Healthrageous, a personalised health technology company, has completed a USD6m series A financing led by North Bridge Venture Partners along with investment partners Egan Managed Capital and Long River Ventures.
Proceeds will be used to commercialise a health technology platform that provides personalised, interactive, motivational self-management tools which help individuals shed unhealthy habits, improve their adherence to medical advice, and embrace healthy lifestyles.
Healthrageous combines wireless biometric sensors, smart phones, individualised coaching, incentive programmes and social network support.
Its technologies were developed and tested at the Center for Connected Health, a division of Partners HealthCare, founded by Brigham and Women’s Hospital and Massachusetts General Hospital.
"To date, the solutions have enjoyed highly-visible industry attention. Our core platform demonstrates clinical effectiveness and a strong value proposition by improving health outcomes, reducing healthcare costs and creating a measurable return on investment for our customers," says Rick Lee, chief executive officer, Healthrageous. "Our key focus is supporting healthy lifestyles. More than half of all chronic medical conditions develop as a result of unhealthy behaviours. These conditions represent hundreds of billions of dollars in avoidable healthcare costs annually."
Bill Geary of North Bridge Venture Partners, Jack Egan of Egan Managed Capital, and Will Cowen of Long River Ventures have joined the company’s board of directors. It is expected that Dr. Joe Kvedar, founder and director of the Center for Connected Health at Partners Healthcare, will also join the board of directors.
"This is an entrepreneurial management team with a novel yet scientifically validated approach that we believe will make a tremendous difference in helping people stay healthy, while delivering value for customers, employers, employees, and investors," says Geary.
