Oviva, a provider of app-based diet and lifestyle coaching services, raised $80 million in a Series C funding round. Including the latest round, Oviva has raised $115 million to date.
The round was co-led by Sofina and Temasek, alongside existing investors AlbionVC, Earlybird, Eight Roads Ventures, F-Prime Capital, MTIP, and several angel investors.
Oviva, founded in 2014, offers diet-related habits improving long-term health-enhancing and well-being programs, which combine individual coaching with an app and certified dietitians, and costs are covered by the health systems and insurers.
According to Oviva, its app-based programs have helped over 200,000 people with diet-related challenges. The company has formed over 5,000 partnerships with health systems, insurers, and doctors. It has operations across Europe, including in the UK, Germany, and Switzerland, and France.
“We will expand to European markets where the health system reimburses the diet and lifestyle change we offer, especially those with specific pathways for digital reimbursement,” Oviva tells TechCrunch. “Encouragingly, more healthcare systems have been opening up specific routes for such digital reimbursement, e.g., Germany for DiGAs or Belgium just in the last months.”
With new funds, the company also plans to acquire potential businesses that enable it to offer more comprehensive services to patients, such as mental health or physical therapy. It’s eyeing companies that would allow it to grow its established network and healthcare provider base – and to “leverage its technology to digitize its care, [and] to build value for its patients and payers.”
mHealth Apps raised a record $1.6 billion in venture funding in 1H 2021, a 100% increase year-over-year, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report.
Noom, a psychology-based digital health app that helps people meet their health and wellness goals from weight management to diabetes prevention to stress reduction, announced a $540 million Series F funding round led by Silver Lake.