In a bid to enhance the well-being of older adults, particularly those enrolled in Medicare plans, the healthy aging platform, Bold, has successfully secured $17 million in Series A funding. Led by Rethink Impact and featuring participation from Samsung Next, alongside existing investors like a16z, Khosla Ventures, GingerBread Capital, and Primetime Partners, this funding marks a significant milestone for Bold’s mission.
Fueling Expansion and Partnerships
With this latest infusion of capital, Bold is poised to expand its reach and make a more profound impact on the lives of older adults. The company’s vision includes forging partnerships with both national and regional Medicare plans and provider groups. These collaborations aim to serve underserved members who often grapple with chronic conditions, mobility limitations, and pain.
A Holistic Approach to Health
Bold is dedicated to the holistic health of its members. The funding will enable the company to accelerate the growth of its clinical exercise offerings. These programs are tailored to meet the diverse physical and mental health needs of older adults. The overarching goal is to prevent falls, reduce musculoskeletal pain and disability, and increase physical activity levels among its members.
Personalized Exercise Programs
At the core of Bold’s offerings is a personalized exercise program. This program is designed to engage members continuously, helping them establish sustainable habits with lasting health benefits. The platform employs dynamic adjustments and advanced behavioral science to cater to the unique needs of each member.
A Transformative Solution
Jenny Abramson, Managing Partner of Rethink Impact, recognizes Bold’s pioneering role in preventive healthcare for older adults. She emphasizes the importance of innovative, evidence-based solutions like Bold, which can make a significant impact on healthcare outcomes, reduce costs, and enhance the overall well-being of older adults.
Fighting the Fall Epidemic
Bold’s evidence-based platform has already made a significant difference, providing access to more than 10 million Medicare members. It boasts a remarkable 46% reduction in falls among older adults. Falls, affecting over one in four Americans aged 65 and older each year, result in staggering costs that exceed $50 billion, surpassing Medicare’s annual spending on cancer. Bold’s approach aligns with the CDC’s research, which suggests that physical activity can prevent or manage 4 out of 5 of the most costly chronic conditions among adults aged 50 and older.
Amanda Rees, CEO of Bold, acknowledges the years older adults spend in poor health due to falls, pain, and other chronic conditions. Bold’s mission is to increase healthspan for older adults by providing accessible, easy-to-follow programs that enhance strength, reduce falls, and promote lifelong well-being.
Bold’s commitment to health and well-being is reflected in its achievements. The platform has facilitated a 182% increase in members’ weekly physical activity levels and garnered an impressive 91% member satisfaction rate.
Healthy aging platform Bold secures $17 million in Series A funding to expand its mission of enhancing the well-being of older adults, particularly those in Medicare plans. The funding will support Bold’s expansion, partnerships with Medicare plans and provider groups, and the growth of its clinical exercise offerings. Bold’s personalized exercise programs aim to prevent falls, reduce pain, and increase physical activity levels among older adults. The evidence-based platform has already reduced falls by 46%, addressing a significant healthcare challenge. With less than 15% of older adults meeting physical activity guidelines, Bold’s holistic approach is poised to improve healthspan for millions.
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