Omada Health

Omada began offering its first virtual program focused on diabetes prevention and weight management in 2012. According to its S-1 filing, the company now serves 2,000 clients and has enrolled more than 679,000 participants in at least one of its programs. Since its inception, Omada claims to have supported over one million individuals.

The company has broadened its virtual healthcare offerings to include services for prediabetes, high blood pressure, and musculoskeletal disorders. It also launched a specialized care pathway for GLP-1 medications, aiming to simplify access for employers. This program combines GLP-1 treatment with clinical supervision and behavioral change strategies to promote weight loss and better control obesity and related health conditions.

Per CB Insights, Omada has raised over $500 million in funding. In February 2022, it secured $192 million in Series E funding, earning it unicorn status.

Omada primarily markets its services to employers, who may contract directly or access programs through intermediaries like health plans or pharmacy benefit managers (PBMs). Additional revenue comes from integration into fully insured health plans, mainly in the commercial sector, through PBM therapeutic programs, or from health systems that take financial responsibility for patient care.