CVS Health Ventures Leads $25M Funding Round for Obesity Care Startup Knownwell

Knownwell, a weight-inclusive primary care and metabolic health company, has secured $25 million in a funding round led by CVS Health Ventures. The investment highlights the growing focus on comprehensive obesity care models in the healthcare industry.

Expansion and Outcomes

Over the past 18 months, Knownwell has significantly expanded its hybrid care offering. The company now operates in Massachusetts, Georgia, Illinois, and Texas, with virtual care available in all 50 states. Despite this rapid growth, Knownwell reports strong outcomes, including:

• 90+ net promoter score
• 91% one-year patient retention
• 93% one-year sustained weight loss

Brooke Boyarsky Pratt, Knownwell's co-founder and CEO, stated, "We spent the last 18 months proving that demand for knownwell's unique services exists across the country and our best-in-class outcomes can hold steady, or even improve, as we significantly grow our patient population."

Comprehensive Care Model

Knownwell's approach goes beyond traditional weight management or GLP-1 prescriptions. The company offers a range of services, including:

• Nutrition counseling
• Behavioral health services
• Primary care
• In-person and virtual consultations

This comprehensive model, designed by Dr. Angela Fitch, co-founder and chief medical officer, aims to address the complex needs of patients living with obesity. The U.S. healthcare system spends over $260 billion annually on obesity-related costs, underscoring the need for effective, long-term solutions.

Strategic Partnerships and Future Plans

The funding round, which brings Knownwell's total raised capital to $50 million, saw participation from MassMutual Catalyst Fund, Intermountain Ventures, and existing investors a16z Bio + Health and Flare Capital Partners. The company plans to use the funds to:

• Expand its multidisciplinary care team
• Add additional physical clinics
• Enhance AI and broader technology capabilities
• Expand clinical trials

Knownwell has also attracted attention from major players in the healthcare industry. The company was recently added as a care provider option through Eli Lilly's LillyDirect channel for prescribing medications.

Alyssa Reisner, partner and executive director at CVS Health Ventures, emphasized the potential impact of Knownwell's approach: "The ability to deliver comprehensive and longitudinal care at scale is exactly what payers and health systems need to address one of the most pressing drivers of high costs and poor outcomes in healthcare today."

As the obesity care landscape continues to evolve, Knownwell's innovative model and strong financial backing position it as a significant player in shaping the future of metabolic health treatment.