We’re quite excited to announce that Omada Health, a diabetes prevention startup co-founded by our very own Sean Duffy, managed to raise $4.7 million in its initial Series A funding round. The company’s product, Prevent, is a 16 week online course closely modeled on the Diabetes Prevention Program (DPP), an NIH-sponsored randomized clinical trial that demonstrated a significant reduction in the development of diabetes among the participants.
The fundraising was led by U.S. Venture Partners (USVP) with participation from The Vertical Group, Founder Collective, NEA, TriplePoint Capital, Kapor Capital, as well as angel investors. The moneys will help Omada’s efforts to commercialize Prevent and to move the company into addressing other diseases besides diabetes.
“Our latest round of funding shows the continued investor confidence in Omada Health and the tremendous market opportunity for evidence-based, thoughtfully designed digital health products to help reduce the risk of devastating and costly diseases,” said Sean Duffy, CEO of Omada Health.
“Omada Heath has the opportunity to transform the way our health system prevents and treats obesity-related chronic disease,” said Jonathan Root, MD, General Partner at USVP. “Omada’s first product, Prevent, is based on landmark clinical research sponsored by the National Institutes of Health (NIH) and the Centers for Disease Control (CDC) and has the potential to impact millions via the web. Prevent provides a major contribution to improving the health of a large at risk population while simultaneously reducing the soaring economic costs of the diabetes epidemic.”
Link: Omada Health…