- Baltimore-based Ryse Health raised a $3.4 million seed round from W Health Ventures.
- The startup offers face-to-face and virtual care for patients with type 2 diabetes.
- Take a look at the 10-slide pitch deck he used to raise funds.
A startup offering a mix of face-to-face and virtual care for type 2
diabetes
patients just raised $3.4 million in seed funding.
Baltimore-based Ryse Health, which launched last year, has built an in-house team of doctors, including endocrinologists, dieticians and health coaches who provide advice on coping with chronic disease. Once patients are registered with your clinic, they can meet with the care team in person to set up the technical components of their care plan, including continuous glucose monitoring and an app that tracks their progress during their treatment. .
Many of Ryse’s users choose to meet their doctors in person, but the startup also allows them to access support via video call.
Type 2 diabetes
it can be controlled through exercise, diet regulation, and blood sugar control, but some patients also require specialized care.
“When people think of the solution for type 2 diabetes, the VC world sees the litany of virtual-only platforms,” said Ryse co-founder and CEO Richard Gurley. “On the contrary, you could say that most patients are seen by endocrinologists, and their only option is to see them in person. We see ourselves as the best of both worlds.”
The startup operates a fee-for-service model in which it makes money from patient visits, dietary advice and continuous glucose monitoring (CGM) data collection, but Gurley noted that the company is still deciding on a payment model. income based on your results in the coming year.
The round was led by US venture capital firm W Health Ventures, which previously backed
digital health
startups BeatO and Jasper. Additional backing came from nonprofit LifeBridge Health and health-tech-focused venture capital firm Healthworx, which has backed emocha Health and Pair Team.
This brings his total funding to $5.73 million.
Health tech startups in the US had a banner year in 2021. Globally, diabetes-focused startups raised a record $2.4 billion as the pandemic boosted forms of healthcare more inclusive and innovative, according to data from Dealroom. With the fresh capital, Ryse Health will focus on expanding in the US over the next three to five years and prepare for its Series A fundraiser.
Take a look at the 10-slide platform used to secure the capital.