With plans to use video game elements to build care programs for multiple chronic diseases and conditions, SidekickHealth has raised $20 million in venture capital to support its projects.
The Swedish digital therapeutics developer’s series A investment round was led by Wellington Partners and Asabys Partners, through its fund SAHII, with additional participation by Sidekick’s previous investors Novator and Frumtak Ventures.
Sidekick combines artificial intelligence and behavioral economics—along with gamification measures to reward lifestyle changes—to help users digitally manage their nutrition, exercise, sleep, stress and adherence to medications.
The company plans to use the proceeds to move into new therapeutic areas and complete its validation work in areas such as diabetes, ulcerative colitis and smoking cessation.
“The healthcare landscape has shifted significantly this year as a direct result of COVID-19, accelerating the adoption and demand for digital health solutions,” said Sidekick co-founder and CEO Tryggvi Thorgeirsson. “We have grown our customer base sharply in recent months, adding new partnerships with global pharmaceutical firms and leading U.S.-based healthcare organizations.”
“These developments have confirmed our vision to bring healthcare into people’s homes, augment traditional medical care outside the bricks-and-mortar clinical setting, and empower patients to take control of their own health. Our new investors bring tremendous value to the table, supporting our continued growth in Europe, and helping Sidekick to continue to expand its operations in the U.S.,” Thorgeirsson added.
This past summer, Sidekick partnered with Pfizer to develop its digital therapeutics platform for patients across Europe.
Starting with patients in Finland with ulcerative colitis and Crohn’s disease, the partners plan to expand the program to atopic dermatitis as well as rheumatoid and psoriatic arthritis. It will open up to reach patients in Sweden, Belgium, Netherlands, Ireland, Switzerland and Austria.