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Exclusive: Ilant Health extends seed round

Illustration of a bathroom scale with a dollar sign formed by the indicator in the weight scale window.

Illustration: Aïda Amer/Axios

Obesity and weight management platform Ilant Health extended its seed round by $2.5 million, CEO Elina Onitskansky tells Axios exclusively.

Why it matters: Managing the cost and complexity of long-term care remains a challenge for the sector.

How it works: NYC-based Ilant helps employers and health plans manage treatment, using a value-based care approach.

  • The company identifies candidates and matches those patients with the appropriate treatment, and then offers guidance across the full treatment spectrum.
  • Ilant also provides access to specialist physicians, mental health practitioners and nutritionists, along with peer navigators.
  • "What differentiates us is that we offer mental health, a clinical decision support algorithm and claims analytics engine," Onitskansky says.

Follow the money: One of the sticking points when it comes to employer-sponsored care in the sector is the high cost to cover someone for a year, with the average person changing jobs every 18-24 months.

  • "Being nuanced and driving ROI is key," Onitskansky says. "Our focus is on appropriate use and that we can deliver ROI in under two years."

Caveat: Onitskansky says that obesity is underdiagnosed.

  • "I have seen numbers vary from 2% coded all the way up to 10%," she says. "It is hard to solve a problem you don't see analytically."

Behind the scenes: The additional money in the women-led startup increased its seed round to $5.5 million and came from LifeX Ventures, Celtic House Asia Partners, and Cornucopian Capital, as well as insiders.

  • "The motivation for the extension was the commercial traction we are seeing," the CEO says.
  • Onitskansky declined to comment on runway or financials.

State of play: The weight management investment has been continuing to rise, with lots of attention drawn to the sector because of GLP-1s, mainly Ozempic.

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