Paris (France) and Utrecht (The Netherlands) – Withings, an early pioneer of connected health devices , announced today that it raised a $60 million Series B funding round, co-led by Gilde Healthcare, Idinvest Partners and Bpifrance with additional support from BNP Paribas Developpement, Oddo BHF Private Equity and Adelie Capital.
Withings’ connected health devices enable the accurate and regular patient generated data collection, allowing consumers to monitor their own health and physicians to remotely monitor the health of their patients. Withings will use the investment to expand its position as a trusted intermediary between patients and healthcare professionals by investing in its dedicated business-to-business division Withings MED PRO and the development of the next generation of consumer health devices that bring medical grade and predictive capabilities into the home.
As Withings deepens its ongoing healthcare strategy, it will be guided by its newly appointed global Medical Advisory Board, comprised of eminent medical, research, and scientific leaders: Dr. John Halamka, President of the Mayo Clinic Platform, Dr. Stéphane Laurent, former Head of Clinical Pharmacology in Hôpital Européen Georges Pompidou in Paris, and Craig Lipset, former head of Clinical Innovation at Pfizer.
Edwin de Graaf, Managing Partner at Gilde Healthcare commented:
“With telemedicine on the rise, and the wider health industry’s growing need to collect and analyze accurate, reliable patient data, Withings is in a unique position to thrive and is an attractive investment for us. We look forward to working with the Withings team as they continue to redefine how patients and physicians interact.”
Founded by visionary innovators Eric Carreel and Cédric Hutchings in 2008, the Withings team of engineers, doctors, and health professionals invent the world’s most efficient devices to help track and analyze anyone’s vitals. The ecosystem range includes award-winning products across the health spectrum, including hybrid smartwatches and health trackers (Move, Move ECG, Steel, Steel HR, Steel HR Sport, Pulse HR), connected scales (Body Cardio, Body+, Body), blood pressure monitors (BPM Core and BPM Connect), and an advanced sleep system (Sleep Analyzer). Every piece of collected data comes to life in the free Health Mate app, where users can find coaching, motivation, and valuable insights to share with their doctors and shape key aspects of their health. For additional information, please visit www.withings.com
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com.