Newtopia raises $10 million Series A to help enterprises empower employees in managing health

Toronto-based Newtopia, a health engagement platform targeting the enterprise sector, has raised $10 million in Series A funding.

The funding was led by US and Canadian investors, including Toronto-based Bloom Burton & Co. The company, which also has an office in New York, plans to use the funding to grow its 50-person team and expand in the US market.

“I founded Newtopia with one goal in mind – to transform the way businesses engage in employee healthcare and disease prevention,” said Jeff Ruby, founder and CEO of Newtopia. “This investment will be used to fuel our continued growth and industry-leading outcomes in the health care industry and accelerate the deployment of targeted disease prevention solutions. We will continue empowering at-risk employees to take charge of their health and well-being while simultaneously helping businesses save on rising employee health care costs.”

Newtopia’s platform uses a combination of genetic testing of individuals, personalized coaching, and mobile health communities to build customized health care plans. The company works with insurers, employers, and brands to offer disease prevention and management programs, especially for people at risk for obesity, type 2 diabetes, heart disease and stroke (metabolic syndrome).

“This is a great opportunity to leverage our deep expertise in healthcare innovation, development and commercialization to help accelerate Newtopia’s growth,” said Brian Bloom, co-founder and president of Bloom Burton. “Their unique approach to disease prevention and engagement aligns with our vision in the corporate health space and we’re excited to continue working together.”

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor.