Ann Arbor-based Kumanu, a well-being technology company, has closed an A round of investment from ProMedica in Ohio, a nonprofit health system, to develop platforms to improve mental health and social well-being. Terms of the investment were not disclosed.
The funds will be used to accelerate platform and market development around areas including mental and social well-being, social determinants of health, and the application of purpose science to promote pro-social behaviors related to inclusion and belonging.
ProMedica has 13 hospitals and more than 300 post-acute facilities in 27 states. It employs more than 56,000 people and contributes more than $250 million in community benefit annually.
The ProMedica Social Determinants of Health Institute has addressed social determinants of health in clinical settings and communities for more than a decade.
“We are excited to collaborate with the Kumanu team to tackle the most pressing health barriers facing communities and employers today, including social determinants of health,” says Randy Oostra, president and CEO of ProMedica, who is joining Kumanu’s board of directors as part of the investment.
“Kumanu has developed a unique technology platform for scaling and sustaining positive change in health behaviors, and a seasoned team that perfectly complements our capabilities and culture. Kumanu’s work in life purpose is a major new addition to our social determinants of health work, and it adds one more very important piece as we try to improve individuals’ personal, social and economic factors.”
Along with the investment, the companies will jointly develop solutions to intervene against social determinants of health, or the social, economic, and environmental factors that impact health risks and outcomes. The risks include factors such as food insecurity, financial strain, housing, behavioral health, transportation, violence risks, and childcare. Taken together, these factors are able to influence 80 percent or more of health outcomes.
“We couldn’t be more proud of our collaboration with ProMedica or more grateful for its investment and confidence in our unique purpose-centered intervention capabilities,” says Victor Strecher, founder and CEO of Kumanu. “This partnership allows us to capitalize on complementary strengths and helps our client organizations achieve greater speed to impact in addressing difficult barriers to health and well-being within their employee populations and communities.”
In the past year, Kumanu introduced its new brand, re-launched its artificial intelligence-driven purpose activation platform, released its flagship application Purposeful by Kumanu, grew revenues by more than 500 percent, and forged partnerships with technology companies, health care systems, universities, and Medicare plans.