Yes Health, a digital health platform meant to help people reach their weight loss or diabetes prevention and management goals, raised $6 million in Series A round of financing
Fremont, CA: Yes Health, a digital health platform meant to help people reach their weight loss or diabetes prevention and management goals, raised $6 million in Series A round of financing. The financing round was led by Khosla Ventures. The firm intends to use the proceeds of the round to grow its workforce, expand its platform, and scale operations.
"Americans are more conscious than ever about their health, and digital health has become one of the most important markets for innovation," said Samir Kaul, founding partner and managing director of Khosla Ventures. "Yes Health is proven to tackle difficult and costly chronic conditions through an AI-augmented and all-mobile solution, aligning it with our firm's thesis in healthcare."
According to the CDC, approximately 34 million Americans had diabetes in 2018, and an astonishing 88 million shown prediabetes symptoms. Type 2 diabetes, specifically, which is often caused by obesity, can create significant cost problems for both individual patients and the entire system. Just the diagnosed cases alone cost the U.S. healthcare system $327 billion each year, and patients struggling with diabetes have healthcare costs that are more than 230 percent the average American.
These health and cost implications are even more challenging during a global pandemic because health resources are strained, people can't exercise or see their doctors as quickly, and it's harder to maintain a healthy lifestyle and habits amidst tensions. Here digital health is the only reliable way people left with to maintain continuity of care, especially those with underlying conditions such as diabetes or obesity that are often at higher risk.
"Diabetes and obesity are major, yet still addressable, epidemics in their own right that put tremendous pressure on the U.S. healthcare system. At Yes Health, we've invested significantly to combine the best of Silicon Valley technology with the compassionate care of the best health care professionals to give back people control over their health," said Alexander Petrov, founder and CEO of Yes Health. "Now more than ever, it's crucial that we don't allow one health crisis to exacerbate others, needlessly driving up human suffering and societal cost."
Yes Health is a fully CDC-recognized lifestyle and behavioral-change system that collaborates personalized coaching with a mobile-based platform that helps members prevent and manage chronic conditions through better diets, exercise, and well-being.
Using AI that augments human health coaching, Yes Health delivers personalized and timely therapy for members, directly to their smartphones, and its in-the-moment coaching generates up to 12 times the learning moments compared to programs that use the phone- or video-based coaching.
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