Knownwell secures US$25m to scale evidence-based obesity care across the US
US-based obesity medicine specialist Knownwell has raised $25m in an oversubscribed, strategic-led round as it looks to scale its weight-inclusive primary care model nationwide.
The financing was led by CVS Health Ventures, with participation from MassMutual Catalyst Fund, Intermountain Ventures and others. Existing investors a16z Bio + Health and Flare Capital Partners also joined the round, bringing Knownwell’s total funding to more than $50m.
As part of the raise, Oak Street Health co-founder Geoff Price has joined as an investor and independent board member, adding further value-based care experience to knownwell’s leadership team.
Obesity is estimated to cost the US healthcare system more than $260bn each year. Yet most market activity still centres on prescriptions-as-a-service or utilisation management – approaches that rarely address the complex medical, behavioural and social factors driving obesity and related metabolic conditions.
Knownwell positions itself as an alternative: a comprehensive, physician-led care model that combines obesity medicine, primary care and behavioural support. The model has been designed by co-founder and chief medical officer Dr Angela Fitch, immediate past president of the Obesity Medicine Association.
According to the company, the new investment signals growing recognition from payers, health systems and life insurers that managing obesity requires integrated, longitudinal care rather than siloed point solutions.
“Our model demonstrates that when you treat people with respect and deliver truly evidence-based obesity care, patients engage in unprecedented ways – delivering sustained and significant health improvements,” said co-founder and CEO Brooke Boyarsky Pratt.
“Being backed by a leading payer is a powerful validation of that approach. Our growth, our patients’ outcomes, and the countless stories we hear every day are confirmation that reshaping healthcare for patients with obesity isn’t just possible, but it’s already happening.”
Over the past 18 months, knownwell has expanded its hybrid care model beyond its origins in Massachusetts to Georgia, Illinois and Texas, while also launching virtual care in all 50 states. Alongside this expansion, the company reports a 90+ net promoter score, 91 per cent one-year patient retention and 93 per cent one-year sustained weight loss.
For payers and health systems facing rising costs associated with obesity and metabolic disease, the ability to deliver this type of longitudinal, outcomes-focused care at scale is becoming a strategic priority.
“The ability to deliver comprehensive and longitudinal care at scale is exactly what payers and health systems need to address one of the most pressing drivers of high costs and poor outcomes in healthcare today,” said Alyssa Reisner, partner and executive director at CVS Health Ventures.
“We see this as more than an investment. This is an approach that can transform how obesity is treated across the country.”
Price added: “Obesity care is the next frontier of value-based care, and knownwell is building the care model that can work for patients, providers and payers alike.”
From the provider perspective, integration with existing systems and measurable outcomes are key.
“Health systems are on the front lines of obesity’s impact, from access constraints to complex patient needs. Traditional approaches simply aren’t enough,” said Sheralee Petersen, AVP, clinical programmes at Intermountain Health.
Nickolas Mark, co-founder and managing partner of Intermountain Ventures, the health system’s venture and innovation arm, said: “We believe knownwell is addressing one of the most pressing health challenges of our time. By combining clinical expertise with innovative models of care, knownwell is building a platform at the forefront of obesity and metabolic health treatment.”
