Digital Health Startup Omada Snags Another $seventy three Million in Funding

by Micheal Quinn

Hello and happy hump day, readers.

Sean Duffy, the co-founder and chief govt at digital health upstart Omada Health, approached the agency’s new $73 million investment spherical with a philosophical question: “What will healthcare transport seem like in two decades? How must it appearance?”

Duffy’s firm has taken a decidedly digital method to the commercial enterprise of diabetes prevention and preservation, growing an online platform that links patients to on line coaches with the assist of scientific biometrics communicated through connected gadgets. The brand new funding round changed into led via Wellington Management and joined using a host of huge names from Kaiser Permanente Ventures to Andreessen Horowitz. CNBC reviews that Omada’s general VC haul now brings it to approximately a $six hundred million valuation, or more than halfway to “unicorn” popularity.

But Duffy’s vision, to borrow an entirely overused period, is to make the corporation a real disruptor thru the usage of a smooth era and for my part tailor-made recommendation for patients—he even goes to date as to mention the biggest and simplest fitness care vendors of the future might be virtual ones.

“Digital care way providing holistic, preemptive aid to avoid the adverse outcome within the first location, instilling small modifications that add up to powerful—and lasting—profits in fitness,” wrote Duffy in a publish on Wednesday. “That’s our vision for Omada, and for healthcare: human-centred, elegantly designed digital stories for sufferers. We can growth get entry to to life-altering care, improve outcomes, and decrease expenses. We’re keen to assist millions of human beings of their journeys to lifelong fitness, one step at a time. In quick, it’s time to build the healthcare provider for the twenty-first Century.”

As I stated in Fortune‘s July difficulty, virtual health corporations loved a report $eight.1 billion in venture funding in 2018. The money doesn’t appear to be going away anytime soon.
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