The digital health company has built an ecosystem for medical doctors by curating the best resources for them.
TonicApp has recently graduated from TheVentureCity’s Growth Program. In her pursuit to change the health industry and grow internationally, Daniela Sexias, CEO of Tonic App and an MBA and M.D. herself, has taken full advantage of TheVentureCity’s acceleration model. The six-month Growth Program prepares diverse founders for global impact by investing $100k and a full-time team of experts who work intensively with the selected startups in exchange for 6% of the company. The program focuses on three main areas of growth: Product, Engineering and Data.
Daniela Seixas, CEO of TonicApp, joined by her team at TheVentureCity´s Madrid office.
Daniela, like many others, was a bit wary of acceleration programs at first. She shared with us: “Sometimes accelerator programs don’t add that much value to the company. After working with TheVentureCity, my perspective changed. I would say that this is the thing that surprised me the most, just how impactful the program would be on our day to day metrics and mindset. It brought much value to the company and is something I would definitely do again.”
So, what specific metrics were impacted during the program?
- TonicApp increased month over month retention from 30% to 55%
- TonicApp reduced the mean time to activation more than 3 times
- They increased weekly active users by 24%
- They reduced the drop-off rate at registration by 10%
Beyond the TheVentureCity team helping to establish critical OKRs, TonicApp, based in Portugal, also enjoyed having the co-working space available to them in Madrid. Daniela commented: “being remote is part of the international nature of TheVentureCity . It enables you to have access to the best talent. It worked out beautifully because we were able to take the most out of the program. It was the easy and efficient for us.” Madrid acted as another launching point as they started expanding into Spain. TonicApp now has more than a quarter of all medical doctors in Portugal and is entering the Spain, France and UK markets.
TheVentureCity team has seen the great strides TonicApp has made throughout the Growth Program. Andrés Dancausa, VP of the Growth Accelerator EMEA, commented “we are extremely proud of the work that Daniela is doing with TonicApp and know that with her undeniable energy, she will bring TonicApp even further.”
Reverse pitch with the epic TonicApp team.
"What was Daniela’s favorite part of the program? “Well, the people, always the people. Both the knowledge they have and the support they provide us while always being available. You can have support for what you are doing in the program, some things that are actually outside of the program for example, we were fundraising during these six months. We received amazing support from everyone — from Laura, Andy, Andrés.”
Moving forward, Daniela plans to keep the focus on data and continuing to work on what they learned in the program. They will focus on recruiting the best talent and scaling fast across geographies. We know there is much more to come from this ambitious team! Go TonicApp!