A Houston-based digital health startup that's targeting solutions for digestive diseases has closed its latest round of funding.
VivanteHealth closed a $16 million series A funding round led by Chicago-based 7wireVentures with contribution from new investors, including Human Capital, Intermountain Ventures, SemperVirens, Elements Health Ventures, and Leaps by Bayer. Additionally, the round saw participation from returning investors FCA Venture Partners, NFP Ventures, Lifeforce Capital, and Big Pi Ventures.
The fresh funding will support commercial scaling and growth of the company, which is based in Houston's JLABS @ TMC space.
"The Series A financing round represents another pivotal milestone in our mission to improve our member's digestive health and provide outcomes at scale for our enterprise partners," says Bill Snyder, Vivante Health CEO, in a news release. "We are thrilled to partner with premier investors in this latest round of funding that will enable us to continue our rapid growth trajectory and further establish ourselves as the leader in digestive health."
The company is reinventing the way chronic conditions are managed through its digital health program, GIThrive, which equips people with digestive issues with technology, advanced science, and on-demand support. Throughout 2021, Vivante Health grew its client base by 400 percent through the addition of key Fortune 500 clients as well as employer healthcare solutions. Through these partnerships, Vivante's potential member base encompasses over 500,000 covered lives, according to the news release.
Around one in four Americans live with a digestive disease, making for a $136 billion market — and Vivante is addressing this need. The company reported that 87 percent of members stated they better managed their digestive symptoms, according to a recent poll, and 83 percent of members said they felt healthier. From a corporate client side, Vivante allows for reductions in direct medical cost, resulting in a 3 to 1 ROI for a large employer organizations.
"The current experience for individuals with GI disorders is at a minimum inadequate and frustrating, and for many, debilitating. To no surprise, over 40 percent of people with a GI condition are dissatisfied with their care," said Robert Garber, Partner at 7wireVentures. "Vivante is on a mission to change that. We are thrilled to partner with the company at a true inflection point in their growth story and accelerate access to a proven, evidence-based model that drastically improves the consumer experience while reducing costs for employers.
In 2020, Vivante raised a $5.8 million series A1. The company was founded in 2016 by serial entrepreneur Kimon Angelides, who recently launched a new business called FemTec Health.
