Shape Up The Nation, a Providence, RI-based provider of social networking-based online health and wellness services, has raised $5m in Series A funding.
Investors include Cue Ball Capital and Excel Venture Management, which provided the capital in partnership with management members.
In conjunction with the financing, Anthony Tjan, CEO and General Partner of Cue Ball Capital, will join the board and serve as Executive Chairman.
Juan Enriquez, Managing Director of Excel Venture Management, will also join Shape Up The Nation’s Board of Directors.
Founded in 2006 by Brown Medical School students Rajiv Kumar and Brad Weinberg, Shape Up The Nation is a wellness platform aimed to unite people and improve their health through teamwork and peer–support.
The members of the platform utilize peer-based motivation tools to succeed in challenges and achieve goals such as losing weight, increasing physical activity, and quitting smoking.
The benefits for employers and health plans include improved workforce health, lower health claims, increased productivity, and enhanced corporate culture.
The company has already demonstrated success with over 120 marquee clients, including Cleveland Clinic, Cargill, Jarden Corporation and National Grid.