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Hybrid weight-inclusive primary and metabolic care provider knownwell announced an oversubscribed $25 million fund raise, bringing knownwell’s total funding to more than $50 million.
The round was led by CVS Health Ventures, with participation from MassMutual Catalyst Fund and Intermountain Ventures, and with continued support from a16z Bio + Health and Flare Capital Partners.
In addition, knownwell announced that Oak Street Health cofounder Geoff Price was named an investor and independent board member.
WHAT IT DOES
Knownwell describes itself as a hybrid weight-inclusive provider offering primary care and metabolic health services as well as nutrition counseling and health coaching.
The funds will be used to improve patient outcomes and manage costs.
"As someone who grew up with obesity, knownwell’s mission is deeply personal," Brooke Boyarsky Pratt, CEO and cofounder of knownwell, told MobiHealthNews.
"This funding from industry leaders across healthcare is a testament to the health outcomes our expert clinician-led care model, combined with an empathic approach and evidence-based practice, has generated."
Pratt added, "This funding will help us continue on our journey to becoming the healthcare home for patients with overweight or obesity."
MARKET SNAPSHOT
In September, knownwell expanded its care offering to the metro Atlanta region. The new location marked the company’s seventh opening in the last year, bringing its physical presence to 10 total clinics across the U.S., in addition to virtual care nationwide.
In August, knownwell opened its second clinic in the greater Boston area, where the company opened its flagship clinic in 2023.
In April, knownwell announced that it was listed as a care provider on pharma giant Eli Lilly's digital healthcare platform LillyDirect. Knownwell was added to LillyDirect's list of healthcare providers for patients seeking metabolic healthcare.
In February, knownwell expanded into six clinics across the greater Chicago area and provided patients across the Midwest with access to virtual care.
With its expansion into Chicago, the company added 23 regional employees and its first market medical director and VP of clinical partnerships, Dr. Anthony Auriemma, who in the past served as Ascension Medical Group Illinois Weight Loss Solutions' medical director.
