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Vida Health, a virtual chronic condition care platform, announced today it has raised $110 million in its Series D funding round led by General Atlantic, Centene and AXA Venture Partners.
Additional support was provided by Ardea Partners, Ally Bridge Group, AME Cloud Ventures, Aspect Ventures, Canvas Ventures, Guidewell, NGP Capital and Workday Ventures.
WHAT IT DOES
Vida Health’s digital platform connects users with a personal health coach who guides them through their desired program. The app offers a range of plans for a number of physical and behavioral chronic conditions, including diabetes management, weight loss and mental health support.
Users’ health coaches tailor their programs based on data gathered through pharmacy claims, labs, devices, biometric data and other member-reported sources.
In studies, Vida Health was able to help users with Type 2 diabetes reduce their HbA1c levels by up to 1.44 points at follow-up. The app also aided 83% of the participants in reducing their stress scores after 12 weeks, according to a preprint JMIR study set for publication this summer.
WHAT IT’S FOR
The company plans to put the new funding into growing its network of health coaches by adding new clinicians, mental health specialists and dieticians. It will also help improve the platform’s machine learning capabilities and support Vida Health’s commercial efforts, according to the announcement.
Today’s raise builds on Vida Health’s $25 million round from last year.
Vida Health is far from being the only digital health company targeting chronic conditions.
A heavy hitter in the space, Livongo was absorbed last year by Teladoc in an $18.5 billion merger. Welldoc and Onduo, two companies known for their diabetes management platforms, both recently deepened their chronic care offerings.
ON THE RECORD
“Our mission is vast but simple: transform the lives of millions of people suffering from chronic mental and physical conditions,” Stephanie Tilenius, Vida Health’s founder and CEO, said in a statement.
“This new capital accelerates us toward our goal of impacting the lives of 100 million people globally through reversing the symptoms and costs of chronic disease. We’re thrilled to add marquee healthcare investors to help us scale our company and continue to develop the most efficient and innovative care solutions in the market.”