Omada Health, which provides a digital program based on the landmark NIH diabetes prevention study, raised $48 million, bringing total funding to $77.5 million. The series C round was led by Norwest Venture Partners, and includes returning investors Andreessen Horowitz and US Venture Partners, among others. Accelerator-turned venture fund Rock Health which nurtured Omada in its first class of digital health startups, also reinvested.
In a significant vote of confidence, two of Omada’s customers, Humana HUM -2.29% and Providence Health & Services also joined the round. The two health plans started offering Omada’s Prevent program less than a year ago to their employees and members. Those who enrolled registered a weight loss of 4% to 6%. “It’s one if the key reasons that sparked their interest; they were thrilled with the results,” says Omada’s co-founder and CEO Sean Duffy. (Kaiser Permanente is another customer/investor.)
Participants who are at risk of developing diabetes enroll in a 16-week program that focuses on healthy eating and exercise. They are placed in groups of 10 to 12, based on age, body mass index (BMI) and residence, and work with a “health coach” who tracks their progress and lends extra support. After completing Prevent, participants can continue to receive support.
Read More: http://www.forbes.com/sites/zinamoukheiber/2015/09/16/omada-health-which-pioneered-digital-therapeutics-raises-48-million-in-series-c-round/#264f592f59a7
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