US-based digital behavioural medicine service Omada Health has raised a $48m series C round led by Norwest Venture Partners, the venture capital firm investing on behalf of financial services provider Wells Fargo.
GE Ventures, the corporate venturing subsidiary of conglomerate General Electric; Drx Capital, a joint investment firm set up by pharmaceutical company Novartis and wireless technology producer Qualcomm; health insurance provider Humana; health care system Providence Health & Services and VC firms US Venture Partners and Andreessen Horowitz also contributed funds.
Omada Health offers digital therapy programmes for people at risk of obesity-related chronic conditions such as heart disease and diabetes.
The company will use the series C funding to extent its clinical research, advance its publishing schedule and further develop its flagship product, named Prevent.
Kaiser Permanente Ventures, the investment arm of healthcare company Kaiser Permanente, previously participated in a $23m series B round led by Andreessen Horowitz and including US Venture Partners and Vertical Group.
Omada had previously raised $5.5m in seed and series A funding from investors including New Enterprise Associates, Aberdare Ventures, Kapor Capital, TriplePoint Capital and Rock Health.