Here's the pitch deck that the buzzy healthcare startup Voro used to raise a $2.5 million seed round led by an early Twitter investor

October 8, 2019

This article was originally published on Business Insider's website. Click here to view the original article by Zachary Tracer.

Voro's website lets people ask for help finding a doctor.
  • The startup Voro lets people ask their friends for doctor recommendations
  • Over time, the startup wants to add more data on doctors to help people pick the rght clinician
  • Voro just raised $2.5 million in a seed round led by floodgate
  • Read on to see the full pitch deck that Voro used to raise the funds
  • Click here for more BI Prime stories.

Tomas Hoyos knows how hard it can be to find the right doctor.

That's why, in 2016, he helped start a company that wants to make it easier.

Voro calls itself a healthcare social network. It's designed to let people ask their friends for doctor recommendations and then help them sift through reviews and book an appointment. Over time, Hoyos said, he wants to add more data on doctors to help people pick the right clinician.

"Everyone's been through this where all you want is to find a doctor you trust," Hoyos said. "And you just want recommendations from people you know."
Voro's founders, Tomas Hoyos and Drew Tunney

Voro just raised a $2.5 million seed round from investors led by the tech venture-capital firm Floodgate, an early Twitter investor. Several people with healthcare experience also invested, including Vivek Garipalli, the CEO and founder of the startup insurer Clover Health; and Zach Weinberg and Nat Turner, the cofounders of Flatiron Health.

Hoyos said Voro planned to use the money to hire software engineers, build a mobile app, and keep expanding the service.

Eventually, Hoyos hopes to get employers and insurers to provide information on doctors' quality and how much they cost to its users. Then, if people use that data to pick lower-cost or higher-quality doctors, Voro will profit by taking a cut of the money that saves for the insurer or employer.

Voro faces a lot of competition in the doctor-search business. Sites like Zocdoc already help users find doctors who take their insurance, with the ability to read reviews and book appointments. Rivals including Yelp, Vitals, and Healthgrades all host reviews as well. Health systems, too, are trying to make it easier for patients to book visits directly.

Hoyos said Voro hoped to stand apart as a social network. He said he thought people wanted doctor recommendations from people they knew.

"The reason that Voro is special is that it's a network," he said.

Read on to see the full pitch deck Voro used to raise its seed round.

Voro calls itself a healthcare social network.

People typically link their Facebook account to Voro, so they can ask their friends for healthcare advice.

People can find doctors on lots of websites right now, so it may be hard for Voro to stand out.

Voro says its emphasis on drawing on a user's existing network helps set it apart.

The company has more than 50,000 users, and it told investors it's growing quickly.

While it's still early, Voro says a lot of its members are using the site to find doctors.

One surprising fact: 90% of the company's users are women.

People can join groups on Voro based on things like where they live or what diseases they have.

Right now, many of Voro's users are located in the New York City area, Hoyos said.

Voro faces a tough competitive landscape, as there are already a lot of social networks and plenty of sites dedicated to finding and reviewing doctors.

Voro hopes to make money by helping people pick higher-quality or lower-cost doctors.

Voro's cofounders are childhood friends from Greenwich, Connecticut.

Nick DiPreta

As a lifelong techie and video game enthusiast, I love anything that leverages technology in a creative way.

I have experience with a lot of different webapps and softwares; some of which I've used in rather unconventional ways. Right now I use my technical ability as a Growth Specialist at Voro. On a daily basis I'll use a dozen different Amazon EC2 instances, do some keyword research, conduct Data Analysis for user growth, and blog. I'm constantly thinking about ways to reach new people!

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