Better Health Raises $10 Million Series A from Caffeinated Capital and General Catalyst to Scale its Bundled Medical Supply and Care Delivery Model
Better Health, a medical provider working to modernize the medical supply industry, announced today a $10 million Series A funding round led by Caffeinated Capital and General Catalyst with participation from Bill Ackman's family office, Table Management, 8VC, Anorak Ventures, Tank Hill Venture Partners, Motive Science, Modern Ventures and Unpopular VC.
Better Health is a new type of healthcare provider offering an end-to-end chronic condition care solution, bundling peer-support, education, telehealth and home delivery of medical supplies. It helps its members discover and purchase the best medical equipment and supplies to address their underlying chronic conditions and provides additional support and education, offering a personalized chronic condition management solution at home.
Supporting Rapid Growth and Expansion
"We're excited to continue supporting our members in managing their health at home and to expand our services and offering to meet their growing needs," said Naama Stauber Breckler, CEO and co-founder of Better Health. "When it comes to medical supplies, receiving the right support makes all the difference in improving patient health outcomes and in reducing overall utilization of care."
"I love investing in exceptional founders, building category-defining companies disrupting antiquated markets with low NPS. Since investing in its seed round Better Health had grown tremendously, it grew its member base 4.5x in the first half of 2021 alone. I'm excited about what the coming year will bring," said Raymond Tonsing, founder and managing partner at Caffeinated Capital.
Funding will be used to build out the company's capabilities to include specialized telehealth services covered by insurance, expand its model of bundled supplies, education and telehealth into new categories of products and chronic conditions, and expand its partnerships with health systems and payers.
Improving Health Outcomes
Better Health's solution has already achieved great results for populations with ostomies and chronic urological conditions. A recent study by the company shows 64% of participants who went through Better Health's peer coaching program reduced their utilization of care (e.g., doctor or hospital visits) and 47% saw an improvement in their mental health scores.
"The primary benefit of the coaching program is that patients are seen as more than just their diagnoses," said Stauber Breckler. "Speaking to their peers helps them normalize their new condition and regain the confidence to travel, manage relationships, exercise and live their best lives."
"One of the core pillars of our health assurance thesis is empowering people living with chronic conditions," said Hemant Taneja, managing partner at General Catalyst. "We could not be prouder to partner with the Better Health team in making the process of procuring vital medical equipment and supplies seamless. We believe everyone should be able to receive care with dignity and from the comfort of their own home ? Better Health allows just that."
About Better Health
Co-founded by Naama Stauber Breckler and Adam Breckler, Better Health is a new type of healthcare provider offering an end-to-end chronic condition care solution, bundling peer-support, education, telehealth, and home delivery of medical supplies. Better Health currently operates in 46 states and its services are covered by insurance for more than 81M lives across the country. Its insurance partners include Medicare, Medicaid, Oscar Health, and Humana, among other payers. For more information, visit: https://joinbetter.com/
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