This morning digital diabetes coaching platform Fit4D landed another $4 million in funding. The round was led by SJF Ventures, C&B Capital, Esther Dyson, and North Haven Capital, with participation from Blue Cross and Blue Shield of Nebraska and StarUP Health.
The New York City-based startup plans to use the money to continue clinical validation and development of its product.
“We have been continually impressed with the value Fit4D delivers to its clients through its innovative use of human-based empathy and clinical-support scaled by technology,” SJF Ventures Managing Director Cody Nystrom said in a statement. “SJF invests in high-growth companies creating healthier, smarter and cleaner futures and Fit4D is delivering commercial success while also achieving its social mission. For the second year in a row, Fit4D earned the highest impact rating by GIIRS, the Global Impact Investment Rating System, for its innovative business model in successfully solving diabetes-related problems for patients and its clients.”
Fit4D was designed so that diabetes patients could more easily get access to a Certified Diabetes Educator (CDE) for one-on-one coaching. The company markets itself as a scalable way for people to get more personalized coaching, filling in the gaps of traditional care.
The platform employs a team of CDEs with backgrounds as nurses, dietitians, pharmacists, exercise physiologists, and social workers. The platform provides proactive outreach, motivational interviewing, and expert diabetes educational resources. The CDEs also work with patients to set up goals, and then follow up.
According to the company the app has shown to lower HbA1c levels for members, save providers and insurers $380 annually per member, and has a 95 percent member satisfaction score.
In the past the company has teamed up with big names in diabetes. In 2017 it announced a deal with global diabetes data management company Glooko to bring a more data-driven approach to its mobile patient engagement tools.
“Health plans and providers are looking for proven solutions that enable them to succeed in value-based and risk sharing arrangements. Fit4D stands out as a company that is driving a new era of personalized patient engagement, powered by technology, while delivering measurable outcomes for the diabetes population,” Ronnie Goldman, managing director with C&B Capital, said in a statement.
Diabetes coaching apps have been around for a long time in the digital health sector. Livongo, which focuses on chronic condition management including diabetes, is one of the biggest names in the space and has been around since 2014. It is particularly well funded with $240 million in financing.