Total amount raised
$127.6 Millions
Latest funding date
11/01/2023
Location
Calibrate has successfully raised funds from 10 investors, including Madryn Asset Management and Samsung NEXT, with the latest round being a Private Equity round that closed on November 1, 2023. The company is dedicated to changing the way the world treats weight through its digital metabolic health program.
Keep reading to explore the intricacies of Calibrate's fundraising journey and the investors backing this innovative platform.
What Is Calibrate?
Calibrate, founded in June 2020 by Isabelle Kenyon, is a digital metabolic health company based in New York, New York. The company operates within the health care, personal health, and wellness industries.
With a team of 251-500 employees, Calibrate aims to revolutionize weight treatment through a virtual program that combines FDA-approved metabolic medication with a holistic curriculum and 1:1 virtual coaching sessions. The program is designed by leading experts in obesity and nutrition science to ensure long-term, sustainable weight loss by improving metabolic health.
How Much Funding Has Calibrate Raised?
- Seed Round
- Amount Raised: $5.1M
- Date: June 2020
- Lead Investors: Forerunner
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its digital metabolic health program.
- Series A
- Amount Raised: $22.5M
- Date: January 2021
- Lead Investors: Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the virtual coaching platform.
- Series B
- Amount Raised: $100M
- Date: August 2021
- Lead Investors: Founders Fund, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and reach a broader market.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product development.
- Private Equity Round
- Amount Raised: $29M
- Date: November 2023
- Lead Investors: Madryn Asset Management, Samsung NEXT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To restructure and drive strategic growth initiatives.
Total Amount Raised: $156.6M. Current Valuation: Not publicly disclosed.
Key Investors
- Founders Fund
- Details: Founders Fund is a venture capital firm known for investing in companies with transformative potential.
- Investment Focus Areas: Technology, healthcare, transformative industries.
- Notable Investments: SpaceX, Palantir Technologies, Facebook.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Stripe, ByteDance, JD.com.
- Threshold
- Details: Threshold is a venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Box, Doximity, Front.
- Forerunner
- Details: Forerunner is a venture capital firm that focuses on investing in early-stage companies, particularly in the consumer sector.
- Investment Focus Areas: Early-stage consumer companies.
- Notable Investments: Warby Parker, Glossier, Dollar Shave Club.
What's Next for Calibrate?
Calibrate's recent $29 million raise as part of a private equity restructuring opens up significant opportunities for growth and expansion in the weight loss and health tech sectors. This funding will enable the company to scale its operations, invest in new technologies, and potentially expand its market reach.
Future fundraising opportunities are likely, as the company continues to grow and develop. The restructuring may also pave the way for strategic partnerships and collaborations, further enhancing Calibrate's capabilities and market position.
However, challenges such as competition from other weight loss and health tech companies, regulatory hurdles, and the need to effectively manage and allocate the new funds could pose obstacles. Navigating these challenges will be crucial for Calibrate's sustained success and growth in the industry.
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