GoodPath Rakes is priced at $18 million for chronic disease platforms
GoodPath, a virtual provider of chronic diseases, has raised $18 million in Series A funds to expand its coverage and accelerate the development of AI, the company announced Thursday.
When people are struggling with chronic diseases, they usually have several other health conditions related to the problem. For example, those with back pain may also be dealing with poor sleep or stress and anxiety.
Boston-based GoodPath solves this problem by dealing with multiple conditions under one platform, including musculoskeletal status, weight management, diabetes, digestive health, sleep, mental health, and cancer survival. Companies that provide services to employers provide multidisciplinary care, which means a collaborative approach in which providers from different specialties work together to treat patients. It uses AI to develop personalized care plans. It also offers dedicated health coaches, talk therapy and digital resources such as workout videos and educational materials.
“We solved the problem of division,” Bill Gianoukos, CEO and co-founder of GoodPath, said in an email. “Too many patients are bounced between disconnected point solutions or specialists who treat their health conditions only. We have adopted a comprehensive care model that has traditionally been only for high net worth individuals and have used technology and AI to make it affordable and scalable.”
Goodpath's Series A is led by large-scale businesses, including participation from healthy businesses. The company raised a total of $22 million.
“Chronic diseases and mental health conditions account for the vast majority of health care costs in the U.S., but the way care is provided lagging behind. We believe the next generation of category leaders will be those that bring this combination of scale, accuracy, and measurable cost impact in a single model,” said Eric Emmons. “Let’s excitement about GoodPath is that it has demonstrated this combination: high engagement in large populations, predictable usage data and results that appear directly in claims.”
Financing will be used to expand into new status categories and advance its AI engine, “in particular, our AI-driven personalization is pushing forward to create more dynamic care plans tailored to each member’s unique health history, behaviors and needs,” Gianoukos said. Additionally, GoodPath is investing in its pharmacy infrastructure to provide access to GLP-1.
Currently, chronic disease care is very dispersed. Those who struggle with mental health conditions, musculoskeletal conditions, or cancer often have to see multiple experts who are not connected to each other, which brings higher costs to patients and employers. This is the problem that Goodpath ultimately hopes to solve.
“Our goal is to make GoodPath the standard model for chronic disease management and increase access to integrated care so that anyone can use this medication quality,” Gianoukos said. “We are actively expanding to payer partnerships to expand what we do for large employers. Long-term, we expect every payer in the country to recognize GoodPath as an approved, effective and cost-free pathway to treatment.”
Photos: TAW4, Getty Images
