- Baltimore-based Ryse Health raised a $3.4 million seed round from W Health Ventures.
- The startup offers in-person and virtual care for type 2 diabetes patients.
- Check out the 10-slide pitch deck it used to raise the funds.
A startup that offers a combination of in-person and virtual care for type 2
diabetes
patients just raised $3.4 million in seed funding.
Baltimore-based Ryse Health, which was launched last year, has built an in-house team of physicians, including endocrinologists, dieticians, and health coaches who provide advice on how to deal with the chronic disease. Once patients are registered in their clinic, they can meet the care team in person to set up the technical components of their care plan, including a continuous glucose monitoring and an app that tracks their progress during their treatment.
Many of Ryse’s users choose to meet their physicians in person but the startup also enables them access support via video call.
Type 2 diabetes
can be managed through exercise, diet regulation, and monitoring blood sugar — but some patients also need specialist care.
“When people think of the solution for type 2 diabetes, the world of VC sees the litany of virtual-only platforms,” said Ryse cofounder and CEO Richard Gurley. “Conversely, you could say that most patients are managed through endocrinologists, and their only option is to see them in person. We see ourselves as combining the best of both worlds.”
The startup operates a pay-per-service model where it makes money from patient visits, dietician counseling, and obtaining continuous glucose monitoring (CGM) data — but Gurley noted that the company is still deciding on a revenue model based on its results in the coming year.
The round was led by US VC firm W Health Ventures, which has previously backed
digital health
startups BeatO and Jasper. Additional backing came from non-profit organization LifeBridge Health and healthtech focused VC firm Healthworx, which has backed emocha Health and Pair Team.
This brings its total funding up to $5.73 million.
Healthtech startups in the US had a banner year in 2021. Globally, diabetes-focused startups raked in a record $2.4 billion as the pandemic pushed for more inclusive and innovative forms of healthcare, per Dealroom data. With the fresh capital, Ryse Health will focus on expanding in the US over the next three to five years and prepare for its Series A fundraise.
Check out the 10-slide deck used to secure the capital.
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