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Cecelia Health Raises $13 Million to Launch Virtual Clinic
Cecelia Health has emerged as a leader in using expert clinicians that leverage a technology-enabled digital health platform.
FREMONT, CA: Cecelia Health, leading technology-enabled diabetes and other chronic disease management company, raised $13 million in Series B funding round. The investment was co-led by Rittenhouse Ventures and Endo Investors and included investments from Boston Millennia Partners, SustainVC, G100 Capital, and others.
The funding will allow the company to accelerate and continue expanding the adoption of its technology-enabled coaching and telemedicine solutions and enhance its digital health capabilities.
"The market opportunity and demand for Cecelia Health's telehealth solutions has grown exponentially since the onset of COVID-19 due to our demonstrated track record for significantly improving the health outcomes and quality of life for people living with diabetes and other chronic conditions," said David Weingard, Founder, and CEO of Cecelia Health. "The new investment capital from Rittenhouse, Endo, Boston Millennia, SustainVC and G100, and the executive access they will provide to new health plan, pharmaceutical and medical device companies and self-insured employers will enable us to accelerate our mission to transform lives at scale. I'm also excited to have Saul Richter from Rittenhouse, and Eric Edidin from Endo Investors join the Board as part of this funding round."
With over one million remote patient interactions, Cecelia Health has been a pioneer in delivering telehealth and chronic disease management solutions. The company's scalable telemedicine and digital health model is designed to quickly serve a broad population of patients at a low cost.
"The support provided by Cecelia Health to people with diabetes is truly life changing," said Eric Edidin, President of Endo Investors. "I have seen this firsthand, as my family is a user of a Cecelia Health certified diabetes educator. Our firm is excited to lead this round with Rittenhouse Ventures and partner with the team at Cecelia Health as they continue to solve for fundamental access, affordability, new technology adoption, patient experience and other challenges people with diabetes face on a daily basis."
The new capital will be used to deliver the first of its kind commercial Virtual Clinic that will offer CGM training, education on medication adherence and lifestyle and behavior change, mental health screening, and counseling. These will all be supported by algorithms that will recommend a necessary dosage and titration changes which will be reviewed and approved by Cecelia Health's CDCESs and endocrinologists.
"We're eager to start connecting Cecelia Health with healthcare organizations in our network as they continue to change the landscape of chronic condition management," said David Niles, President of G100 Capital. "Our investment in Cecelia Health is driven by our confidence in its team and its proven track record of delivering superior patient outcomes and we believe this new capital will enable them to have a significant impact on the healthcare industry at large."