knownwell, a leader in obesity medicine and weight-inclusive primary care, announced it has raised $25 million in an oversubscribed, strategic-led financing round. The investment was led by CVS Health Ventures, with participation from MassMutual Catalyst Fund, Intermountain Ventures, and other investors, alongside continued backing from existing supporters a16z Bio + Health and Flare Capital Partners.
The new funding brings knownwell’s total capital raised to over $50 million and marks a pivotal milestone as the company expands its innovative care model nationwide.
As part of the round, Oak Street Health co-founder Geoff Price has joined knownwell as an investor and independent board member. His extensive experience in value-based healthcare is expected to strengthen knownwell’s mission to deliver high-quality, accessible care for patients living with obesity.
Obesity-related conditions cost the U.S. healthcare system more than $260 billion annually. Existing industry approaches — often centered on prescriptions or utilization management — have proven insufficient to address the complex, multifaceted nature of obesity. knownwell’s physician-led model, developed by co-founder and Chief Medical Officer Dr. Angela Fitch, the Immediate Past President of the Obesity Medicine Association, takes a comprehensive, patient-centered approach that integrates medical, behavioral, and nutritional care.
The financing underscores growing confidence among healthcare investors in knownwell’s ability to deliver measurable outcomes for patients while reducing costs for payers, health systems, and insurers. The company’s hybrid model — combining in-person clinics with virtual care — offers patients convenient access to specialized obesity and metabolic health treatment, supported by evidence-based medicine.
Over the past 18 months, knownwell has expanded from its Massachusetts base into Georgia, Illinois, and Texas, and now offers virtual care in all 50 states.
KEY QUOTES:
“Our model demonstrates that when you treat people with respect and deliver truly evidence-based obesity care, patients engage in unprecedented ways – delivering sustained and significant health improvements. Being backed by a leading payer is a powerful validation of that approach. Our growth, our patients’ outcomes, and the countless stories we hear every day are confirmation that reshaping healthcare for patients with obesity isn’t just possible, but it’s already happening.”
Brooke Boyarsky Pratt, Co-Founder and CEO, knownwell
“The ability to deliver comprehensive and longitudinal care at scale is exactly what payers and health systems need to address one of the most pressing drivers of high costs and poor outcomes in healthcare today. We see this as more than an investment. This is an approach that can transform how obesity is treated across the country.”
Alyssa Reisner, Partner and Executive Director, CVS Health Ventures
“Obesity care is the next frontier of value-based care, and knownwell is building the care model that can work for patients, providers, and payers alike.”
Geoff Price, Co-Founder of Oak Street Health and Independent Board Member, knownwell
“Health systems are on the front lines of obesity’s impact, from access constraints to complex patient needs. Traditional approaches simply aren’t enough. We need care models that integrate seamlessly with our existing care delivery network and deliver measurable results.”
Sheralee Petersen, AVP, Clinical Programs, Intermountain Health
“We believe knownwell is addressing one of the most pressing health challenges of our time. By combining clinical expertise with innovative models of care, knownwell is building a platform at the forefront of obesity and metabolic health treatment.”
Nickolas Mark, Co-Founder and Managing Partner, Intermountain Ventures
