Frumtak Ventures leads investment in health-behavior change platform SidekickHealth

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Frumtak Ventures leads round in SidekickHealth. Health-behavior change platform SidekickHealth uses behavioral economics, artificial intelligence and gaming technology to predict, manage and prevent chronic diseases such as prediabetes and type-2 diabetes.

SidekickHealth behavior-change platform for prevention of chronic lifestyle diseases
SidekickHealth offers an opportunity to positively impact the wellbeing of employees and patients while also reducing health-related overhead for enterprise companies and organizations globally," said Eggert Claessen, Managing Partner, Frumtak Ventures.

Frumtak Ventures today announced an investment in Goodlifeme AB., makers of SidekickHealth. The $1.5 million round was led by Frumtak Ventures and included existing shareholders. SidekickHealth is a gamified health-behavior change platform and app for predicting, managing and preventing chronic and lifestyle-related conditions such as obesity, heart disease, prediabetes and type-2 diabetes.

Utilizing behavioral economics principles alongside artificial intelligence (A.I.) and evidenced-based guidelines from the U.S. Centers for Disease Control and Prevention (CDC), SidekickHealth enhances the effectiveness of lifestyle education and coaching as offered through programs such as the CDC’s new nationwide Diabetes Prevention Program.

SidekickHealth’s platform and app, which has recently gained traction in the U.S., Iceland, and Sweden, was developed and researched in collaboration with experts from leading international health and medical institutions including Harvard University and the Massachusetts Institute of Technology, at which SidekickHealth’s CEO lectures on behavioral economics for lifestyle interventions, and data-driven healthcare.

"SidekickHealth's solution for predicting, managing and eliminating risk factors associated with lifestyle-related diseases by combining cutting-edge A.I., mobile technologies and scientific methodologies with engaging content and incentives presents a significant opportunity to positively impact the wellbeing of employees and patients, while also reducing health-related overhead costs for enterprise companies and organizations globally," said Eggert Claessen, Managing Partner, Frumtak Ventures.

"This investment gives our team of physicians, psychologists, public health professionals and game developers the opportunity to deepen SidekickHealth's global reach, particularly in the United States. As a result, companies and health organizations can more accurately predict and prevent negative health events, and increase the enrollment and success of in-person lifestyle-change programs," said Tryggvi Thorgeirsson, co-founder and CEO, SidekickHealth.

To date, companies and health organizations that have augmented in-person Diabetes Prevention Programs (DPPs) and employee fitness initiatives with SidekickHealth have seen an 82% retention rate among participants over a 4-month period, 76% increase in participant weight loss, and a 65% reduction in soda consumption. SidekickHealth is accessible regardless of level of health literacy or motivation, lending to higher participation and success rates among high-risk populations.

About Goodlifeme AB.

Goodlifeme AB. is a Swedish public limited company and the creator of SidekickHealth, founded by two practicing physicians, Tryggvi "Thor" Thorgeirsson, M.D., M.P.H. and Sæmundur "Sam" Oddsson, M.D., to predict and prevent lifestyle-related diseases. Recognizing that traditional methods of counseling for lifestyle change were not effective enough to bring about the massive shift that is needed to reverse the global epidemic of chronic illness, these two founders brought together a team of physicians, psychologists, public health scientists, biomedical engineers and game developers to develop SidekickHealth, a highly engaging, gamified platform and app featuring programs for diet, physical activity and stress management. For more information, please visit http://www.sidekickhealth.com

About Frumtak Ventures
Frumtak Ventures is a venture company, founded in 2008, that invests in innovative companies in Iceland that are post-seed and well positioned for international growth. Frumtak oversees the portfolios of two investment funds, Frumtak I and Frumtak II. The firm endeavors to give creative ideas that solve real-world problems the chance to succeed and to reinforce Iceland's reputation for profitable innovation. Frumtak invests in Icelandic companies gaining growth and sales in foreign markets, placing special emphasis on cooperating with stakeholders outside of Iceland. For more information, visit http://www.frumtak.is

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Tryggvi Thorgeirsson, M.D., M.P.H.
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SidekickHealth behavior-change mobile app for prevention of chronic lifestyle diseases