Bold – a leading healthy aging platform – recently announced $17 million in Series A funding led by Rethink Impact, with participation from Samsung Next and existing investors Andreessen Horowitz (a16z) Bio + Health, Khosla Ventures, GingerBread Capital, and Primetime Partners, bringing the total amount raised to $27 million. The funding round will be used to support Bold’s continued expansion with national and regional Medicare plans and provider groups, and accelerate the growth of its clinical exercise offerings to support the diverse physical and mental health needs of older adults.
Bold provides each member with a personalized, evidence-based exercise program to prevent falls, reduce musculoskeletal pain and disability, and increase physical activity levels. And the company partners with innovative Medicare plans and providers to support underserved members, many of whom suffer from chronic conditions, mobility issues, and pain. Utilizing dynamic adjustments and sophisticated behavioral science, the company’s platform engages members continuously as they build sustainable habits that provide lasting impact.
This funding round comes on the heels of a breakthrough year for Bold, with the company’s services now covering over 10 million lives. Even as Bold has grown significantly, the company has maintained high standards of execution, including:
1.) Delivering industry-leading outcomes – Bold’s platform has been shown to drive a 46% reduction in falls and a 182% increase in members’ weekly physical activity levels
2.) Delighting members and improving Star Ratings – Bold has a 91% member satisfaction rate, and nearly 8 of 10 members would be more likely to choose a Medicare plan that offers Bold
3.) Driving tangible impact for its partners – Bold’s highly engaging, outcome-oriented programs offer payer and provider partners a >2:1 clinical ROI in year 1
In peer-reviewed research, Bold’s programs demonstrated a 46% reduction in falls, which impact more than one in four Americans over the age of 65 each year and result in $50 billion in costs, more than Medicare’s annual spending on cancer. And with less than 15% of older adults in the U.S. meeting recommended physical activity guidelines, evidence is widespread that Bold’s pioneering, movement-as-medicine approach can provide durable, cost-effective healthspan improvements for older adults. According to the CDC, 4 out of 5 of the most costly chronic conditions among adults 50 years or older can be prevented or managed with physical activity and Bold will use this funding round to accelerate its impact on these costly conditions within its healthy aging platform.
KEY QUOTES:
“Millions of older adults spend years in poor and declining health brought on by falls, pain, and other chronic conditions, representing a growing disconnect between quality of life and overall longevity. Bold was designed to increase healthspan for older adults, offering accessible, easy-to-follow programs that improve strength, reduce falls, and promote lifelong well-being.”
– Amanda Rees, Co-founder and CEO of Bold
“Bold is at the forefront of a new paradigm in preventive health care for older adults that is founded in deep empathy for members and a thorough understanding of cutting-edge health science. As the nation’s population continues to age and Medicare costs balloon, we desperately need innovative, evidence-based solutions like Bold that meet people where they are and drive value across the healthcare system, from members to providers to payers.”
– Jenny Abramson, Founder and Managing Partner of Rethink Impact, who is joining Bold’s Board of Directors
