Ness raises $15.5 million
Ness, a fintech company “building credit cards to reduce the cost of wellcare,” announced the official launch of its first product, the Ness Rewards App, and $15.5 million in seed funding. The round was led by Will Ventures with participation from Core Innovation Capital, Accomplice, Digitalis, GFC, Portage Ventures, Refactor Capital, RiverPark, and Atypical. Also participating are founders and senior executives from some of the most well known and beloved health and wellness companies, including Sweetgreen, Mirror, Headspace, Thrive Market, Whole30, Oura, Quartet Health, Four Sigmatic, RXBar, Everly Health, Pillpack, Ginger, One Medical, Galileo Health, Oscar Health, Noom, and Hungryroot.
The Ness Rewards App allows consumers to earn points for the spending they’re already doing on their health. Eventually, all “healthy actions” – from fitness activity to physician visits – will be rewarded. Consumers can redeem these points for offers at wellness brands like Sweetgreen, Thrive Market, Barry’s Bootcamp, and more.
In addition to this funding, Ness is also announcing the acquisition of WellSet’s 4,000-person nationwide network of practitioners. Soon, consumers will be able to use the points they earn to see experts like health coaches, dieticians, therapists, and doulas.
On top of credit cards, Ness plans to offer medical benefits, supplemental insurance, and comprehensive health insurance.
“Ultimately, we see credit cards as the best platform for consumers to get health insurance that’ll stick with them for 30 to 40 years, not just 3 to 4. When we can justify investing in long-term health right now, that’ll lead to a healthier society with health plan incentives totally aligned for the first time.” – Derek Flanzraich, CEO and founder of Ness.