Ilant Health, a virtual obesity management company, announced Wednesday that it extended its seed round from $3 million to $5.5 million.
New York City-based Ilant Health is a value-based care company that launched in October. It serves employers and government payers across all 50 states. The company identifies members and employees who would benefit from obesity treatment and matches those patients to the care that is best for them (taking into account medical, behavioral and social factors). Its treatment options include intensive behavioral therapy, pharmacotherapy (including GLP-1s and non-GLP-1s) and bariatric surgery. Patients also receive virtual access to obesity medicine physicians, mental health practitioners, nutritionists and peer navigators.
The extended seed round included participation from LifeX Ventures, Celtic House Asia Partners and Cornucopian Capital. The initial seed round included Nick Loporcaro, president and CEO of Global Medical Response; Brandon Kerns, CFO of CareBridge, Russell Street Ventures, and Main Street Health; and Matt Klitus, CFO of Lyra Health.
Rika Christanto, partner of LifeX Ventures, chose to invest in Ilant Health because of its founders, Elina Onitskanky (CEO) and Jessica Muse (COO). All three went to Harvard University.
“At LifeX, we deeply analyze tech breakthroughs and systemic shifts in healthcare. But it’s very hard to sift good founders from bad. So it was a serendipitous moment when I learned that Elina and Jess, classmates whom I have repeatedly seen manage difficult situations and reliably achieve the impossible, were building a company together,” Christanto said in a statement. “Their combined experience made them uniquely positioned to solve this health epidemic in a scalable way and gain commercial traction at a level we have rarely seen for a company at this stage.”
Onitskanky told MedCity News that the extended seed round is meaningful because it “comes from people who really understand healthcare well and also know our team well — there is no greater show of confidence than to be invested in by the experts.” The funding will be used to support business development and growth, she said.
The announcement comes at a time when weight management programs and GLP-1s are getting a lot of attention in the healthcare industry. Several other companies are offering obesity care programs as well, including Found and Noom. Many healthcare experts are also emphasizing the importance of personalization when it comes to weight management, whether that be through medications, lifestyle changes or other interventions.
Onitskanky said Ilant Health’s ultimate goal is to “transform cardiometabolic health in this country, as we know how imperative this will be in addressing overall health, longevity and healthcare costs.”
Picture: Feodora Chiosea, Getty Images
