Knownwell is a healthcare company specializing in weight-inclusive primary care and metabolic health services. Founded in 2022, the company is headquartered in Needham, Massachusetts, and has rapidly expanded its presence across the United States.
Company Overview
Knownwell offers a comprehensive suite of services, including primary care, obesity medicine, nutrition counseling, and health coaching. The company's mission is to provide empathetic, evidence-based healthcare that supports patients' unique goals, irrespective of body size. This approach addresses the prevalent issue of weight bias in healthcare, which has been linked to poorer health outcomes.
Recent Developments
- Series A Funding: In December 2023, Knownwell secured $20 million in a Series A funding round led by Andreessen Horowitz (a16z) Bio + Health, with participation from existing investors, including Flare Capital Partners.
- Acquisition of Alfie Health: In June 2024, Knownwell acquired Alfie Health, an AI-based online precision medical and obesity management clinic. This acquisition aims to enhance Knownwell's technological capabilities and expand access to comprehensive metabolic health treatment.
- Expansion into Texas: In October 2024, Knownwell opened a new clinic in Plano, Texas, and began offering virtual care services throughout the state. This expansion addresses the high obesity rates in Texas, where one-third of the population is affected.
- Expansion into Illinois: In February 2025, Knownwell announced the opening of six new clinics across the greater Chicago area, furthering its national expansion plans. This move aims to provide inclusive, comprehensive care in a region where more than 35% of adults live with obesity.
Market Analysis
The global health and wellness market was valued at approximately $4.75 trillion in 2021 and is projected to reach about $6.75 trillion by 2030, growing at a compound annual growth rate (CAGR) of 4.4%. In the U.S., consumer spending on health and wellness reached $1.9 trillion in 2022, highlighting an increased awareness and prioritization of health-related expenditures.
The telehealth market has also seen rapid growth, with a projected valuation of $459.8 billion by 2030, growing at a CAGR of 26.5% from 2022. Approximately 76% of patients in the United States have used telehealth services as of 2022, primarily due to the increased need for healthcare accessibility during the COVID-19 pandemic.
Competitive Landscape
Knownwell operates in a competitive landscape that includes companies like Plume, Included Health, Local Connections for Health, FOLX, and Hued. These competitors offer various healthcare services, including virtual care and specialized clinics. Knownwell differentiates itself through its weight-inclusive approach and comprehensive care model.
Financial Performance
As of September 30, 2024, Knownwell reported cash and cash equivalents of $3.1 million and a net working capital deficit of approximately $2.05 million. The company anticipates recording losses from operations for the foreseeable future and believes it has enough available cash to operate until February 28, 2025. The accumulated deficit was $138.7 million, with net losses of $16.6 million and $15.3 million during the years ended September 30, 2024, and 2023, respectively.
Strategic Initiatives
Knownwell's strategic initiatives include expanding its physical and virtual presence to address the growing demand for inclusive healthcare services. The acquisition of Alfie Health enhances its technological capabilities, allowing for more personalized and efficient patient care. By opening new clinics in Texas and Illinois, Knownwell aims to provide accessible, stigma-free healthcare to communities with high obesity rates.
