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- Calibrate
Calibrate Revenue, Valuation, Funding & Investors
Calibrate is valued at $1.3B as of August 2021, a 61.9x multiple on its last reported $21M revenue.
Last Calibrate valuation
$1.3B
Series B · Aug 2021
Last Calibrate funding round
$100M
Series B · Aug 2021
Calibrate revenue
$21M
Series B · Aug 2021
Key investors in Calibrate
Forerunner
Threshold
Tiger Global
Founders Fund
Optum Ventures
Steph Korey Goodwin
About Calibrate
Calibrate is a New York-headquartered telehealth company offering a virtual program for metabolic health and weight management. Launched in 2020, it pairs FDA-approved GLP-1 medications like semaglutide with personalized coaching, nutrition plans, and behavioral therapy delivered via app and video sessions. The program targets adults with obesity, emphasizing long-term habit formation through weekly check-ins and biomarker tracking. Calibrate serves thousands of members nationwide and collaborates with obesity specialists from institutions like Mount Sinai.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$21M (Aug 2021)
Valuation
$1.3B (Aug 2021)
Calibrate Valuation
Calibrate is currently valued at $1.3B, based on its Series B in August 2021.
The $100M round was led by Founders Fund and Tiger Global, with participation from Forerunner, Threshold and Optum Ventures.
Calibrate valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2021 | Series B | $1.3B | 61.9x |
Calibrate Revenue
Calibrate's latest recorded revenue is $21M, as of its Series B in August 2021. At a $1.3B valuation, that implies a 61.9x revenue multiple.
Calibrate revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2021 | $21M | $1.3B | 61.9x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Calibrate Funding History
Calibrate has raised a total of $128M across 3 funding rounds.
Calibrate's first fundraising round was a $5M seed round in June 2020. The most recent completed round was a $100M Series B in August 2021.
Calibrate funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2021 | Series B | Founders Fund (lead); Tiger Global (lead); Forerunner; Threshold; Optum Ventures | $100M | $1.3B | Calibrate is a New York-based telehealth startup founded in 2020 that provides a digital metabolic health platform focused on weight loss and obesity treatment. It combines FDA-approved prescription medications with behavioral therapy, lifestyle coaching, and a year-long metabolic reset program priced at $129 per month, with an initial metabolic assessment at $249. The company rapidly expanded to cover over 80% of the U.S. population and reported members losing an average of 14% body weight in the first year, surpassing initial 10% projections. On August 25, 2021, Calibrate closed a $100 million Series B funding round co-led by Founders Fund and Tiger Global, with participation from Forerunner Ventures, Optum Ventures, Threshold Ventures, and Redesign Health. This brought total equity funding to $127.6 million, including prior seed and Series A rounds. The post-money valuation reached $1.3 billion. Funds were earmarked for accelerating product development, team expansion, scaling operations, growing the consumer business, building enterprise channels, and forming partnerships with policymakers, insurers, and manufacturers. At the time of the round, Calibrate demonstrated strong traction with 2021 revenues of $21 million, exceeding projections of $10-12 million, and 51% month-over-month business growth. The company had grown its team nearly twentyfold and positioned itself as a leader in metabolic health amid launches like Wegovy. Investors like Brian Singerman from Founders Fund joined the board, highlighting Calibrate's category-defining potential in obesity treatment through direct-to-consumer and enterprise expansion. One source lists a Series B valuation of $382.73 million, but this conflicts with the $1.3 billion figure directly tied to the round details; the higher valuation aligns with the rapid growth metrics reported. |
| Jan 2021 | Series A | Threshold (lead); Forerunner | $23M | - | Calibrate Health, Inc. is a weight management platform offering a metabolic reset program that combines telemedicine visits, lab workups, FDA-approved medications, one-on-one coaching for behavioral changes in eating, exercise, and habits, along with a smart scale and app for tracking. Founded in 2020 by Isabelle Kenyon, the company launched initially in states like New York, California, Texas, and Pennsylvania, later expanding to others. The Series A round on January 26, 2021, raised $22.5 million led by Threshold Ventures (Emily Melton), with participation from Forerunner Ventures and Redesign Health. This followed a $5.1 million seed round in June 2020 from Forerunner Ventures, bringing total funding at that point to $27.6 million. The funds were allocated to expand the technology platform, enhance delivery of clinical outcomes through consumer products, integrated care tools, coaching, and data infrastructure for real-world evidence in obesity treatment. Calibrate targets the growing U.S. obesity market, where CDC reports a 42.4% rate, competing with programs like Weight Watchers' Digital 360. The GLP-1 medication market for weight loss saw about $500 million spent in the prior year, indicating strong demand. A subsequent Series B round in August 2021 raised $100 million from Founders Fund, Tiger Global Management, Optum Ventures, and existing investors including Threshold and Forerunner, totaling $127.6 million raised across three rounds. This supported telehealth expansion and enterprise business with GLP-1 hormones like Wegovy. |
| Jun 2020 | Seed | Forerunner (lead); Steph Korey Goodwin | $5M | - | Calibrate is a direct-to-consumer weight loss startup focused on metabolic health, pairing users with doctors and coaches for a year-long program combining medication and behavior therapy. The company launched in June 2020 with a $5.1 million seed round led by Forerunner Ventures (Kirsten Green), with participation from Redesign Health. This seed funding preceded a $22.5 million Series A in January 2021 led by Threshold Ventures, also with Forerunner and Redesign Health. Calibrate plans to use funds to expand its technology platform, clinical care, coaching tools, and data infrastructure for real-world evidence. The company, founded in 2020 and headquartered in New York, later raised additional rounds totaling $127.6 million over seven rounds, culminating in an Acq - Fin in October 2023, with 2021 revenue reported at $21 million. |
Who has invested in Calibrate?
6 investors have backed Calibrate across its funding rounds, including Forerunner, Threshold, Tiger Global, Founders Fund, Optum Ventures and Steph Korey Goodwin.
Lead investors include Founders Fund, Tiger Global, Threshold and Forerunner.
Calibrate Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2020 | ||
| 2 | Lead | Jan 2021 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Lead | Aug 2021 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCalibrate Competitors
Calibrate competitors include listed companies like Nyxoah and Kooth, and private ones like Found, Pristyn Care, Cult.fit and Hims & Hers.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $600M | - | ||
| Private | $64M | - | $1.4B | - | ||
| Private | $74M | - | $1.5B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $12M | ($97M) | $162M | 3.2x | ||
| Publicly listed | $85M | $13M | $90M | 0.7x |
Calibrate Public Comps
Calibrate is still privately-owned, but its public comps include Johnson Health Tech, Herbalife, GoodRx, Teladoc, JMDC, Helus Pharma, Ping An Healthcare, Talkspace, Sphere and Alignment Healthcare.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.7B | $176M | 1.0x | 1.0x | 9.5x | 10.1x | |||
| $5B | $602M | 0.6x | 0.6x | 5.1x | 4.6x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $2.5B | $124M | 0.6x | 0.6x | 11.3x | 5.0x | |||
| $324M | $88M | 5.0x | 4.6x | 18.4x | 17.9x | |||
| - | ($153M) | - | - | (5.4x) | (4.8x) | |||
| $815M | $52M | 0.9x | 0.9x | 13.4x | 16.9x | |||
| $229M | $6M | 3.4x | 3.4x | 129.3x | 49.4x | |||
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Common questions about Calibrate
| When was Calibrate founded? | Calibrate was founded in 2020. |
| Where is Calibrate headquartered? | Calibrate is headquartered in New York City, NY, United States. |
| Is Calibrate publicly listed? | No, Calibrate is a private, VC-backed company. |
| What is Calibrate's valuation? | Calibrate was last valued at $1.3B in its Series B in August 2021. |
| How much funding has Calibrate raised? | Calibrate has raised $128M across 3 funding rounds. |
| What was Calibrate's last funding round? | Calibrate's last funding round was a $100M Series B in August 2021, led by Founders Fund and Tiger Global. |
| Who are Calibrate's investors? | Calibrate's investors include Forerunner, Threshold, Steph Korey Goodwin, Founders Fund, Tiger Global and Optum Ventures. |
| What is Calibrate's revenue? | Calibrate's latest recorded revenue is $21M (August 2021). |
| What is Calibrate's revenue multiple? | Calibrate's latest valuation implies a 61.9x revenue multiple ($1.3B valuation on $21M of revenue). |
| Which companies are comparable to Calibrate? | Companies comparable to Calibrate include Found, Pristyn Care, Cult.fit, Hims & Hers, Nyxoah and Kooth. |
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