In the first year since its inception, Calibrate raised $ 100 million in equity from investors for the weight loss telehealth platform.
The Series B funding round was jointly led by Founders Fund and Tiger Global, both new investors, and in the participation of Optum Ventures and existing investors. In addition to the funding, Brian Singerman, a partner at Founders Fund, will join Calibrate’s board of directors.
“We know investing in prevention is intuitive,” said Calibrate founder and CEO Isabelle Kenyon. “So the first year at Calibrate was really about using results and results to prove that it makes sense and that this equation makes sense.”
This latest round of funding means the company has raised a total of $ 127.6 million in cumulative funding.
Calibrate is entering its second financial year and plans to expand its enterprise business in addition to its already established consumer-oriented business.
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Calibrate focuses on metabolic health through its year-long weight loss reset program that includes FDA-approved medications, doctor visits, and app-based coaching and curriculum. With a weight loss goal of 10%, the results showed that Calibrate members report an average annual body weight loss of 14%.
In the USA, the obesity prevalence in 2017/18 was 42.4%, according to the Centers for Disease Control and Prevention.
Calibrate is the only company in the industry that is focused on biology, Kenyon said.
“It goes back to the first part of our mission that this category is incredibly stigmatized,” said Kenyon. “We didn’t see obesity as a chronic disease until 2014 the AMA [American Medical Association] Voted to classify it as a chronic disease. We have not established any treatment standards or treatment protocols. “
Calibrate’s medical cohort is looking for metabolic drugs that mimic the effects of glucagon-like peptides-1, which are hormones made by your gut to help regulate metabolic function.
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“We know that improving your underlying metabolic health prepares you for long-term, sustained weight loss of 10 to 15%,” said Kenyon. “And that doesn’t mean you can lose that much weight by restricting calories whenever you want, which everyone else is telling you.”
The company’s recent development expanded consumer access to drugs such as Novo Nordisk’s Wegovy, a recently FDA approved hypodermic syringe for weight loss.
Calibrate’s proprietary integrated vertical pharmacy engine will help members obtain medicines like Wegovy.
According to Kenyon, Calibrate’s business is growing as consumers become more concerned about their underlying health. Coupled with the rise of telemedicine amid the pandemic, the platform has attracted new users and investors.
“We are living in a landmark moment for medicine,” said Kenyon.