What You Should Know:
– Vida Health, a personalized virtual care platform for physical and behavioral health, today announced it has raised $110M led by General Atlantic and global insurance giants Centene, and AXA Venture Partners. Returning investors include Ally Bridge Group, Yahoo founder Jerry Yang’s AME Cloud Ventures, Aspect Ventures, Canvas Ventures, Guidewell, NGP Capital, and Workday Ventures.
– Centene’s investment in Vida follows its successful 20-state deployment of Vida for its health insurance marketplace product, Ambetter, addressing members with chronic conditions. Many of the Centene members enrolled in Vida are being treated simultaneously for both physical ailments — like diabetes, high blood pressure, and obesity — and mental health ailments — like depression, stress, and anxiety. The company will use this new funding to continue expanding its network of providers, deepen its machine learning capabilities, and broaden its commercial efforts.
Virtual Care Platform Approach to Whole Health Treatment
Founded in 2014, Vida Health is a virtual care platform intentionally designed to treat a person’s whole health by treating mental and physical conditions, together. Vida’s clinically validated approach combines an AI-powered, personalized experience with the support and human connection of coaches and therapists. Vida’s app offers video sessions, messaging, and digital content to help people prevent, manage, and reverse chronic conditions — like diabetes and hypertension — and the mental conditions that accompany them — like stress, depression, and anxiety.
Vida’s unique approach is designed to integrate mental and physical care into one experience, enabling the company to deliver care to more patients and achieve stronger outcomes at a lower cost. Each patient’s experience is tailored to them through a personalized care team of one or more licensed healthcare providers who are supplemented by machine learning that draws on data from medical and pharmacy claims, labs, devices, biometric data, and member-reported sources. By infusing cognitive behavioral science throughout the experience, Vida drives long-term behavior changes that address the root causes behind each condition.
Two of the most used products on the Vida platform help treat Type 2 Diabetes and mental health. There are more than 400,000 people with diabetes who currently have access to Vida’s services. A new study, recently accepted by JMIR shows that the Vida Health diabetes program was effective in reducing HbA1c to values that were significantly lower than the pre-enrollment baseline. The company has historically seen, on average, a 1.5-2 point reduction in A1C for those members.
Vida has more than tripled its revenue since the beginning of 2020 and expanded its existing nationwide network of therapists, coaches, dietitians, and diabetes educators by more than 400%. In that time, the company became the first major virtual chronic care platform in the U.S. to launch a complete, full-stack Spanish experience. Vida’s clients include employers like Boeing, Visa, Cisco, and eBay, along with some of the country’s largest health plans like Centene, Humana, and Blue Cross Blue Shield plans.
Additionally, with a 6000% increase in therapy sessions in Vida last year, mental health has had a big impact on Vida’s growth, and the company will continue to focus on expanding its mental health capabilities. Vida has multiple published studies demonstrating its efficacy in treating mental health ailments like depression and anxiety. In one JMIR study set for publication this summer, results show that 83% of participants reduce their depression or anxiety within 12 weeks of using Vida.