Knownwell, a primary care and metabolic health company, has raised $20 million in Series A financing, the company announced Wednesday. In addition, the company launched an adolescent metabolic health program.
Boston-based knownwell offers virtual support to patients in Massachusetts, Rhode Island and New Hampshire, as well as in-person care through its clinic just outside of Boston. It accepts insurance, including commercial, Medicare and Medicaid. Patients see the company for weight-inclusive primary care (in which obesity treatment is integrated into primary care treatment), metabolic health or both. It offers support from registered dietitians for nutrition, behavioral health services, remote patient monitoring, health coaching and a movement program. It also prescribes GLP-1s, if considered appropriate.
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“We have two really core beliefs that inform everything we do,” said Brooke Boyarsky-Pratt, CEO and co-founder of knownwell, in an interview. “One is that obesity is a chronic, lifelong disease. It’s treatable but lifelong. The second is that patients deserve a healthcare home, regardless of if they want to work on their weight.”
The $20 million Series A funding round was led by A16Z and included participation from Flare Capital Partners. In total, knownwell has raised $24.5 million. A16Z chose to invest in the company because of the major need for more obesity care support.
“Obesity is perhaps our country’s greatest healthcare challenge, from both a clinical and cost perspective,” said Vineeta Agarwala, general partner at A16Z, in a statement.
With the financing, the company plans to expand its telehealth and in-person offerings to more geographies. It will also invest in its technology and partnering with pharmaceutical companies for clinical trials.
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In addition to the funding, the company is also launching knownwell teens, which offers metabolic health services for teens ages 13 to 18 (knownwell isn’t providing primary care for teens). With this age group, the company is involving the family in treatment and leveraging motivational interviewing, which is a counseling method that helps people resolve ambivalent feelings and insecurities.
Knownwell was born out of Boyarsky-Pratt’s experience. She has had lifelong obesity and said knownwell teens is a program she wished she had when she was 13.
“So early on, I [received] really dismissive care from physicians. … I would go in for a sinus infection, and the doctor would say, ‘Have you considered losing weight?” Boyarsky-Pratt said.
Looking ahead, the company is focused on serving more patients across the country and getting involved in advocacy work to ensure there is adequate coverage of obesity treatment, according to Boyarsky-Pratt.
Several other companies offer services to treat obesity, including WeightWatchers and Noom. These companies offer direct-to-consumer programs, as well as programs for employers.
Photo: StockFinland, Getty Images
