Vida Health, a personalized virtual care platform for physical and behavioral health has raised $30M in Series C funding from strategic investors including GuideWell Mutual Holding Corporation, Teladoc Health, and Workday Ventures. Existing investors from previous rounds also participated.
Impact of Chronic Disease in the U.S.
Sixty percent of adults in the United States have one chronic disease, and 40% have two or more. More than 68% of adults with a mental health condition have at least one physical condition. Forty-three percent of individuals living with depression also have obesity. Individuals with multiple conditions face unique challenges and obstacles that are more than the sum of their parts.
Founded in 2014, Vida has the advantage of getting an early start in treating multiple conditions and diseases at once, addressing the root of the problem for chronic disease with digital therapeutic interventions and sustainable behavioral change. Vida pairs individuals with a human health coach who is an expert in behavior change and knowledgeable in the area of need, whether it’s nutrition, weight loss, fitness, diabetes, stress management or other conditions.
Individuals can talk to their coach in real-time using text, voice or video; access evidenced-based clinical programs such as weight loss, diabetes prevention, hypertension, and exercise programs; connect to a community of support, which can include coaches, family members, friends, other people with similar conditions, and doctors.
GuideWell is a health solutions enterprise and parent to the leading health insurer in Florida Blue. As a part of the partnership, GuideWell’s initial launch of Vida services will focus on members with co-morbidities while measuring cost and quality impact. Vida is also exploring a partnership with GuideWell Connect, a GuideWell subsidiary, on joint opportunities with existing and new health plan clients.
Since the last round of funding, Vida has launched an updated platform for enterprise customers, which features targeted solutions for both behavioral and physical conditions including anxiety, asthma, COPD, depression, diabetes, hypertension, hyperlipidemia, pre-diabetes, among others.
Vida Health is currently deployed by Fortune 1000 employers and healthcare companies. Some customers include Avalon Bay, eBay, PayPal, Steelcase, FICO, Cisco, Visa, Veterans Affairs, MD Anderson Cancer Center, Aurora Health Care and Partners Healthcare.
This company plans to use the latest round of funding towards funding sales and marketing and expanding Vida’s national coaching and therapy network, enabling the company to reach more customers in a time when chronic disease is at an all-time high.
“When we first started looking for a partner for our commercial insurance business, we knew we needed something that could address the needs of our entire population without losing the ability to personalize solutions,” said Pat Geraghty, president and CEO of GuideWell and its health insurance company, Florida Blue. “Vida Health fits the bill as a virtual care platform for chronic disease management that combines both the human touch and the technology to scale. We’re very pleased to find a team that shares our values of care and we look forward to rolling it out.”