The obesity epidemic continues to skyrocket in the U.S. and is one of the biggest problems facing public health.

And there is greater urgency to address the problem fueled by the global pandemic, which has led to the average American gaining 30 pounds.

The traditional approach to weight loss that focuses exclusively on diet and exercise has not been able to move the needle, according to Sarah Jones Simmer, CEO of weight care management startup Found.

The company, which emerged out of stealth in September, offers a science-backed solution for personalized, lasting weight care that addresses the missing link in the existing weight loss market: biology. 

With doctors, nurses, coaches and a supportive community, Found is equipping Americans with the resources they need, including FDA-approved medication and individual coaching, to achieve lasting weight loss. On average, Found members have lost 10% of their weight by the sixth month and have kept it off. In total, members have lost nearly 300,000 pounds with Found to date, according to the company.

The startup landed $100 million in series B funding to fuel its growth. The investment was led by WestCap, a growth equity firm founded by former Blackstone and Airbnb executive Laurence A. Tosi, with participation from IVP, The Chernin Group, G9 Ventures and Able Partners as well as existing investors at GV, Define and founding investor Atomic. Angel investors in the round include Fidji Simo, CEO of Instacart, and Julia Cheek, CEO of Everly Health.

Found has raised more than $132 million to date, and, with the latest funding, it is now valued at $600 million.

Jones Simmer jumped on board at Found to serve as CEO after helping to “quarterback” Bumble’s initial public offering as its chief operating officer turned chief strategy officer.

The company also brought on board Rekha Kumar, M.D., as its first chief medical officer and Acacia Parks, Ph.D., previously chief science officer at Happify Health, as its new chief behavioral health officer. 

“At Found, our mission is to dismantle the diet culture and help people find lasting weight loss through the best of modern medicine and personalized support,” Jones Simmer said. “With our latest funding and talented new clinical leaders, we’re making meaningful progress toward helping people lead more fulfilling, happier lives through our innovative approach to weight care that drives lasting results.”

Here’s a snapshot of other health tech funding deals of more than $30 million in November and December 2021:

Online mental health: Launched just two years ago, Cerebral is growing rapidly, propelled by increased demand for behavioral health care services during …….

Source: https://www.fiercehealthcare.com/tech/health-tech-funding-snapshot-1