Weight management platform Calibrate announced a $22.5 million in Series A led by Threshold Ventures, with participation from Forerunner Ventures and Redesign Health.
This comes roughly six months after the company launched with a $5.1 million boost in seed funding from Forerunner.
WHAT IT DOES
HIMSS20 Digital
Calibrate’s goal is to help its users reset their metabolism. Users start the program by getting a workup of labs and having a telemedicine visit with a doctor. The doctor can then prescribe drugs based on the visit and labs.
The program combines telemedicine for behavioral therapy with medication. Each user is matched with a weight coach who can help them change their daily habits to include healthier eating and more exercise.
Users also get a connected smart scale and app to track their weight and daily habits. The program can then be tailored to each individual and small “tweaks” are recommended. The user is given more strategies along the way, according to Calibrate’s website.
WHAT IT’S FOR
The company plans on using the new funds to grow its business.
“This investment will allow us to continue to expand our technology platform, powering the delivery of best-in-class clinical outcomes through compelling consumer product, purpose-built tools for integrated clinical care and coaching, and the data infrastructure for real-world evidence,” Isabelle Kenyon, Founder & CEO at Calibrate, said in a statement.
MARKET SNAPSHOT
It’s no secret that a lot of folks are struggling with weight management. In fact, according to the CDC, the U.S. obesity rate is 42.4%. As a result, many companies are looking at the space.
In January, Weight Watchers released its new immersive digital membership plan called Digital 360, which gives users access to on-demand and live coaching, as well an online community of peers and online events.
Ro, a direct-to-consumer virtual health company, added a new weight-management offering. Its doctors are now able to prescribe Plenity, an ingestible weight-management product.
Other names in the digital dieting space include Loose It!, and Suggestic.