The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.
BetterUp acquires leading emotion AI and people technology companies
Virtual health coaching platform BetterUp, has acquired two advanced technology software companies, Motive and Impraise. The merging of the companies and their teams will further enable BetterUp to harness their powerful combination of technology and human insight to help people maximize their potential.
The acquisitions come shortly after BetterUp reached one million individual coaching sessions, passed $100m in annual recurring revenue and announced its official expansion to Europe with offices in Munich and London.
Lizzo, Justin Timberlake & others pour $200m into Hydrow
High profile backers including Justin Timberlake and Lizzo have poured $200m into connected rowing company Hydrow. Funding will be used to make sure it has enough product to meet the anticipated demand this holiday season.
According to Bloomberg, the company is currently in talks to go public through a merger with special purpose acquisition company Sandbridge X2 Corp., in a deal that would value the combined entity at more than $1bn.
EGYM snags $41m in growth equity to accelerate digitisation of fitness
EGYM, a leading global fitness technology developer, has received $41m in a Series E financing round from Mayfair Equity Partners. Following the investment, Mayfair Equity Partners will own a minority stake, along with existing investors HPE Growth, Highland Capital Europe, Kreos, and others. Additional financial details have not been disclosed.
Funds have been earmarked for expansion of its product portfolio and to further increase its competitive edge.
Misfits Market closes $225m funding round
The investment brings the company’s valuation to $2bn and the overall funding raised by Misfits Market to $526.5m. The additional capital will be used to fuel nationwide expansion and increase the selection of items available to customers as Misfits Market builds a complete online grocery platform.
Psychedelics company Journey Clinical secures $3m in seed funding
Journey Clinical, a US-based psychedelics company has raised $3m in a seed round led by VC firm Fifty Years. Neo Kuma Ventures, Palo Santo, PsyMed Ventures, Lionheart Ventures, Christina Sass co-founder of Andela, Edvard Engesæth, MD co-founder of Nurx and, Hans Gangeskar co-founder of Nurx, also participated.
The startup, which provides psychedelic-assisted psychotherapy, plans to use the capital to further its mission of enabling psychotherapists to offer psychedelic therapies.
Spring Health reaches $2bn valuation following $190m financing round
Mental health company Spring Health has raised $190m in Series C funding, bringing its valuation to $2bn.
Kinnevik led the round and was joined by The Guardian Life Insurance Company of America, Tiger Global, Northzone, RRE Ventures, Rethink Impact, Work-Bench, William K Warren Foundation, SemperVirens, Able Partners, and True Capital Ventures.
The company currently serves over 150 companies, from startup’s to multinational Fortune 500 corporations, and is a preferred mental health provider to PepsiCo, General Mills, Bain and Instacart.
Virtual Reality startup WIN Reality secures $3.75m
WIN, which makes peak performance accessible through its cutting-edge solution that allows athletes to train in virtual reality at full game speed, will use the capital to fuel further customer growth
Eat Just adds $97m to $200m funding round in may
Eat Just, a company that applies cutting-edge science and technology to create healthier, more sustainable foods, has raised $97m, bringing its previous funding round in May to $267m. Resilience Reserve, UBS O’Connor and Graphene Ventures participated in the round.
It will use the capital to advance its work on cultured meat.
Digital health startup Mae nabs $1.3m to support black mothers
Mae, a digital health platform that provides pregnancy and postpartum support for black mothers has launched with $1.3m in pre-seed funding. The round was led by SteelSky Ventures and featured participation from Avestria Ventures, MBX Capital, Rhia Ventures, and the Social Starts Health and Happiness Fund.