Wisdo Health, the award-winning peer support platform with the mission of ending the loneliness epidemic and changing social health, announced that it has successfully closed its Series A Financing Round with $5M in new funding. This additional funding closes Wisdo's $11M A round.
NEW YORK, Jan. 5, 2023 /PRNewswire-PRWeb/ -- Boaz Gaon, Wisdo's CEO and Founder, will present Wisdo's impact and roadmap, building on this new round of funding, at the 41st JP Morgan Health conference taking place January 9-12th.
Co-founder of one of the world's most successful cyber security companies, Checkpoint, (NASDAQ: CHKP) and founder of growth health fund aMoon, Wisdo's lead investor Marius Nacht led this additional funding together with Alive Israel Healthtech Fund L.P. and Bridge Builders Collaborative.
Alive is a pioneer mid-to-late stage HealthTech fund leveraging an exclusive ecosystem of strategic partners composed of leading hospital chains, HMOs and financial institutions to support and accelerate portfolio companies' clinical and commercial expansion. Other companies in its portfolio include Navina and OncoHost.
Additional investors include Founder of 23andme, Anne Wojcicki, Founder of Intel Capital, Avram Miller, and investors from the Bridge Builders Collaborative whose portfolios include Headspace Health, Insight Timer and Pear Therapeutics.
Boaz Gaon stated: "The outbreak of COVID in early 2020, and its aftermath, reshaped how health plan leaders and employers view the urgency of providing social health to their members to prevent and preempt the rising tide of loneliness and mitigate its deleterious effects on mental health, physical health – particularly when coping with chronic comorbidities – and engagement.
With over 100M American adults who self-define as lonely, resulting in excess costs amounting to $4200-$6000 per member per year, Wisdo Health is uniquely poised to become the leading provider of evidence-driven social health to Americans aged 17 to 85. We are humbled by this additional funding from healthcare innovators of this caliber. It will ensure our continued progress, particularly in continuing to build our sales and marketing presence, where the problem we are solving will unfortunately continue to grow in the next decade, overshadowing mental and physical health, if scalable solutions are not adopted en masse."
Michel Habib, Co-founder and Managing General Partner of Alive VC, who will be joining the Wisdo Board, stated: "Since shifting towards working with major health insurance providers and self-insured employers on addressing the loneliness epidemic, Wisdo Health has produced phenomenal results tying their impact on health to major reductions in the cost of care. We are excited about helping Wisdo scale into the leader in providing social health to those who need it with the goal of improving mental and physical health and reducing healthcare costs drastically."
Wisdo Health is an evidence-based peer support and benefits navigation platform designed to address the harmful consequences of loneliness, social isolation, and lack of engagement on health outcomes and costs. Wisdo uses a data-driven model to map users' life challenges, goals, and obstacles to health, then proactively connects them with helpful peers who have been in their shoes, group coaching to build social skills, and referrals to clinical and SDOH solutions offered to users through their employer, state, or health plan. To date, over 500,000 adults have joined Wisdo. Learn more at http://www.wisdo.com
Head of Marketing
Debra Emanuel, Wisdo Health, 972 543003184, [email protected]
SOURCE Wisdo Health