Virtual weight management: State of play

Last updated July 26, 2023

Weight management is a booming corner of the digital health industry despite an overall deal slowdown, per a recent PitchBook report. While biotech companies such as Novo Nordisk (maker of Wegovy) and Eli Lilly (maker of Mounjaro) are cashing in on weight loss drugs, other companies are virtual-first weight management tools that may or may not include medications.

Several have seen recent deal activity, including:

• Knownwell, a startup providing hybrid, weight management-focused primary care, in January collected $4.5 million in seed funding.
• WeightWatchers in March agreed to buy the parent company of telehealth-based weight management business Sequence in a deal valued at $132 million.
• Enara, a startup helping physicians provide patients with personalized weight loss support using digital tools, in June raised $6 million in seed financing.
• Alfie, an AI-powered obesity management tech company, raised a $2.1 million pre-seed round last month.
• Enara Health, a virtual weight management startup, is planning to raise $3.5 million in new funding, according to SEC filings. The company collected $6 million in seed funding last June.
• In 2021, three digital weight management startups — Noom, Calibrate and Found — raked in a collective $740 million in later-stage funding rounds.

Go deeper on funding trends in other telehealth sectors:

• Gastrointestinal care
• Mental health
• Women's health
• Wound care