Total amount raised
$427 Millions
Latest funding date
February, 2022
Location
Omada Health has successfully raised significant funding through multiple rounds, attracting a diverse group of investors including Trousdale Ventures and Wellington Management. The company offers a virtual care program designed to help individuals manage chronic conditions such as diabetes, hypertension, and musculoskeletal issues.
Keep reading to explore the intricacies of Omada Health's fundraising journey and the investors backing this innovative platform.
What Is Omada Health?
Omada Health, founded in 2011, is based in San Francisco, California. The company was established by Adrian James, Andrew DiMichele, and Sean Duffy.
Specializing in digital behavioral medicine, Omada Health offers programs to help individuals manage chronic conditions such as diabetes, hypertension, and musculoskeletal issues. Their approach combines professional health coaching, connected health devices, and personalized feedback.
With a workforce of 501-1000 employees, Omada Health continues to innovate in the field of virtual care, aiming to empower individuals to lead healthier lives.
How Much Funding Has Omada Health Raised?
- Seed Round
- Amount Raised: $800K
- Date: December 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Series A
- Amount Raised: $4.7M
- Date: March 2013
- Lead Investors: U.S. Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the digital platform.
- Series B
- Amount Raised: $23M
- Date: April 2014
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and improve customer acquisition strategies.
- Series C
- Amount Raised: $48M
- Date: September 2015
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and expand market reach.
- Series C
- Amount Raised: $50M
- Date: June 2017
- Lead Investors: Cigna
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and enter new markets.
- Series D
- Amount Raised: $73M
- Date: June 2019
- Lead Investors: Wellington Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new technologies.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: October 2019
- Lead Investors: Intermountain Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To form strategic partnerships and enhance service offerings.
- Venture Round
- Amount Raised: $57M
- Date: May 2020
- Lead Investors: Perceptive Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the acquisition of Physera and expand digital health services.
- Series E
- Amount Raised: $192M
- Date: February 2022
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the virtual care platform.
- Debt Financing
- Amount Raised: $80M
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support ongoing projects.
Omada Health has raised a total of $527.5M. The current valuation is not publicly disclosed.
Key Investors
- Wellington Management
- Details: Wellington Management is a private, independent investment management company. It manages over $1 trillion in client assets.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Moderna, Airbnb, Robinhood.
- Fidelity
- Details: Fidelity is a multinational financial services corporation. It offers investment management, retirement planning, and brokerage services.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Uber, SpaceX, Alibaba.
- Perceptive Advisors
- Details: Perceptive Advisors is a hedge fund focused on the healthcare sector. It manages over $9 billion in assets.
- Investment Focus Areas: Biotechnology, pharmaceuticals, medical devices.
- Notable Investments: CRISPR Therapeutics, Moderna, Biohaven Pharmaceuticals.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global venture capital and growth equity investment firm. It has over $9.5 billion in capital under management.
- Investment Focus Areas: Technology, healthcare, business services.
- Notable Investments: Spotify, Uber, BlueJeans.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm. It manages over $16.6 billion in assets.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Facebook, Airbnb, Lyft.
What's Next for Omada Health?
Omada Health stands at the cusp of significant growth opportunities, driven by the increasing demand for digital health solutions. The company is well-positioned to capitalize on the expanding market for virtual care, particularly in managing chronic conditions. This growth potential could attract further investment, enabling Omada Health to scale its operations and enhance its technological capabilities.
Future fundraising efforts are likely to focus on expanding their service offerings and entering new markets. However, the company may face challenges such as regulatory hurdles and competition from other digital health providers. Navigating these obstacles will be crucial for sustaining their growth trajectory and achieving long-term success.
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