Health services provider Cigna led a $50m round for US-based behavioural medicine developer Omada Health on Wednesday that included health insurer Humana and fellow corporates Sanofi, General Electric, Kaiser Permanente and Providence Health & Services.
US Venture Partners, Andreessen Horowitz, Norwest Venture Partners (NVP), Civilization Ventures and DRX Capital, the digital health-focused fund formed by pharmaceutical company Novartis and wireless technology provider Qualcomm, also invested.
Pharmaceutical firm Sanofi, industrial product maker General Electric and care providers Kaiser Permanente and Providence took part through their corporate venturing units: Sanofi Genzyme BioVentures, GE Ventures, Kaiser Permanente Ventures and Providence Ventures.
Omada provides digital technology that helps patients modify their behaviour to help them deal with chronic conditions such as heart disease and type 2 diabetes.
The company already has a commercial partnership with Cigna, and that collaboration will now be expanded, meaning members of health plans administered by Cigna will get access to Omada’s behavioural counselling platform for no extra charge.
Sean Duffy, CEO of Omada, said: “We love when our commercial partners invest, and Cigna’s lead on this fundraising round is further validation that Omada’s behaviour change approach to chronic disease prevention is driving real results in the real world.
“We look forward to working with the Cigna leadership to deliver personalised, adaptable chronic disease prevention to their membership.”
The round took Omada’s overall funding to approximately $127m, and follows a $48m series C round in 2015 that was led by NVP and backed by GE Ventures, DRX Capital, Humana, Providence Health & Services,US Venture Partners and Andreessen Horowitz
Andreessen Horowitz led the company’s $23m series B round in 2014 with backing from Kaiser Permanente Ventures, US Venture Partners and Vertical Group. Omada’s earlier investors include New Enterprise Associates, Aberdare Ventures, Kapor Capital, TriplePoint Capital and Rock Health.