Digital Therapeutics company Breathe Well-being that helps people prevent, manage and reverse Type 2 Diabetes 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, $20B+ US-based digital therapeutic company, Airbnb & Stripe) and Scott Shleifer, Global MD, Tiger Global. Angels have received a 30X exit and early employees have been rewarded with life changing ESOPs encashment.
The Company will invest the current fund raise to scale up the tech platform and team expansion.
The founders, Rohan Verma (Ex McKinsey) and Aditya Kaicker (ex-Accenture), are second-time founders and childhood friends, with a decade of experience in the healthcare space. Having seen and managed these problems for their parents, the founders understand what it takes to help people build behavioural changes that address these chronic diseases and more importantly, what it takes to help patients sustain their health outcomes. This is how the idea of Breathe Well-being came to life.
Rohan is a certified CrossFit L2 trainer and a mindfulness coach and Aditya is an ACE-certified behavioral health coach; together, with their experience in Healthcare consulting and Life Sciences, they bring in the right expertise to develop life-changing health programs.
With a meager 200,000 specialist doctors base in the country, the need for an efficient tech platform that can help patients manage and treat their conditions with minimal medical intervention could not be more imminent. For chronic care reversal or management, continuous engagement and monitoring is required. However, care delivery for chronic care patients currently is highly episodic. Hence the need for digital solutions that can be delivered at home and at the time of need.
Rohan Verma, Co-founder & CEO, Breathe Well-being said, “Our mission is to help one million Indians reverse Type 2 Diabetes by 2025. We are focusing on enhancing patient experience by scaling our technology platform, strengthening medical and coaching academy, 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.”
Accel India brings in 15+ years of experience helping entrepreneurs build consumer-tech companies, such as Facebook, Flipkart, BookMyShow, Myntra, Swiggy, Urban Company.
Radhika Ananth, Vice President, Accel, said, “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 2 diabetes for several years and although she has been managing her condition in a disciplined way, we were unable to find a sustainable and a holistic solution to reverse it. When we met the Breathe team, it instantly dawned upon us that this was a unique opportunity.”
Aditya Kaicker, Co-founder & Chief Program Officer, Breathe Well-being, says, “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.”
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. It raised funding from 3one4 Capital, six months back, who have also participated in this round.
