A16Z Leads $20M Funding for Knownwell To Expand Teen Metabolic Health Program
knownwell hopes to bring unique, weight-inclusive care for teens and destigmatize obesity treatment.
Big Idea:
knownwell, a weight-inclusive primary care and metabolic health company, has successfully raised $20 million in a Series A funding round led by a16z, with participation from existing investors including Flare Capital Partners. The funding is to expand its unique, weight-inclusive care model for teens and destigmatize obesity treatment.
Why It Matters:
The global obesity therapeutic market is projected to reach $100 billion by 2030, with U.S. obesity-related healthcare costs nearing $173 billion annually. knownwell's model provides a cost-effective, AI-powered solution, aiming to address the issue of obesity among the 14 million children and teens living in the U.S.
Key Details:
- Knownwell's recent funding raises their total capital to $24.5 million.
- Launching “knownwell teens”, a comprehensive approach to adolescent metabolic health, leveraging AI-powered tools and clinical expertise.
- The initiative could drastically reduce obesity prevalence among U.S. teens, currently at 22.2% for 12- to 19-year-olds, and mitigate long-term health and economic impacts.
“Patients with overweight and obesity know how hard it is to find comprehensive, insurance-based, non-stigmatizing and clinically-based healthcare. knownwell exists to be a healthcare home to patients who have been stigmatized for too long by the healthcare system because of their size,” said Brooke Boyarsky-Pratt, CEO and Co-Founder of knownwell.
What's Next:
With the new funding, knownwell aims to expand its enterprise solution to collaborate with health systems, payors, and employers. The company plans to enhance its telehealth services and brick-and-mortar clinics, enabling wider access to weight-inclusive care. Product development, including the incorporation of AI-powered patient stratification, asynchronous communication, and provider workflow tools, is a key focus.
State of Play:
knownwell is partnering with major pharmaceutical companies to conduct and participate in clinical trials. The company emphasizes evidence-based and high-value obesity medicine to address the significant healthcare challenges posed by obesity from both clinical and cost perspectives.
Flashback:
Founded by Brooke Boyarsky Pratt, who has experienced lifelong obesity, and Dr. Angela Fitch, the President of the Obesity Medicine Association, knownwell focuses on a long-term, holistic approach that challenges the industry's reliance on quick-fix treatments like GLP-1 drugs.
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