Investment from Health for Life Capital™ will accelerate commercialization in Europe and increase US sales
Paris, France – 22 January 2018 – Seventure Partners, one of Europe’s leaders in financing innovation and a world-leader in the venture investment in the microbiome sector, today announces that it has joined a Series B funding round into Zipongo, investing $9m.
Seventure was joined in the round by existing investor Mayfield, a Californian VC specializing in digital investments and Zaffre Investments, the investment fund of Blue Cross Blue Shield of Massachusetts. The fund will enable the Company to expand its commercial presence across Europe, with a primary focus in the UK. It will also allow the launch of FoodScripts™, reducing the reliance on medication by using food as an alternative first-line therapy, thus lowering chronic disease costs.
Founded in 2011 in the USA, Zipongo is a digital nutrition platform that provides personalised meal recommendations, based on biometrics and food preferences, to millions of eligible users. Zipongo works with employers, health plans and wellness companies to reduce chronic disease and improve the health of employees and members. Zipongo’s solution delivers real-time support from users making food decisions – at home, at work, at the supermarket and at restaurants. The service points users to the healthiest recipe and menu choices, reducing the likelihood of making poor food choices based on convenience, cost and other factors. Zipongo has more than 150 US corporations as existing clients and the Company estimates that every $1 invested in corporate wellness yields $6 in corporate savings.
Isabelle de Cremoux, CEO and Managing Partner of Seventure Partners, said: “Zipongo’s success in the US reflects the growing importance to users to make educated decisions about their nutrition and health. The Company is a perfect investment for Health for Life Capital™, sitting at the intersection of wellbeing and technology and we are pleased to be supporting its European growth strategy.”
Jason Langheier, MD, MPH, CEO and founder of Zipongo said: "We're thrilled to have the leadership and support of Seventure, Zaffre and BCBSMA. Seventure has already been helpful in our expansion to Europe and collaboration with pharma and medical foods companies and Zaffre has already helped us help Health Plans re-think their opportunity to outright reverse the obesity & chronic disease epidemic and the costs they bring.”
Back in 2017, Seventure’s Health for Life Capital™ invested in Israel-based personalized nutrition microbiome app company DayTwo. This investment in Zipongo further enhances Seventure’s portfolio of Software and App Development companies and demonstrates its commitment to investments within the healthcare technology space.
About Seventure Partners
With over €660m in assets under management as of the end of 2016, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has invested in innovative businesses with high growth potential in two fields: Digital technologies in France and Germany, and Life sciences across Europe, Israel and North America.
In Life sciences, the four areas of focus include biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology, and last but not least: the MICROBIOME, nutrition, foodtech and personalized medicine. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage. Recently, Seventure Partners successfully launched Health for Life Capital™ which has attracted strategic investments from prestigious organizations including Danone, Tereos, Tornier, Lesaffre, Bel and Novartis, as well as entrepreneurs and financial institutions.
About Health For Life Capital™
Seventure Partners launched Health for Life Capital™, the first venture capital fund focused mainly on investments in the microbiome and nutrition space. Europe is the primary focus of the fund, but it also invests in North America, Israel and Asia. The €160m fund attracted strategic investments from prestigious organisations including Danone, Novartis, Tereos, Tornier, Lesaffre and Bel, as well as financial institutions and entrepreneurs. Health for Life Capital™ is managed by Seventure’s Life sciences team.
For more details: http://www.seventure.fr/en/
San Francisco-based Zipongo has opened up the Food Benefits Management (FBM) category to tackle chronic disease. Serving hundreds of companies and millions of members, Zipongo's FBM platform delivers sustained engagement to help people assess and improve their nutrition via the tools of the Zipongo Engage platform, including Health (Digital Dietitian), Cooking (recipes, meal planning, grocery delivery, and discounts) and Restaurants (menus, restaurant ordering, and workplace cafes). In addition, Zipongo FoodScripts™ fulfills Food as Medicine to drive ROI versus traditional drug and provider-only spending to reduce clinical costs for metabolic syndrome-related diseases, such as diabetes, pre-diabetes, hypertension, hyperlipidemia, obesity/overweight and more.
Issued for and on behalf of Seventure Partners by Instinctif Partners.
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Sue CharlesManaging Partner