Omada Health Raises $23M Series B Led By Andreessen Horowitz For Digital Health That Actually Works

Omada Health, a San Francisco startup that makes digital health therapy programs for people with type 2 diabetes and other serious but potentially treatable issues, has raised $23 million in new funding.

The new investment, which is Omada’s Series B, was led by Andreessen Horowitz, with Andreessen Horowitz partner Balaji Srinivasan joining the startup’s board of directors. Also participating in the round were Kaiser Permanente Ventures and previous investors U.S. Venture Partners and The Vertical Group. This brings the total investment in Omada to $28.5 million.

Omada aims to bridge the gap between proven traditional offline support groups and therapies, and modern digital technology. The behavioral science world has figured out how to help people with issues like diabetes, smoking cessation, insomnia, and the like – but it’s mostly been in face-to-face treatments. Omada has looked at the elements and turned these things into digital programs, and made programmatic experiences that we validate clinically with reproducible results.

Clinical results mean that Omada’s programs are things that insurance providers are actually willing to pay for. Omada’s flagship treatment, called Prevent, is a 16-week web-based program aimed at addressing prediabetes in adults. Because Omada has been able to provide clinical proof that its programs work just as effectively as traditional in-person therapies, they are covered by healthcare providers including Blue Shield Louisiana, Kaiser Permanente, and Stanford Hospital.

The financial reimbursement is what truly sets Omada apart from other consumer-oriented players in the health space. Omada has developed consumer grade digital health products, and we also know how to get health systems to pay for them.

Read the original article written by Colleen Taylor (@loyalelectron): TechCrunch Article

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Learn how Patriot Labs works with health care organizations to bridge the gap between proven traditional offline support groups and therapies, and modern digital technology. Contact us: email | phone 202.643.4766.

About Omada

Omada Health is pioneering a new category of medicine: digital therapeutics. We help people make the changes necessary to reduce their risk for a host of chronic conditions in the most engaging, affordable, and effective way possible. https://omadahealth.com