Teaser Text: Selvera closes $1 Million in financing, Stonehenge Growth Equity Innovate NY Fund, L.P. leads financing
Category: Stonehenge News
NEW YORK- January 15, 2015 -Selvera, a clinically-based and technology-enabled weight management program, announced today that it recently secured approximately $1 million in its second round of fundraising. The round is led by Stonehenge Growth Equity Innovate NY Fund, L.P., along with other new and existing investors.
Leveraging its proprietary wireless monitoring platform and a unique behavioral counseling protocol, Selvera was founded to help people make lasting lifestyle and habit changes that enable weight loss and long-term maintenance. The evidence-based weight loss program incorporates three key factors: counseling, technology, and meals. The program pairs each client with a dedicated Registered Dietitian and offers convenient weekly video and telephonic counseling sessions. Selvera’s technology platform allows dietitians to remotely monitor progress and proactively intervene. Selvera also offers a curated line of delicious and healthy meals delivered right to each client’s door. Using a proprietary cognitive behavioral therapy protocol, the program guides participants through all three phases of successful weight management: weight loss, transitioning to a healthy lifestyle, and lifetime preservation.
“We are thrilled to welcome Stonehenge to the Selvera team. Their support, coupled with additional investment from our other new and existing investors, will enable Selvera to improve both the delivery and user experience of the program, as well as expand our consumer client base to help more people achieve and maintain a healthy weight,” said Andrew Zengilowski, CEO of Selvera. “This investment will also enable us to bolster our corporate program, which provides Selvera’s clinically-based weight management approach through employers and insurers as a way to reduce healthcare and lost productivity costs today and in the future,” added Selvera President Wes Haydon.
“Selvera is an attractive opportunity for Stonehenge given our focus on businesses at the intersection of healthcare and technology. Selvera leverages clinical expertise and evidence-based methods to solve an enormous healthcare problem and is delivered conveniently and cost-effectively through the application of technology,” said Brian Model, Managing Partner of Stonehenge Growth Equity Partners.
Selvera was first introduced in 2013 and is currently available throughout the U.S. and Canada at www.Selvera.com.
About Stonehenge Growth Equity Innovate NY Fund, L.P.
Stonehenge Growth Equity Innovate NY Fund, LP is managed by Stonehenge Growth Equity Partners, one of seven investment entities participating in the Innovate NY Fund. The Innovate NY Fund, launched by Governor Andrew M. Cuomo to spur innovation, job creation and entrepreneurship across New York State, is a $45 million joint venture seed stage equity fund supported by $35 million from the State and a $10 million investment from Goldman Sachs. Seven leading investment entities, each with a regional and/or industry focus, are participating and investing the funds across New York State. Innovate NY is expected to leverage up to $450 million in additional private investment for New York's small businesses and will invest in up to 100 new companies. Stonehenge Growth Equity Partners invests in technology-enabled companies applying proven technology to solve business problems. For more information, visit www.StonehengeGrowthEquity.com.
Designed by Physicians, Psychiatrists, and Registered Dietitians, Selvera was created to help individuals lose weight and keep it off for good through the development of healthy living habits. Selvera relies on proprietary tools, technologies, and methods to achieve unparalleled results. With the Selvera program, over 90% of clients are losing weight and keeping it off. With its unique combination of counseling, technology, and meals delivered right to your door, the program is designed to speed up and simplify weight loss, helping you learn to live healthy for life.