Value-based obesity care solution Ilant Health adds $2.5M to its seed round

The company initially raised $3 million in seed funding when it launched in October

Obesity is defined by having a body mass index (BMI) of 30 or greater and it's a growing, and expensive, problem. In 2019, obesity-related medical care costs were estimated to be nearly $173 billion, while annual nationwide productivity costs of obesity-related absenteeism range between $3.38 billion and $6.38 billion, or between $79 and $132 per individual with obesity. By 2030, nearly half of all Americans are projected to live with obesity, and the obesity rate is expected to surpass 50% in 29 states.

Ilant Health is looking to provide a solution to the obesity epidemic by creating access to evidence-based and comprehensive care for cardiometabolic health.

"We believe that access is not possible without affordability and, therefore, purpose-built our model in a value-based approach," Elina Onitskanky, the company's CEO, told VatorNews. "Our approach is unique because we combine the power of analytics and technology with the most comprehensive care team on the market."

Now the company will be able to expand thanks to an additional $2.5 million in funding it announced on Tuesday. This is an extension of the $3 million it initially raised when it launched this past October, bringing its total funding to $5.5 million. 

Ilant Health works with employer or health plans that are looking to address obesity in their population in a clinically and financially sound way. 

On the analytics side, the company is addressing two pain points in the market: first, the lack of obesity coding and, second, understanding on the ROI from treatment and the lack of protocols to support navigating members - at scale - to the treatment that is best for them, said Onitskanky.

"Our Ilant Rapid Returns and Ilant Metabolism Matters address each of these challenges, respectively. We pair these analytics with a care team that includes not just obesity medicine and registered dietitians but also mental health professionals and lived experience peer navigators," she explained.

Recognizing that one of the biggest challenges that employers and health plans face is churn, Ilant focuses on delivering positive ROI in less than two years through a combination of addressing obesity related conditions, reducing the cost associated with diabetes, obstructive sleep apnea, and musculoskeletal issues, to name just a few, and by managing treatment appropriateness, including the use of GLP-1s.

"One key differentiator is that our Ilant Rapid Returns enables us to identify and proactively engage individuals who need care the most and have the highest clinical and financial benefit from treatment," Onitskanky said. 

Ilant Health has won all three World 50 Group Academies, EHIR, HPIR, and PHIR, and was selected for Highmark and Allegheny Health Network's accelerator, AlphaLab Health. The company also recently won the Employee Health Innovation Roundtable (EHIR) Traction Award, which recognizes the company garnering the greatest level of interest from EHIR employer members. 

The new funding funds from a combination of new health-oriented investors, including funds from LifeX Ventures, Celtic House Asia Partners, and Cornucopian Capital, as well as existing investors. 

Among the company's initial investors were Matt Klitus, CFO of Lyra Health and former CFO and CSO of MassHealth; Iyah Romm, founding CEO of Cityblock Health; and Brandon Kerns, CFO of CareBridge; Russell Street Ventures; Main Street Health; Rika Christanto, Partner of LifeX Ventures, who invested $2 million in the company; and Chrissie Francona, acting as a scout for Pillar Ventures.

The company plans to deploy this funding to continue to support its business development and growth.

"We have a robust product and care team and are really excited by the traction we are seeing," said Onitskanky. "Our ultimate goal is to transform cardiometabolic health in this country, which we believe is critical to addressing both health and longevity and healthcare costs."

(Image source: ilanthealth.com)