Nue Life Health, a Miami, FL-based mental wellness company, raised 23m in Series A equity and debt financing.
The round was led by Obvious Ventures, with participation from MAGIC Fund, Myelin VC, Palm Drive Capital, certain Getty family investors, Jon Oringer, founder and executive chairman of Shutterstock, Brent L. Saunders, chairman of Vesper Healthcare and former chairman and president of Allergan, and Andrey Ostrovsky, MD, who also joins Nue Life’s advisory board, as well as additional venture debt financing from Western Technology Investment.
The funding will support the brand as it continues to expand its offerings—including new next-generation digital and integrated wellness programs—and as it accelerates its geographic expansion with the addition of experienced clinicians throughout the United States.
Founded in 2021 and led by Juan Pablo Cappello, CEO, Nue Life Health is a comprehensive telehealth platform that strengthens and improves mental wellness by enhancing brain function, performance, and longevity through innovative, evidence-based therapies. Launched in 2021, the company currently offers at-home ketamine therapy, virtual integration groups, and individual health coaching, accessible via telemedicine in California, Colorado, Florida, Washington, New York, and Texas. Nue Lifewill offer services in Georgia and Massachusetts in April and an additional 20 states by the end of 2022.
The financing follows November 2021 Nue.App and Nue.Portal launch, the company’s proprietary technologies serving patients and providers. In March, Nue Life launched its service in New York, in addition to being available in Florida, Texas, California, Colorado, and Washington State. In April, its service will expand to Georgia and Massachusetts. The company plans to expand to at least twenty additional states by the end of the year.
Phil Wolfson, MD, has also joined the company’s advisory board. In his role, he will help Nue Life develop the highest standard of care in the industry. Dr. Wolfson is the CEO of the non-profit Ketamine Research Foundation, which provides research, education, and training on the use of ketamine-assisted psychotherapy as part of a collaborative treatment approach. He is the author of numerous books and papers on the use of psychedelics for mental health treatment, including The Ketamine Papers, the most important research work on ketamine, and was the principal investigator of the MAPS (Multidisciplinary Association for Psychedelic Studies) study on MDMA treatment for patients with life-threatening illnesses.