Found, a San Francisco, CA-based modern weight care platform, raised $100M in Series B funding.
The round was led by WestCap, 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 Fidji Simo, CEO of Instacart, and Julia Cheek, CEO of Everly Health.
The company intends to use the funds to expand operations and its business reach.
Found is a comprehensive 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, the company is equipping Americans with the resources they need, including FDA approved medication and individual coaching, to achieve lasting weight loss.
As part of the news, Found is adding Dr. Rekha Kumar as its first Chief Medical Officer. Dr. Kumar is a globally recognized leader in Obesity Medicine and a practicing endocrinologist and obesity medicine specialist. She previously served as the Medical Director of the American Board of Obesity Medicine and is an Associate Editor of The Journal of Obesity. She is Board Certified in Internal Medicine, Obesity Medicine, and Endocrinology.
Dr. Acacia Parks is also joining Found as Chief Behavioral Health Officer. Dr. Parks was previously Chief Science Officer at Happify Health, which provides digital therapeutic and care delivery solutions to improve mental and physical health. She has her PhD in Psychology from University of Pennsylvania, where she trained under Dr. Martin Seligman and co-authored several seminal papers on positive psychology.
The new leadership additions on the medical side of the business announced today follow other key appointments made earlier this year. Found recently announced Sarah Jones Simmer as CEO two months ago, following her roles as Chief Operating Officer and Chief Strategy Officer of Bumble. Prior to that, Alexandre Linares joined Found as Chief Product Officer, following his role as VP of Product at Headspace.
FinSMEs
16/12/2021