Kumanu (formerly JOOL Health), a mental health and social wellbeing app intended to address emerging health crises, closed a strategic $3 million Series A funding round.
ProMedica, a not-for-profit national health care organization, led the financing round.
In addition to strategic investment, Kumanu and ProMedica will jointly develop unique solutions to intervene against risks driven by Social Determinants of Health – the social, economic, and environmental factors that influence health risks and outcomes, the company said in a statement.
These risks include factors such as financial strain, housing, food insecurity, behavioral health, violence risks, and childcare. Taken together with behavior, these factors are estimated to influence over 80% of health outcomes, an impact considerably higher than that of clinical care., according to the company.
As part of the investment, Randy Oostra, president and CEO of ProMedica, will join the Kumanu board of directors.
“We are excited to collaborate with the Kumanu team to tackle the most pressing health barriers facing communities and employers today, including Social Determinants of Health,” said Randy Oostra.
Randy Oostra added, “Kumanu has developed a unique technology platform for scaling and sustaining positive change in health behaviors, and a seasoned team that perfectly complements our capabilities and culture. Kumanu’s work in life purpose is a major new addition to our social determinants of health work, and it adds one more very important piece as we try to improve individuals’ personal, social and economic factors.”
The new funds will support the roll out the company’s mental health and social wellbeing solutions to ProMedica employees.
Ann Arbor, Michigan-based startup, founded in 2015 by Victor Strecher, has raised over $7 million to date, including a $4.5 million Seed funding round in 2017, which was led by CVC JOOL Investors. The company’s existing investors include Tappan Hill Ventures, Michigan Angel Fund, Wakestream Ventures.
Digital health Apps raised $794 million 1H 2020, according to Mercom’s latest report.
Image Credit: Kumanu