Sanofi Ventures Joins $73M Series D Round for Digital Health Company Omada Health

VCBeat (WeChat ID: vcbeat) learned from foreign media that on June 26, U.S. local time, healthcare technology company Omada Health completed a $73 million Series D financing round. The funds from this round will be used to support the company in expanding its digital care programs to address chronic conditions such as type 2 diabetes, hypertension, and depression.

It is reported that this round of financing was led by Wellington Management, with participation from Cigna Ventures, Andreessen Horowitz, Norwest Venture Partners, Sanofi Ventures, and others.

Omada Health, founded in 2011 and headquartered in California, USA, is a healthcare technology company dedicated to addressing patient health issues. Currently, Omada Health is developing a digital care program to help customers improve their health.

Omada Health has launched health partnership programs with more than 600 companies across all 50 U.S. states, providing patients with personalized healthcare services. Through this initiative, the Omada Health platform assigns a dedicated team of healthcare professionals to each client, tailoring care plans based on their individual health status. These plans encompass disease prevention, healthy eating guidance, chronic disease management, and treatment for depression.

Sean Duffy, CEO and Co-Founder of Omada Health, stated, “Digital health services are flourishing, and we believe in the growth potential of this sector. Chronic conditions, such as depression, are prevalent among the modern urban population. We aim to help patients manage these conditions through evidence-based care via our digital care platform.”

Wellington Management, founded in 1970 and headquartered in Massachusetts, USA, is one of the largest private independent investment management firms globally, serving clients in more than 50 countries worldwide. The company specializes in investment management, with investment strategies encompassing global equity investments, fixed-income investments, currency investments, commodity investment funds, and alternative investments. It also provides asset allocation, multi-manager solutions, and specialized management services to its portfolio companies and clients.

Cigna Ventures, headquartered in Connecticut, USA, is the corporate venture capital arm of Cigna. Cigna Ventures is dedicated to investing in healthcare startups, with the aim of fostering the development of the medical industry.

Andreessen Horowitz is a venture capital firm headquartered in Silicon Valley, managing $2.7 billion in capital and focusing on early-stage, growth-stage, and late-stage investments. The firm primarily invests in sectors such as software, backend infrastructure, internet infrastructure, cloud computing, enterprise software, mobile internet, data storage, and life sciences, having completed 697 investments to date.

Norwest Venture Partners, founded in 1961 and headquartered in California, USA, is a multi-stage investment firm managing over $7.5 billion in capital, with a focus on the consumer, enterprise, and healthcare sectors.

Sanofi Ventures is the corporate venture capital arm of Sanofi, headquartered in Cambridge, Massachusetts. The firm focuses on investing in the healthcare sector, including rare diseases, oncology, vaccines, immunology, neurology, diabetes, and cardiovascular disease treatments.

(Compiled by Liu Yujing)