Latin American identity and make them the heart of the primary care experience. We are transforming health care in this country because we can no longer rely on a one-size-fits-all system filled with inequities,” says Eric Cárdenas, co-founder and CEO of Zócalo Health. “We are relentlessly committed to meeting the needs of the Latino community with urgency and care. We are grateful to our team and our investors who understand the importance of leveraging innovation while maintaining culture and tradition along the way.”
“Our current health care system is failing to work with and respect the identity, needs and preferences of Latinos,” said Marisa Hardin, co-founder and chief strategy and operations officer at Zócalo Health. “Working in health care my entire career, I didn’t see people who looked like me making health care decisions for my community. With our experience and network, we have the opportunity to build something better for our own families and Latino communities across the country, setting an example that if the system is not changing, then we must be that change.”
Zócalo Health is led by various entrepreneurs who are shaking up the startup scene. Less than 1% of funds from the top 25 venture and venture capital firms end up in the hands of Latin American founders. Latino startup funding makes up roughly 2% of total startup investment. And only 13% of venture capital dollars go to startups with a woman on the founding team.
“Our team at VamosVentures sees tremendous promise in what Zócalo Health is building,” said Xavier del Rosario, a partner at the venture capital firm. “We believe in a future where diverse leaders have access to resources to support their communities, and we are confident that the team behind Zócalo Health is paving the way for that future.”
Zócalo Health launched services in California and Texas this National Hispanic Heritage Month and plans to expand to other states in 2022 and beyond. To learn more about Zócalo Health’s mission and services, visit zocalo.health.
About Zócalo Health
Zócalo Health is a Latino-based virtual family medicine service designed for Latino patients. We break down barriers to healthcare by offering convenient, transparent and culturally appropriate care to our members. Our services include same-day virtual healthcare appointments and navigation assistance for a monthly fee. Zócalo Health is available to individuals living in California.