Knownwell has raised $25 million in an oversubscribed financing round led by CVS Health Ventures, bringing total funding to over $50 million. MassMutual Catalyst Fund, Intermountain Ventures, and others participated in the round, along with existing investors a16z Bio + Health and Flare Capital Partners.
Oak Street Health co-founder Geoff Price joined as an investor and independent board member. The Boston-based company provides obesity medicine and weight-inclusive primary care through a physician-led care model designed by co-founder and Chief Medical Officer Dr. Angela Fitch, Immediate Past President of the Obesity Medicine Association.
Over the past 18 months, knownwell has expanded from Massachusetts to Georgia, Illinois, and Texas, and launched virtual care across all 50 states. The company reports a net promoter score above 90, 91% one-year patient retention, and 93% one-year sustained weight loss.
“Our model demonstrates that when you treat people with respect and deliver truly evidence-based obesity care, patients engage in unprecedented ways – delivering sustained and significant health improvements,” said Brooke Boyarsky Pratt, co-founder and CEO of knownwell. “Being backed by a leading payer is a powerful validation of that approach.”
Knownwell offers metabolic health services, comprehensive primary care, nutrition counseling, and behavioral health services both online and in person. The company accepts insurance. Patients with obesity cost the US healthcare system more than $260 billion annually. Metabolic health affects women differently than men, particularly around hormonal changes including PCOS and menopause, when declining estrogen levels shift fat distribution and increase cardiovascular risk.
“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,” said Alyssa Reisner, Partner and Executive Director at CVS Health Ventures.
