Healthrageous lands $6.5M in funding
Healthrageous, a company that provides digital health self-management tools , has received $6.5 million in Series B financing from North Bridge Venture Partners, Egan-Managed Capital, Long River and an undisclosed investor.
This latest round of cash, which brings the company’s total financing to $15 million since 2010, will be used to further enhance the company’s consumer facing user interfaces (Web and mobile app), analytics engines and machine learning platform.
By enhancing its capabilities, Healthrageous will enable deeper personalization – from individual level program design to incentives, executives say.
As they see it, consumers will be able to define their reason for maintaining or improving their health, creating their own plan and approach (based on evidence-based guidelines) and, with intuitive ease, assembling the tools and selecting the rewards that are the most appealing and meaningful to support lifestyle behavioral changes. Deeper personalization means superior engagement, improved health outcomes, reduced utilization for health plans and lower hospital readmission rates.
“With the industry’s shift to new models of care, health plans and pharmas are incented to keep consumers engaged in adopting and maintaining the lifestyle behaviors that impact individual health status,” said Rick Lee, Healthrageous' CEO. "Healthrageous’ data has revealed that the current approach of offering a one-size-fits-all program doesn’t adequately address individual goals for maintaining or improving health.”
Healthrageous technology not only tracks and analyzes key biometric measures of health status over time, said Lee, but also engages consumers in meaningful and personalized ways.
Data from more than 10,000 individual users shows that about 30 percent of those using the Healthrageous platform to either improve a lifestyle behavior or manage a chronic condition achieve a clinically significant improvement in their health, indicated by reduced medical utilization as well as lower risk for serious illness.
“Healthrageous is reinventing lifestyle medicine,” said Bill Geary, investor at North Bridge Venture Partners, who noted that it "has only begun to scratch the surface of empowering consumers, which will ultimately improve the health of our population and the bottom lines of health plans, employers and pharmas.”
The company’s solutions are based on technologies developed at the Center for Connected Health, a division of Partners HealthCare in Boston.