Calibrate, a virtual program for losing weight, announced Wednesday it has raised $100 million in Series B funding.
The round was led by new investors Founders Fund and Tiger Global, with participation from Optum Ventures and existing investors Forerunner Ventures, Threshold Ventures and Redesign Health.
Calibrate plans to use the capital to expand its telehealth platform and build its enterprise business with glucagon-like peptide 1 (GLP-1) hormones, including Novo Nordisk’s Wegovy, which was recently approved by the FDA for chronic weight management.
“The recent FDA approval of Wegovy brings with it an incredible opportunity for treating obesity, but barriers exist for patients, including drug cost and an ability to maintain improved metabolic health and sustained weight loss from medication alone,” Emily Melton, Calibrate board member and managing partner at Threshold Ventures, said in a statement.
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The company launched with $5.1 million in seed funding about a year ago. Calibrate said it has raised a total of $127.6 million in cumulative funding.
Source: Mobihealthnews