Gilde Healthcare leads $39 million in Series B financing in Big Health
SAN FRANCISCO, CA (US), UTRECHT (THE NETHERLANDS) – Big Health, the global leader in digital therapeutics dedicated to helping millions back to good mental health, today announced it has raised $39 million in a Series B financing, led by Gilde Healthcare and joined by new investors Morningside Ventures and Samsung NEXT as well as existing investors Kaiser Permanente Ventures (KPV) and Octopus Ventures. Big Health will use the funds to invest in new product development, expand its distribution channels, and scale its commercialization activities.
“We’re excited about the mission of Big Health to provide fully automated mental health solutions to millions of people worldwide,” said Janke Dittmer of Gilde Healthcare who has joined the Big Health board. “Our investment philosophy is to support fast-growing, global businesses that deliver better care at lower cost and Big Health is a perfect fit.”
Big Health recently announced key findings from a health economic evaluation of Sleepio at a Fortune 500 company demonstrated 28% lower total annualized healthcare costs in the cohort of Sleepio users, as compared to the matched control group.
“We entered 2020 having doubled our revenues in 2019,” said Peter Hames, Big Health co-founder and chief executive officer. “That’s because customers such as Target, Comcast and The Home Depot recognize that our digital therapeutics can fill a growing gap in their portfolio of mental health benefits.”
About Big Health
Big Health was founded by entrepreneur Peter Hames and Professor Colin Espie, the world sleep expert whose published research helped Peter overcome his insomnia. Our purpose is to help millions back to good mental health. Our “digital therapeutics” — Daylight™, for worry & anxiety, and Sleepio™, for poor sleep — are fully automated, scalable cognitive and behavioral programs. Our products combine the intimacy of the human voice, engaging animation, and clinically rigorous techniques to help people overcome their mental health challenges. Big Health’s products are backed by 50 published clinical papers including 13 randomised controlled trials (RCTs), and are cited in leading clinical guidelines including the American College of Physicians and NICE. Today, over 12 million people worldwide have reimbursed access to Big Health’s products, via leading employers in the US and the UK’s NHS. For additional information, please visit www.bighealth.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.