Vida Health announced a $110 million Series D round of venture capital funding for its virtual chronic care platform. This brings its total raised to $188 million.
Vida believes “that personalized, continuous virtual mental and physical care can be more effective and convenient than reactive, fragmented, in-person care. The company plans to use the new funding to continue expanding its network of clinicians, mental health coaches, dietitians, and licensed therapists to meet increasing demand for virtual care, particularly in mental health. The funding will also help deepen its machine learning capabilities, broaden its commercial efforts, and provide more people the care they need.”
Vida’s product is marketed direct to employers and to health care plans.
Two of the most used products on the Vida platform help treat Type 2 Diabetes and mental health. There are more than 400,000 people with diabetes who currently have access to Vida’s services. A new study, recently accepted by JMIR shows that the Vida Health diabetes program was effective in reducing HbA1c to values that were significantly lower than the pre-enrollment baseline. The company has historically seen, on average, a 1.5-2 point reduction in A1C for those members.
Additionally, with a 6000% increase in therapy sessions in Vida last year, mental health has had a big impact on Vida’s growth, and the company will continue to focus on expanding its mental health capabilities. Vida has multiple published studies demonstrating its efficacy in treating mental health ailments like depression and anxiety. In one JMIR study set for publication this summer, results show that 83% of participants reduce their depression or anxiety within 12 weeks of using Vida.
From Vida’s Funding Announcement
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