Fit4D Raises Additional $4 Million To Fuel Growth and Product Innovation Executing on Its Mission of Improving the Health of People with Diabetes
Financing led by existing investor SJF Ventures with new investors C&B Capital, Esther Dyson and North Haven Capital. Existing investors Blue Cross and Blue Shield of Nebraska and StartUp Health also participated in the round.
NEW YORK, Sept. 04, 2018 /PRNewswire-PRWeb/ -- Fit4D, a leading diabetes management technology services company based in New York City, announced an expansion financing led by existing investor SJF Ventures with new investors C&B Capital, Esther Dyson and North Haven Capital. Existing investors Blue Cross and Blue Shield of Nebraska and StartUp Health also participated in the round.
The funding will enable Fit4D to further its leadership in providing a clinically-proven, patient-centric technology enabled coaching solution to those living with diabetes. For health plans and providers seeking to improve quality measures and outcomes, and for pharmaceutical and device companies seeking to improve adherence, Fit4D is a purpose-built coaching platform that enables Certified Diabetes Educator (CDE) clinicians to scale their reach and deliver effective, personalized, one-on-one care. Fit4D has the largest team of CDEs outside of diabetes pharmaceutical and device companies and has delivered over 200,000 coaching interactions in 2017.
Diabetes is in a state of crisis in the US with 18% of the patients accounting for 40% of the $327 billion spent annually for diabetes-related costs. Diabetes care is more complex than simply taking a pill or injection or using a device. Patients need help understanding why taking their medication or using their device is so important and integrating it within their lifestyle. Even taking medication as prescribed is a problem as 58% of patients with Type 2 diabetes stop taking their medication within one year (1).
"We have been continually impressed with the value Fit4D delivers to its clients through its innovative use of human-based empathy and clinical-support scaled by technology," said SJF Ventures Managing Director Cody Nystrom. "SJF invests in high-growth companies creating healthier, smarter and cleaner futures and Fit4D is delivering commercial success while also achieving its social mission. For the second year in a row, Fit4D earned the highest impact rating by GIIRS, the Global Impact Investment Rating System, for its innovative business model in successfully solving diabetes-related problems for patients and its clients."
"Health plans and providers are looking for proven solutions that enable them to succeed in value-based and risk sharing arrangements. Fit4D stands out as a company that is driving a new era of personalized patient engagement, powered by technology, while delivering measurable outcomes for the diabetes population," said Ronnie Goldman, Managing Director with C&B Capital.
"Living with diabetes involves tackling every day with a balance of medication, nutrition and lifestyle and patients are just overwhelmed. Diabetes is a job that no one wants," said David Weingard, CEO of Fit4D. "Fit4D patients become empowered to take on this job by developing personal relationships with clinician coaches who provide support, compassion and education. It is human touch that creates the positive behavior change and our technology enables us to scale the human touch our team of CDE's can deliver to patients. We're excited to continue expanding Fit4D's role in meaningfully addressing the diabetes epidemic for patients and creating a winning solution for our clients that significantly reduces the cost of care .
Source (1): IBM Watson Health analysis of adults with Type 2 diabetes
About Fit4D
With a mission to improve the lives of people living with diabetes, Fit4D delivers scalable and effective diabetes management programs through an optimized mix of humans and technology to deliver measurable outcomes in an affordable manner. The Fit4D clinical team is comprised primarily of Certified Diabetes Educators (CDEs) with clinical credentials as nurses, registered dietitians, pharmacists, exercise physiologists, social workers and more, who are passionate about empowering people with diabetes to live rich, healthy and fulfilling lives.
Fit4D partners with leading health plans/providers seeking to improve quality measures and pharmaceutical/device companies seeking to improve medication adherence. Fit4D has also engaged in numerous joint initiatives with the Juvenile Diabetes Research Foundation, American Diabetes Association, the Diabetes Research Institute and the American Association of Diabetes Educators. For more information visit http://www.fit4d.com
SOURCE Fit4D
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