- Cutback Coach — a new program focused on helping the 70% of US adults who regularly drink build healthier habits around alcohol consumption — announced that it has raised $3.1 million in seed funding
Cutback Coach — a new program focused on helping the 70% of US adults who regularly drink build healthier habits around alcohol consumption — announced that it has raised $3.1 million in seed funding. And the funding was led by Stephanie Palmeri of Uncork Capital. Other investors in the round include Nico Wittenborn of Adjacent Venture Capital; James Park, Founder of Fitbit; Mike Lee, Founder of MyFitnessPal; Logan Green, Founder and CEO of Lyft; Nir Eyal, author of Hooked and Indistractable; and angel investor Kevin Carter, and several others.
Cutback Coach was launched in early 2020 by Nick Allen and Ian Andersen after realizing there were few resources for those looking to build healthier habits around drinking, without seeking complete sobriety. And both founders grew up in households that were profoundly affected by alcohol, leaving them with a deep understanding of the impact alcohol can have when left unmanaged.
These experiences had set them on a journey to build a new mindful approach to alcohol health to better fit their lifestyles — and that of millions like them. And with nearly one-third of US adults over consuming alcohol at least once a month, the founders see an enormous opportunity to improve peoples’ lives.
Cutback Coach utilizes proven behavioral psychology strategies to support users in balancing their drinking to achieve health benefits including better sleep, weight loss, increased productivity, and more energy. And the program’s novel approach is delivered entirely via 2-way text message, providing an easy yet effective method for daily participation. During the 6-month beta program — in which thousands tested the product — users achieved a 29% average reduction in their weekly alcohol consumption after 4 weeks with Cutback Coach.
KEY QUOTES:
“Alcohol plays a big role in our culture, but until now, the vast majority of solutions have focused on drinkers who are looking to quit entirely. We saw a gap in the market for alcohol health and set out to build a proactive approach to help the 47% of US adults who want to reduce their alcohol consumption1, but enjoy drinking and don’t feel the need to quit entirely. Cutback Coach is creating a new wellness category around proactive alcohol health by connecting the dots for people about the role that alcohol plays in overall health and wellness.”
— Nick Allen, Co-Founder and CEO of Cutback Coach
“There is a massive, untapped opportunity to help millions of Americans build healthier, sustainable habits around their alcohol consumption. 3 out of 4 of us drank more in the past year as a result of the challenges we’ve collectively faced. An all-or-nothing approach doesn’t work for everyone, and Cutback Coach is uniquely positioned in this unprecedented time to change the conversation about alcohol and healthy habits. Nick and Ian bring a powerful combination of empathy, lived experience, and technical expertise to Cutback Coach, and I’m thrilled to join them on this journey.”
— Stephanie Palmeri, a partner at Uncork Capital
