Big Health raises $39 million
Big Health, “the global leader in digital therapeutics dedicated to helping millions back to good mental health,” has raised $39 million in a Series B round. Gilde Healthcare led the new round of funding joined by co-lead Morningside Ventures, as well as Samsung NEXT and existing investors Kaiser Permanente Ventures and Octopus Ventures.
Founded in 2010, Big Health offers two products: Sleepio and Daylight. The first helps users manage poor sleep and the second addresses worry and anxiety. The solutions encompass behavioral therapy techniques and soliciting feedback from the user while delivering personalized content through narration and animations. The company recently announced key findings from a health economic evaluation of Sleepio at a Fortune 500 company, which compared two groups of employees – a group of Sleepio users and a matched control group – and their respective healthcare costs over an 18-month follow-up period. The results demonstrated 28% lower total annualized healthcare costs in the cohort of Sleepio users, as compared to the matched control group.
“We’re excited about the mission of Big Health to provide fully automated mental health solutions to millions of people worldwide. Our investment philosophy is to support fast-growing, global businesses that deliver better care at lower cost and Big Health is a perfect fit.” – Janke Dittmer of Gilde Healthcare.
“We’re very pleased to add Big Health, the leading digital therapeutics company in mental health, to our therapeutics portfolio. Big Health has led the market in their commitment to clinical evidence, and in pioneering innovative go-to-market strategies. We believe the company is ideally positioned to dominate the digital therapeutics space, and to help millions back to good mental health as a result.” – Isaac Cheng, M.D., of Morningside Ventures.
“We entered 2020 having doubled our revenues in 2019. That’s because customers such as Target, Comcast and The Home Depot recognize that our digital therapeutics can fill a growing gap in their portfolio of mental health benefits. With this funding and with Janke’s and Isaac’s strategic insights, we are well positioned to accelerate our new product innovation, and add more sales and distribution capacity to meet increasing demand.” – Peter Hames, Big Health cofounder and CEO.
