Omada Health, Which Pioneered Digital Therapeutics, Raises $48 Million In Series C Round

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Omada Health, which provides a digital program based on the landmark NIH diabetes prevention study, raised $48 million, bringing total funding to $77.5 million. The series C round was led by Norwest Venture Partners, and includes returning investors Andreessen Horowitz and US Venture Partners, among others. Accelerator-turned venture fund Rock Health which nurtured Omada in its first class of digital health startups, also reinvested.  In a significant vote of confidence, two of Omada’s customers, Humana and Providence Health & Services also joined the round. The two health plans started offering Omada’s Prevent program less than a year ago to their employees and members. Those who enrolled registered a weight loss of 4% to 6%. “It’s one if the key reasons that sparked their interest; they were thrilled with the results,” says Omada’s co-founder and CEO Sean Duffy. (Kaiser Permanente is another customer/investor.)     According to the Centers for Disease Control and Prevention, one in three adults in the U.S. has higher than normal blood sugar, raising the risk of diabetes. This can be reversed. Data from the 2002 NIH study showed that diabetes can be prevented with lifestyle changes—a healthy diet and exercising.    Omada has also buttressed its program with its own clinical studies—something that more digital health startups should do. In April, it published the results of a two-year study (single arm) in the Journal of Internet Medical Research. Participants registered a 4.7% average weight loss after one year, and maintained a 4.2% average weight loss after two years. 

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