DOWNERS GROVE, Ill. and MILWAUKEE and SAN FRANCISCO, March 25, 2021 /PRNewswire/ -- Foodsmart, the personalized telenutrition and foodcare leader, has announced a Series C funding of more than $25M led by Advocate Aurora Enterprises, a newly launched subsidiary of Advocate Aurora Health, one of the largest health systems in the United States.
Foodsmart combines the largest national network of registered dietitians, personalized meal planning and the broadest food marketplace to make eating well simple and affordable. Foodsmart supports more than 1.25 million members from over 650 employers plus regional and national health plans, facilitating healthcare cost savings. To help overcome growing food insecurity and inequity, Foodsmart helps families leverage price comparison, discounts, healthy food directed spend and newly online accessible SNAP benefits with partners like Walmart, Amazon and local grocers through Instacart. Foodscripts are also issued on the platform to enhance disease management, leveraging subsidies of clinically validated diets and care coordination to help users affordably and sustainably overcome obesity, hyperglycemia, hyperlipidemia, hypertension and chronic diseases that increase the risk of COVID-19 mortality.
This strategic growth investment is the first for Advocate Aurora Enterprises, which the Illinois- and Wisconsin-based Advocate Aurora Health recently established to invest in businesses that enable people to improve their health and well-being beyond traditional clinical care settings.
"You're going to see us continue to invest in health-related businesses designed to make us a destination health company, not just providing hospital, doctor and home care services but where people can look to us for all their health care needs," said Advocate Aurora Health President and CEO Jim Skogsbergh. "Healthy habits are built in people's homes and, increasingly, on their phones. Our investment in Foodsmart reflects this whole-person health approach by enabling people to take greater control of their wellness on their own terms."
Foodsmart's Series C round also included participation from Mayfield Fund, Seventure Partners (Health for Life Capital), New Ground Ventures, Benefitfocus Founder Shawn Jenkins, Classpass CEO Fritz Lanman and former Darden Restaurants CEO Clarence Otis. Leading social impact investors The Social Entrepreneurs Fund (TSEF) and Larry Berger, CEO of Amplify, participated to support Foodsmart's drive to make healthy eating affordable and accessible. TSEF Managing Director Liz Luckett said, "We love to invest in companies that can achieve profitability like Foodsmart, while having a core focus on delivering impact--including for low-income members, at scale."
"Food is medicine and critical to our health, yet the act of feeding ourselves and our families can be stressful, complicated and expensive," said Jason Langheier, MD, MPH, the CEO and Founder of Foodsmart. "Foodsmart takes the guesswork out of food buying that is sustainably affordable and addresses specific health needs. That's why we're thrilled to be Advocate Aurora Enterprises inaugural investment towards 'whole person wellness' and to be partnering with a leader in value-based medicine to weave foodscripts into modern step therapy standards of care."
Advocate Aurora Enterprises is focusing its investments in three key categories: aging independently, parenthood and personal performance.
"Food and nutrition touch all three categories, which is why Foodsmart is an ideal first partner," said Advocate Aurora Enterprises President Scott Powder, who will be joining Foodsmart's Board of Directors as part of the transaction. "We want to propel and scale opportunities that enable aging seniors to thrive safely, comfortably, affordably and independently; support parents in raising healthy and happy kids with greater confidence; and help people achieve their mind, body and nutrition goals. We're eager to partner with innovators focused on these shared ideas."
Zipongo Inc, dba Foodsmart, is eating well made simple. We are the world's largest telenutrition and foodcare solution, backed by a national network of Registered Dietitians and designed to yield consistently healthier food choices, lasting behavior change and long-term results. Foodsmart's fully customizable app-based platform guides members through a personalized journey to eating well while saving them time and money. Foodsmart seamlessly integrates dietary assessments and nutrition counseling with online food ordering and cost-effective meal planning for the whole family that makes the most of ingredients at home and on the go. Learn more at www.foodsmart.com.
About Advocate Aurora Enterprises
Advocate Aurora Enterprises is a subsidiary of Advocate Aurora Health, one of the 12 largest not-for-profit, integrated health systems in the nation. It is responsible for advancing the system's purpose of helping people live well through a commitment to Whole Person Health. Its three focus areas include: Aging Independently, enabling aging seniors to thrive safely and comfortably in their homes; Parenthood, supporting parents in raising healthy and happy kids with less stress and greater confidence; and Personal Performance, helping people to achieve their mind, body and nutrition goals. Learn more at aah.org/advocateauroraenterprises.
SOURCE Advocate Aurora Enterprises