Digital health company Big Health snares $12M in financing round

Big Health, a digital health company based in San Francisco and London, said it raised $12 million in a new round of fundraising that was led by Octopus Ventures along with Kaiser Permanente Ventures.

The fundraising round also included returning investor Index Ventures, as well as Sean Duffy, CEO of Omada Health, and JamJar Investments, the company said.

Founded in 2010, Big Health touts itself as the first digital medicine company that automates behavioral medicine programs to make them scalable and accessible to patients. The company’s lead product is Sleepio, a digital sleep improvement program that uses cognitive behavioral therapy techniques the company claims is clinically proven to help overcome poor sleep habits without the use of drugs.

“This new investment allows us to push on towards our goal of helping millions back to good mental health by growing the number of companies we work with and evolving our products to help address an ever-wider range of mental health issues,” Peter Hames, co-founder and CEO of Big Health, said in a statement. “But we'll only achieve this goal--and firmly establish a new 'digital medicine' industry--by remaining committed to evidence-based solutions that deliver real outcomes for users.”

In its first year in the U.S. market, Sleepio was distributed to more than 750,000 employees at companies that include Comcast ($CMCSA), LinkedIn ($LNKD), Boston Medical Center and the Henry Ford Health System, the company said. The National Business Group on Health recently selected Big Health to present to employer members at its Health Innovations Forum.

- check out the release

Related Articles:
FDA clears novel insomnia device, slated for 2017 launch 
FDA clears devices to reduce snoring in patients without sleep apnea 
Newly FDA-cleared device treats sleep apnea, tracks patient compliance