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New CEO and former Bumble executive Sarah Jones Simmer described the round as oversubscribed and pre-emptive, considering the startup “had not planned” on the raise process.“I think what was so interesting and exciting for investors is there is this really well understood TAM [total addressable market] — and it’s clear that this is the biggest problem facing healthcare today,” Jones Simmer told TechCrunch. “And here’s this company with a new, innovative approach and a clear product market fit with a business that has scaled very well, arguably operating under the radar without a whole lot of marketing channels fired up.” To give some context around its growth, in late September, the company had told me that since its 2020 launch, it had helped “tens of thousands” of members lose over 200,000 pounds, and that it was currently available in 31 states at an average cost of $100 per month, with a variety of plans.As of this month To underscore that goal, the company recently made two executive hires, naming Dr. Rekha Kumar as its chief medical officer and Dr. Acacia Parks as its chief behavioral health officer. The startup aims to help people focus more on body positivity and what they can “find” — such as being able to finish a 5K or keeping up with their grandkids or a newfound confidence — during their weight management journey. The company aims for a holistic, personalized and integrated approach that includes addressing sleep, “mindful” eating, movement, stress and a person’s biology.
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