CULINA HEALTH ANNOUNCES $4.75M IN FUNDING TO DEMOCRATIZE ACCESS TO CLINICAL NUTRITION
31 May, 2022, 09:52 ET
Personalized nutrition platform Culina Health, the only platform of its kind founded by Registered Dietitians, closed a $4.75M funding round from leading investors including Rethink Impact
NEW YORK, May 31, 2022 /PRNewswire/ -- Culina Health, co-founded by Registered Dietitian Vanessa Rissetto and Steven Kuyan, announces today it has secured $4.75M in seed funding after 18 months of bootstrapped growth to a 20 practitioner practice, delivering over 18,000 sessions to date. The personalized nutrition platform is exclusively powered by registered dietitians committed to making clinical nutrition accessible to millions of everyday Americans.
Funding is co-led by Healthworx, the investment and innovation arm of CareFirst BlueCross BlueShield (CareFirst), and Brooklyn Bridge Ventures, with additional participation by Rethink Impact, Tensility Ventures, Alpine Meridian Ventures, Knightsgate Ventures, Graham & Walker, Arkitekt Ventures, and Redo Ventures. Culina Health is the first digital nutrition platform to receive funding from a venture group affiliated with an insurance payer, in this case, Blue Cross Blue Shield.
Mortality rates from heart and metabolic disease are at an all-time high, despite the fact that science has shown that nutrition can play a powerful role in preventing or even reversing certain conditions. However, insurers are slashing consumer nutrition benefits due to a lack of care consistency and measurable outcomes. Culina Health is the only platform in the market providing clinical-level, integrated care management in a scalable and cost-efficient way. Over the next five years, demand for clinical nutrition services is forecasted to multiply due to continued societal emphasis on disease prevention through healthy dietary habits, which will be amplified by lingering effects of the coronavirus pandemic.
Culina Co-CEO , Vanessa Rissetto, who feels that, “to date, tech companies who focus on nutrition have taken personalization out of the equation and focused on fads and/or “one-size-fits-all” solutions. What have we gotten out of that? An obesity rate that has increased 30% in the last 30 years (12.2% in 1991 to 42.4% in 2021) and one-third of the U.S. population with Type 2 diabetes - preventable conditions that can be resolved with care from a dietitian. Registered dietitians haven’t been seen as an integral part in prevention and we see that as a huge missed opportunity in this $78BN market. We are excited to work with investors who share our vision and want to help Culina reach the 88% of the US population that needs the support of a Registered Dietitian.”
Culina Health is covered by most major insurance plans, also making it more affordable and accessible than other consumer nutrition platforms. Heidi Patel from Rethink Impact stated, "we invest in female leaders using evidence-based solutions to deliver innovations to the communities who need them most. We love that Culina works alongside existing care providers and insurers to provide personalized, tech-enabled nutritional care for its patients, many of whom make less than $50,000 a year. Vanessa and Steve, and their team, have developed an impactful care delivery methodology that will drive compelling health outcomes for millions of patients."
Doba Parushev, Director of Venture Capital at Healthworx stated, "We are excited to invest in Culina Health at this pivotal moment. For people who are living with chronic conditions, and especially GI and autoimmune ones, managing care can be daunting. Getting symptoms under control while balancing labwork, specialist visits, nutrition, lifestyle modifications, medication - it is often a stressful and overwhelming process. Culina's ability to use registered dietitians for complex care support has the potential to change all of this. Working with and alongside people's existing care providers, Culina not only addresses nutritional needs in a personalized and scalable way, but ensures that the entire journey - from diagnosis to treatment to management - is as seamless, efficient, and effective as possible. Vanessa and Steve's team, the differentiated product they have built, and their impactful care delivery methodology are all the right ingredients to deliver compelling results and change the lives of patients."
Funds from this round will be used to continue to invest in product development, technology and expansion.
About Culina Health
Culina Health is a personalized nutrition platform powered by registered dietitians to help patients prioritize the way they want to live. We make insurance-covered nutrition care accessible and easier to understand so that patients can fuel a satisfying & well balanced life. Culina Health is based in Hoboken, NJ and has patients across the United States. Culina Health's mission is to make nutrition accessible to all and sustainable for everyone. For more, visit: https://culinahealth.com/.
Healthworx operates at the intersection of healthcare and innovation by creating, co-creating, and investing in companies that are improving healthcare quality, accessibility, and affordability. As the innovation and investment arm of CareFirst, Healthworx envisions a healthier future for all people by changing the way health works. Learn more at www.healthworx.com
About Rethink Impact
Rethink Impact is the largest venture capital firm in the country investing in female and non-binary leaders using technology to tackle global challenges. We believe that the next generation of extraordinary companies will find success through their relentless pursuit of mission, for the benefit of all communities. Learn more at www.rethinkimpact.com
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SOURCE Culina Health
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