- Baltimore-based Ryse Health has raised a $3.4 million seed round from W Health Ventures.
- The startup offers face-to-face and virtual care for patients with type 2 diabetes.
- Check out the 10-slide pitch deck used to raise the funds.
A startup that offers a combination of face-to-face and virtual service for type 2
patients have just raised $3.4 million in seed funding.
Baltimore-based Ryse Health, launched last year, has built an in-house team of physicians, including endocrinologists, nutritionists and health coaches who provide advice on managing chronic illness. Once registered at your clinic, patients can meet face-to-face with the care team to configure the technical components of their care plan, including continuous glucose monitoring and an app that tracks their progress during treatment.
Many of Ryse’s users choose to meet their doctors in person, but the startup also allows them to access support via video call.
it can be managed through exercise, diet regulation and blood sugar monitoring – but some patients also need specialist care.
“When people think about the solution to type 2 diabetes, the VC world sees the litany of virtual-only platforms,” said Ryse co-founder and CEO Richard Gurley. “On the other hand, it can be said that most patients are treated by 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-for-service model in which it earns money from patient visits, dietary advice and obtaining continuous glucose monitoring (CGM) data — but Gurley noted that the company is still deciding on a revenue model based on its results next year.
The round was led by US venture capital firm W Health Ventures, which had previously supported
startups BeatO and Jasper. Additional support came from the nonprofit LifeBridge Health and the healthtech-focused venture capital firm Healthworx, which supported emocha Health and the Pair Team.
This brings its total funding to $5.73 million.
Healthtech startups in the US had a standout year in 2021. Globally, diabetes-focused startups raised a record $2.4 billion as the pandemic pushed for more inclusive and innovative forms of healthcare, according to with data from Dealroom. With the new capital, Ryse Health will focus on US expansion over the next three to five years and prepare for its Series A fundraiser.
Check out the 10 slide deck used to protect the capital.