Omada Health, a San Francisco, CA-based digital behavioral medicine company, raised $50m in funding.
The round was led by Cigna (NYSE: CI) with participation from new investors Civilization Ventures and Sanofi Genzyme BioVentures, and previous investors U.S. Venture Partners, Andreessen Horowitz, Norwest Venture Partners, Humana, Kaiser Permanente Ventures, Providence Ventures, dRx Capital, and GE Ventures.
In addition to leading the fundraising round, Cigna will also grow its non-exclusive commercial partnership with Omada, adding the Omada Program to its suite of health improvement services.
Led by CEO Sean Duffy, Omada is a digital behavioral medicine company that inspires and enables people to change the habits that put them most at risk for chronic conditions like heart disease and type 2 diabetes. The company is a CDC-recognized provider of the National Diabetes Prevention Program, and since its founding, has enrolled more than 100,000 participants.
Omada’s program, which combines proven behavioral science, professional health coaches and peer groups, and connected technology, operates on a pay-for-outcomes pricing model that aligns incentives between Omada, customers, and participants.