What You Should Know:
– Omada Health, a chronic care integrated healthcare provider, today announced its $192M in Series E funding round led by Fidelity Management & Research Company with participation from aMoon, existing investors Perceptive Advisors, Wellington Management, Civilization Ventures, and others.
– Omada Health will utilize the funding to accelerate hiring at all levels to meet growing customer demands, a technological roadmap for care and coaching personalization to further improve on delivering better health outcomes, and increase investment in the Omada Insights Lab to unearth the most innovative, cost-effective interventions.
Chronic Disease Tipping Point
The healthcare industry has reached a tipping point when it comes to chronic disease. There are 96 million U.S. adults diagnosed with pre-diabetes and 37.3 million diagnosed with diabetes, 47% of U.S. adults have hypertension and more than 50% struggle with musculoskeletal issues. The time is now for Omada Health’s multi-product platform to address these conditions through its proven, virtual care approach. Omada has been uniquely successful in helping people navigate the complexity of their chronic conditions by focusing on behavior change and insights-driven coaching, across critical clinical areas for employers and health plans.
The company also announced record growth and an expansion of its executive team and Board of Directors with the appointment of Taylor Harris as a new Board member, Nancy Vitale as Chief People Officer and Sunil Kayiti as Chief Technology Officer.
“Omada Health’s mission is to solve the problem of chronic care treatment in the U.S. There are so many inefficiencies in the healthcare system that hinder individuals from truly managing their health,” said Sean Duffy, co-founder and CEO of Omada Health. “With a 10-year track record, Omada’s approach is delivering outcomes that outpace the industry. This latest round of funding not only validates, but accelerates our mission in offering virtual chronic care treatment to millions of people across the U.S. With the support of our investors, Fidelity, aMoon, Civilization Ventures and others, we’re able to better support our customer growth and usher in a new model of care.”