Calibrate scores $100M following company's one year anniversary and more digital health fundings

Also: Better Therapeutics scored a $50 million loan facility, DiA Imaging Analysis raised $14 million and SCAN Group invested in MedArrive.
By Emily Olsen
11:56 am
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Photo courtesy of Calibrate

Calibrate, a virtual program for losing weight, announced Wednesday it has raised $100 million in Series B funding. 

The round was led by new investors Founders Fund and Tiger Global, with participation from Optum Ventures and existing investors Forerunner Ventures, Threshold Ventures and Redesign Health.

Calibrate plans to use the capital to expand its telehealth platform and build its enterprise business with glucagon-like peptide 1 (GLP-1) hormones, including Novo Nordisk’s Wegovy, which was recently approved by the FDA for chronic weight management.

“The recent FDA approval of Wegovy brings with it an incredible opportunity for treating obesity, but barriers exist for patients, including drug cost and an ability to maintain improved metabolic health and sustained weight loss from medication alone,” Emily Melton, Calibrate board member and managing partner at Threshold Ventures, said in a statement.

The company launched with $5.1 million in seed funding about a year ago. Calibrate said it has raised a total of $127.6 million in cumulative funding.


Better Therapeutics has secured a loan facility for up to $50 million from Hercules Capital. 

The company, a prescription digital therapeutics platform that provides cognitive behavioral therapy to address diabetes, hypertension and other cardiometabolic diseases, announced earlier this year it planned to go public by merging with a special purpose acquisition company. 

“This transaction comes on the heels of an eventful few months, including the announcement of our pending SPAC merger and concurrent PIPE financing, as well as the initiation of our potentially pivotal study in type 2 diabetes,” cofounder and CEO Kevin Appelbaum said in a statement.

“This debt financing will further strengthen our balance sheet as we develop BT-001 and advance our pipeline of additional PDTs for other behavior-driven cardiometabolic diseases.”


Israel-based DiA Imaging Analysis, which sells AI-based tools to analyze ultrasounds, scooped up $14 million in Series B funding.

New investors include XTX Ventures, Downing Ventures, Philips, Alchimia Ventures and ICON Community Fund. Existing investors CE Ventures, Connecticut Innovations, Defta Partners, Mindset Ventures and Dr. Shmuel Cabilly also participated in this round.

DiA plans to use the funding to expand its products, add new partnerships with ultrasound vendors, PACS and health IT companies, and grow its presence in Asia, Europe and the U.S.

The company said it has raised a total of $25 million so far.

"DiA continues to advance how ultrasound images are captured and analyzed, arming ultrasound users with the ability to make more accurate clinical assessments and ultimately provide better care to patients," Hila Goldman Aslan, DiA's CEO and cofounder, said in a statement.

"We are excited to see the enthusiasm from our growing investor base who see the potential for DiA's commercial success. We are ready and eager to take DiA to the next level by delivering our current and upcoming AI-powered ultrasound solutions to medical settings around the world."


SCAN Group, which owns Medicare Advantage insurer SCAN Health Plan, has invested in MedArrive, a platform that allows EMTs and paramedics to perform home-based care with physician oversight via telehealth.

The terms of the deal weren’t disclosed. SCAN has been working with MedArrive since it selected the startup as its preferred in-home provider earlier this year. 

MedArrive launched in December 2020 with $4.5 million in seed funding.

“With this partnership, SCAN is making an investment in both MedArrive and the health of America’s seniors,” Dr. Sachin Jain, president and CEO of SCAN Group and SCAN Health Plan, said in a statement.

“MedArrive’s technology allows healthcare providers to better meet the needs of older adults by providing them with care in the safest, most convenient location for them their homes.”


Panda Health, a marketplace for providers and other buyers to find digital health technologies, announced an agreement with Vizient to offer Panda’s platform at a savings to its member hospitals.

Vizient also led the company’s second round of seed funding, with participation from providers Bellin Health, BJC HealthCare, Dartmouth-Hitchcock, Ochsner Health, UW Health, Yale New Haven Health and technology partner CitiusTech. Panda did not disclose funding details.

"We are both excited and honored to have the investment support of Vizient and this amazing group of healthcare organizations,” Panda CEO David Harvey said in a statement.

 “We are also excited now to have a contract with Vizient, which will enable us to help their members source, implement and manage best-in-class digital health solutions more quickly, safely and economically than ever before."

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