US-based behavioural medicine developer Omada Health has secured $73m in a round that included subsidiaries of pharmaceutical firm Sanofi and healthcare providers Kaiser Permanente, Providence Health & Services and Cigna.
Sanofi Ventures, Kaiser Permanente Ventures, Providence Ventures and Cigna Ventures were joined by investment firm Wellington Management – which led the round – as well as Andreessen Horowitz, US Venture Partners (USVP), Norwest Venture Partners (NVP) and Civilization Ventures.
Omada markets a behavioural science-driven software platform that helps people with chronic diseases track lifestyle parameters associated with their condition.
Patients are given an internet-connected bathroom scale and assigned a professional coach who provides feedback and support through the software. The platform currently includes digital treatments for type 2 diabetes, prediabetes, high cholesterol and hypertension.
Omada will use the series D capital to expand its support for type 2 diabetes and hypertension, while also progressing treatments for anxiety and depression. The round brought its overall funding to $200m.
Cigna led a $50m round for the company in mid-2017 that featured Sanofi Ventures (then known as Sanofi Genzyme BioVentures), Kaiser Permanente Ventures, Providence Ventures and health insurer Humana.
DRX Capital, the digital health-focused fund formed by pharmaceutical company Novartis and chipmaker Qualcomm, also invested, along with GE Ventures – the corporate venturing arm of industrial product maker General Electric – Civilization Ventures, NVP, Andreessen Horowitz and USVP.
Omada had received $48m of series C funding in 2015 from an NVP-led consortium that included GE Ventures, DRX, Humana, Providence Health & Services, USVP and Andreessen Horowitz. The latter had led Omada’s $23m series B round the previous year with contributions from Kaiser Permanente Ventures, USVP and Vertical Group.
USVP led Omada’s $4.7m series A round in 2013 with participation from Vertical Group, Founder Collective, Aberdare Ventures, New Enterprise Associates (NEA), TriplePoint Capital, Kapor Capital and assorted private investors. The latter three had joined various angel investors to provide $800,000 in 2011.