knownwell Secures $25 Million in Oversubscribed Funding to Transform Obesity Care

Strategic Insights -

knownwell, a nationwide leader in obesity medicine and weight-inclusive primary care, has announced $25 million in strategic-led financing, marking a significant milestone in its mission to revolutionize healthcare for patients living with obesity. The oversubscribed round was led by CVS Health[R] Ventures, with participation from MassMutual Catalyst Fund, Intermountain Ventures, and others, demonstrating a strong commitment to scaling high-quality care for this underserved population. As knownwell continues to expand its hybrid care offering and deliver exceptional outcomes, the company has attracted key investors and board members, including Oak Street Health co-founder Geoff Price, who brings valuable expertise in value-based healthcare services.

Key Takeaways:

  • knownwell, a nationwide leader in obesity medicine and weight-inclusive primary care, has secured $25 million in oversubscribed funding, bringing its total funding to over $50 million.
  • The round was led by CVS Health[R] Ventures, with participation from MassMutual Catalyst Fund, Intermountain Ventures, and others, as well as continued support from existing investors a16z Bio + Health and Flare Capital Partners.
  • Oak Street Health co-founder Geoff Price has joined the company's board and brings expertise in value-based healthcare services, which will further strengthen knownwell's leadership team.
  • knownwell's comprehensive, physician-led care model has been designed to address the complex needs of patients with obesity, rather than focusing solely on prescriptions or utilization management.
  • The company has consistently delivered best-in-class outcomes, including a 90+ net promoter score, 91 percent one-year patient retention, and 93 percent one-year sustained weight loss.
  • knownwell's hybrid care offering has expanded to Georgia, Illinois, and Texas, and the company has launched virtual care for patients in all 50 states.

Statistics:

  • $25 million: the new funding secured by knownwell in this oversubscribed round.
  • over $50 million: the total funding secured by knownwell to date.
  • 90+: knownwell's net promoter score, indicating high levels of patient satisfaction.
  • 91 percent: the one-year patient retention rate for knownwell's patients.
  • 93 percent: the one-year sustained weight loss rate for knownwell's patients.
  • 18 months: the timeframe during which knownwell has expanded its hybrid care offering to Georgia, Illinois, and Texas, and launched virtual care nationwide.
  • $260 billion: the annual cost of obesity to the US healthcare system.

Sources:

  • Businesswire
  • knownwell press release