Form Health Secures $38 Million Series B Funding to Enhance Obesity Care Services

Krissy Vann | Host, All Things Fitness and Wellness

Form Health has announced it has raised $38 million in a Series B funding round. The investment was led by Sound Ventures, with M13, SignalFire, and Next View Ventures also participating. The funding will support the company's expansion with enterprise partners, the hiring of American Board of Obesity Medicine physicians, and advancements in its telehealth technology platform.

Since its inception in 2019, Form Health has provided care to tens of thousands of patients nationwide through its telehealth model, which includes a board-certified doctor and a Registered Dietitian. Each patient's weight loss plan is personalized and may include FDA-approved weight loss medication. Form Health accepts most major insurance plans, including Medicare, and offers services through employer benefit programs or individual sign-ups.

“We are in a transformational moment in how we understand and treat obesity and metabolic disease and, with this new funding, Form Health can accelerate our work setting the standard in safe, high-quality, evidence-based obesity care,” said Evan Richardson, founder and CEO of Form Health. “Form Health’s many strategic relationships with employers, pharma companies, and patients are the result of offering science-based obesity care delivered by board-certified physicians and Registered Dietitians that drives long-lasting results for patients. This approach is fundamentally different from the many players in the category who are focused on handing out GLP-1s or potentially dangerous compounded medicine without the clinical care required for safe, long-term patient outcomes. We are excited to continue to deliver exceptional obesity care to the many Americans who need it.”

With the new capital, Form Health will focus on three primary areas of growth. First, the company will expand its enterprise partnerships by establishing strategic relationships with major employers, including several Fortune 200 companies, as well as consultants and health plans.

Second, Form Health will increase the hiring and training of ABOM-certified physicians. Currently, there are about 8,000 such physicians in the United States, and Form Health aims to boost this number to meet the rising patient demand.

Lastly, Form Health will continue to develop its technology and product offerings. The program is delivered entirely through telehealth, which includes virtual visits and unlimited messaging. Additionally, the company utilizes digital tools such as scales and an interactive app to enhance patient care. The new funding will enable further development of these features and products to maintain high-quality care delivery.

“Obesity care is in the early innings of an innovation revolution and Form Health has emerged as the clear leader with its science-based approach,” said Effie Epstein, Managing Partner at Sound Ventures. “Through its work with Fortune 500 companies and strategic relationships with pharmaceutical players, Form’s clinical model has delivered consistent outcomes for tens of thousands of patients. It is quickly developing one of the largest-ever data sets on obesity care, a critical step in directly tackling one of the major conditions in our healthcare system.”

Form Health was founded in 2019 by Evan Richardson, who serves as CEO. Florencia Halperin, MD, MMSc, serves as Chief Medical Officer and co-founder of the Center for Weight Management and Metabolic Surgery at Brigham and Women’s Hospital. Form previously raised $26.8 million in funding.

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