This news comes on the heels of its Series E round. The company plans to use the funding to accelerate its technological roadmap for care and coaching personalization. Here are the top-line bullets you need to know.
Omada Health, a digital behavioral medicine company, has raised $192M in a Series E. The round drew participation from aMoon Fund, Wellington Management, dRx Capital, and Fidelity Investments, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Omada Health offers behavioral science-backed programs that help its members manage a variety of chronic conditions, including prediabetes, diabetes, hypertension, and musculoskeletal pain.
- The platform caters to 1.7K+ customers and 550K members.
- Omada Health has access to 18M+ covered lives via its employer and health plan channels — the company added 3.5M covered lives in 2021.
Source: Omada Health
WHY DOES THE MARKET MATTER?
- The global digital health market is expected to reach a value of $426.9B by 2027, growing at a CAGR of 17.4%, according to Global Market Insights.
- In 2021, digital health startups raised $57.2B in total funding, up 79% year-over-year. During the same period, the number of mega-rounds ($100M+) to digital health startups nearly doubled to hit 154.
- The growing need to provide digital solutions and delivery models to patients during the pandemic has contributed to market growth.
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