The startup plans to buff up its marketing as well as offer new tests and supplements.
Baze, a subscription platform that ships personalized vitamin supplement packages based on home blood test results, has raised $6 million in Series A funding. Supplement and wellness product manufacturer Nature’s Way headed the investment.
WHAT THEY DO
Looking to cut back on unnecessary supplement consumption and the costs it ensues, Baze’s direct-to-consumer service first tests the user to see which nutrients would provide the most benefit. The company sells a $99 starter kit that includes an at-home blood test. Once mailed back to Baze, consumers can view an analysis of their results through a mobile app, and decide whether to subscribe for a recurring shipment of their personalized supplement regiment.
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Although Baze launched its service in 2018, a note on its website stresses that the product is only available if consumers agree to participate in an ongoing research study gauging user experiences with the at-home sample collection device.
WHAT IT’S FOR
The startup wrote in the announcement that it plans to build out its marketing to promote the benefits of individualized nutritional supplements among consumers. It is also looking to add to its collection of tests and supplements with new offerings.
“We are at a pivotal growth point for Baze — it’s exciting to see how our offerings are evolving with the needs of our consumers and the world,” Philipp Schulte, cofounder and CEO of Baze, said in a statement. “The partnership with Nature’s Way is an amazing stamp of approval from the quality leader in the US supplement market. … While we retain full independence, their support will be tremendous for making our mission of driving real health impact through truly personalized supplementation a reality.”
MARKET SNAPSHOT
Baze finds itself in fairly well-funded company, with both Care/of and Wellnicity announcing investment rounds for their own supplement platforms. Near the end of that year, Pillsy subsidiary Stride Nutrition also announced a new service that would combine its medication adherence technology with mail-order nutrition products.
ON THE RECORD
“The technology and research developments used in this product are a game-changer for the vitamin supplement industry,” Mike Devereux, president and CEO of Nature’s Way, said in a statement. “The innovation behind Baze and the company’s determination to personalize a program that illustrates a baseline of nutrient compliance and creates the supporting vitamin protocols that assist in evolving to an even more optimal state of nutrient compliance is something we believe will help the consumer on their health journey. At Nature’s Way, we believe the most expensive supplement you will buy is the one that does not help you and our passion for assisting the wellness process is complemented by the Baze evidence-based approach.”
Date: August 14, 2019
Source: Mobihealth News
