Funds raised to be used to scale up the tech platform and team expansion
Digital Therapeutics company Breathe Well-being that helps people prevent, manage and reverse Type-II Diabetes on Tuesday informed that it has raised $5.5 million in Series A led by Accel. The round saw participation from marquee investors like General Catalyst (early investors in Livongo, over $20 billion the US-based digital therapeutic company, Airbnb & Stripe) and Scott Shleifer, Global MD, Tiger Global. Angels have received a thirtyfold exit and early employees have been rewarded with life-changing ESOPs encashment.
The company will invest the current fundraise to scale up the tech platform and team expansion.
“Our mission is to help 1 million Indians reverse Type-II Diabetes by 2025. We are focusing on enhancing patient experience by scaling our technology platform, strengthening medical and coaching academies, community protocols, and game design. This fundraise will also help us ramp up our hiring and marketing efforts. We will be aggressively hiring not only for core operations but across the board. In Accel, we have found the right kind of partnership and synergy to help us achieve our ambition of becoming the largest digital therapeutics company in the world,” said Rohan Verma, co-founder, and chief executive officer, Breathe Well-being.
Breathe’s flagship Online Diabetes Reversal Program has garnered tremendous patient love from thousands of patients and boasts of impressive outcomes with over 95 per cent of patients showing HbA1c level reduction of more than 10 per cent and 90 per cent patients with completely stopped or reduced medications. Further proving the clinical efficacy of its Digital Therapeutics Program, the company has successfully published a clinical study with ADA (American Diabetes Association) on more than 180 patients, one of the largest from India and the first Digital Therapeutics in the world with its unique combination of diet, exercise, and meditation. With strong conviction in its program and their medical care team, Breathe is taking its promise of a diabetes-free life a notch higher with its ‘No Outcome, No Pay’ - Diabetic patients end up paying only if they see a significant reduction in the HbA1c levels else the fees is refunded.
“This investment feels as much personal as professional since Rohan’s pitch struck an immediate chord as diabetes reversal is a topic close to my heart. My mom suffers from type-II diabetes for several years and although she has been managing her condition in a disciplined way, we were unable to find a sustainable and holistic solution to reverse it. When we met the Breathe team, it instantly dawned upon us that this was a unique opportunity, built on the premise of high efficacy, patient love and deeply engaged community. My mom is now one of their many enthusiastic customers in her journey to bring down the A1c levels to 5.6. Their execution demonstrated the best in class customer engagement and retention, something that we have never seen before in the chronic care category in India. We were able to quickly build conviction on Rohan and Aditya’s vision on creating the best product and customer experience in chronic care reversal for India and global markets,” shared Radhika Ananth, vice president, Accel.
“We want to become the most trustworthy healthcare company in the world. The ‘No Outcome, No Pay’ policy is a testimony to our commitment of delivering health outcomes and improving our patient’s lives. Patients are becoming more aware and excited by the possibility of Reversal through a natural lifestyle modification rather than being stuck on medications for life. Additionally, achieving full Diabetes Remission gives them more freedom in their diet and lifestyle without Diabetes-related worries,” added Aditya Kaicker, co-founder and chief program officer, Breathe Well-being.
In the long-term, Breathe wants to extend its digital therapeutic offerings to other chronic conditions, such as hypertension, PCOS, gut disorders, etc., and establish itself as a leading global player in the market. While carrying forward its patient-first approach and continuing building the business with a focus on consumer experience, trust, and clinically proven results. Breathe Well-being raised funding from 3one4 Capital, six months back, who has also participated in this round.