US-based weight loss software developer Calibrate secured $100m yesterday in a series B round that included healthcare services provider Optum, through corporate venturing unit Optum Ventures.
Founders Fund and Tiger Global Management co-led the round, with participation from Forerunner Ventures, Redesign Health and Threshold Ventures.
Founded in 2020, Calibrate offers a year-long metabolic reset telemedicine programme to help users shed weight, buoyed by US Food and Drug Administration-approved medication such as recently approved weight management injection Wegovy, along with behaviour therapy and video coaching.
The company had gathered $22.5m in a January 2021 series A round led by Threshold Ventures that also featured Redesign Health and Forerunner Ventures. It came after Forerunner Ventures also led Calibrate’s $5.1m seed round in June 2020, investing with Redesign Health.
Isabelle Kenyon, founder and chief executive of Calibrate, said: “The purpose of this raise as we enter our second year as a business is to use the real results we have driven for our members to meaningfully expand access to Calibrate.
“We will continue to invest in the tools and products to build the most effective experience for our members, while also building out partnerships with the policy makers, insurers and manufacturers who will pioneer the next generation of metabolic health with us.”
Calibrate is projecting revenues of $21m for 2021, between $10m and $12m more than had been expected, according to Kenyon.
