BOSTON – knownwell, a nationwide leader in obesity medicine and weight-inclusive primary care, announced the close of a $25 million oversubscribed financing round led by CVS Health Ventures. The round included participation from MassMutual Catalyst Fund, Intermountain Ventures, and other investors, with continued support from existing backers a16z Bio + Health and Flare Capital Partners. This new funding brings knownwell’s total capital raised to more than $50 million.
Oak Street Health co-founder Geoff Price joined the round as an investor and independent member of the company’s board of directors. Price brings deep expertise in value-based healthcare that will help guide knownwell’s next stage of growth.
Patients living with obesity cost the U.S. healthcare system more than $260 billion annually, yet traditional models often fail to address the multifaceted medical and behavioral needs of this population. knownwell’s physician-led care model—developed by co-founder and Chief Medical Officer Dr. Angela Fitch, Immediate Past President of the Obesity Medicine Association—delivers comprehensive, evidence-based care that integrates medical treatment, nutrition, and behavioral support.
“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,” said Brooke Boyarsky Pratt, co-founder and Chief Executive Officer of knownwell. “Being backed by a leading payer is powerful validation of that approach. Our patients’ outcomes and growth confirm that reshaping healthcare for those living with obesity isn’t just possible—it’s already happening.”
Over the past 18 months, knownwell has expanded from Massachusetts to Georgia, Illinois, and Texas, while also launching virtual care in all 50 states. The company has maintained strong patient satisfaction and retention metrics, including a net promoter score above 90, a 91 percent one-year retention rate, and 93 percent one-year sustained weight loss.
“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,” said Alyssa Reisner, Partner and Executive Director at CVS Health Ventures. “We see this as more than an investment—it’s an opportunity to transform how obesity is treated across the country.”
“Obesity care is the next frontier of value-based care, and knownwell is building the care model that works for patients, providers, and payers alike,” added Geoff Price, co-founder of Oak Street Health and knownwell’s newest board member.
Sheralee Petersen, AVP of Clinical Programs at Intermountain Health, noted that traditional approaches are not enough to meet patient needs, while Nickolas Mark, co-founder and Managing Partner of Intermountain Ventures, added, “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.”
