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- CureApp
CureApp Valuation, Funding & Investors
CureApp is valued at $261M as of August 2022.
Last CureApp valuation
$261M
Series G · Aug 2022
Last CureApp funding round
$52M
Series G · Aug 2022
Cumulative funding CureApp raised
$109M
across 6 funding rounds
Key investors in CureApp
Beyond Next Ventures
Daiichi Life Group
SBI Investment
ITOCHU Technology Ventures
Keio Innovation Initiative
Koshidaka Holdings
About CureApp
CureApp is a Tokyo-headquartered digital therapeutics company pioneering medical apps with proven clinical efficacy. It launched Japan's first nicotine addiction treatment app in February 2015 through collaboration with Keio University School of Medicine's Division of Pulmonary Medicine. The firm conducts multicenter clinical trials for apps targeting hypertension, alcohol dependence, and psychiatric disorders. CureApp holds regulatory approvals as medical devices from Japan's Ministry of Health, Labour and Welfare, positioning it as a leader in software-based behavioral therapies delivered via smartphones.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
$261M (Aug 2022)
CureApp Valuation
CureApp is currently valued at $261M, based on its Series G in August 2022.
The $52M round was led by Carlyle Group.
CureApp valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2022 | Series G | $261M |
CureApp Funding History
CureApp has raised a total of $109M across 6 funding rounds.
CureApp's first fundraising round was a $800K seed round in October 2015. The most recent completed round was a $52M Series G in August 2022.
CureApp funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Series G | Carlyle Group (lead) | $52M | $261M | CureApp is a Tokyo-based digital therapeutics startup founded in 2014 by medical doctors Kota Satake (CEO) and Susumu Suzuki (CTO), specializing in prescription digital therapeutics apps developed in collaboration with institutions like Keio University School of Medicine and Jichi Medical University. The company released a smoking cessation app in 2015, which received regulatory approval as digital therapeutics in August 2020 and insurance coverage in December 2020; its hypertension app gained approval in April 2022, demonstrating a 10.7% reduction in cardiovascular risk in trials. CureApp is also advancing pipelines for non-alcoholic steatohepatitis (NASH), alcoholism, cancer, and chronic heart failure. On August 16, 2022, CureApp secured approximately 7 billion yen ($51.5 million) in its Series G funding round from Carlyle, bringing total funding to 13.4 billion yen ($98.6 million). Carlyle is taking a minority stake and appointing a director to the board to aid global expansion, sales networks, marketing, and product development leveraging its healthcare expertise. Funds will support rollout of the hypertension app and pipeline advancement. The investment positions CureApp amid a growing global DTx market projected to reach $13.8 billion by 2027 at 20.5% CAGR. |
| Mar 2021 | Series D | ITOCHU Technology Ventures; Shoko Chukin Bank; Koshidaka Holdings; SIIF; Shinsei Bank; Toyoshima; Daiichi Life Group; Sumitomo Mitsui Trust Investment; Healthcare Innovation; Saisei Ventures; SMBC Venture Capital | $19M | - | - |
| Jul 2019 | Series C | Koshidaka Holdings; INTAGE HOLDINGS; Daiichi Life Group; Mori Trust | $20M | - | CureApp is a Japanese digital therapeutics company founded in 2014, developing prescription digital apps for conditions like nicotine addiction, hypertension, alcohol addiction, NASH, oncology, and chronic heart failure. Their first product, CureApp® Smoking Cessation, received medical device approval in 2020 and national health insurance reimbursement in Japan. The hypertension app achieved world-first approval as a standalone software medical device in April 2022. They also offer corporate wellness programs like ascure Smoking Cessation implemented at over 230 companies. On July 5, 2019, CureApp raised funds in a Series C round led by investors including Dai-ichi Life Insurance, with total funding across 10 rounds reaching $90.61M as of 2024. The exact amount for this round is reported as $20.3M in some lists. Prior to this, the company had completed large-scale phase III clinical studies for digital therapeutics in Japan, pioneering the field. CureApp continued growth with later rounds like Series G in 2022 and incubator programs through 2024, plus partnerships such as with Jichi Medical University for hypertension trials starting December 2019 and Daiichi Sankyo for oncology apps. The company operates in the digital health space, focusing on evidence-based personalized treatments to reduce medical costs and address unmet needs in chronic diseases. |
| Feb 2018 | Series B | ITOCHU Technology Ventures; Cyberdyne; ITOCHU; Mizuho Capital; SBI Investment; Daiichi Life Group; Beyond Next Ventures; Mitsubishi UFJ Capital; Saison Ventures; Keio Innovation Initiative; Iwagin Jigyo Souzou Capital; Chibagin Capital | $14M | - | - |
| Feb 2017 | Series A | Beyond Next Ventures (lead); SBI Investment; Keio Innovation Initiative | $3M | - | CureApp was founded in 2014 by Dr. Kohta Satake and created Japan's first therapeutic app category. The company is ranked among the NEXT Unicorns in the Nikkei newspaper's proprietary valuation survey. Beyond Next Ventures made CureApp its inaugural portfolio investment from their inaugural fund in 2015, and the company has continued to develop evidence-based medical devices with clinical validation. |
| Oct 2015 | Seed | Beyond Next Ventures (lead) | $800K | - | - |
Who has invested in CureApp?
24 investors have backed CureApp across its funding rounds, including Beyond Next Ventures, Daiichi Life Group, SBI Investment, ITOCHU Technology Ventures, Keio Innovation Initiative and Koshidaka Holdings.
Lead investors include Carlyle Group and Beyond Next Ventures.
CureApp Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Feb 2018 | ||
| 3 | Lead | Oct 2015 | ||
| 2 | Participant | Feb 2018 | ||
| 2 | Participant | Jul 2019 | ||
| 2 | Participant | Feb 2017 | ||
| 2 | Participant | Feb 2017 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Jul 2019 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Feb 2018 | ||
| 1 | Participant | Feb 2018 | ||
This data is available for Pro users. Sign up to see all 24 CureApp investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCureApp Competitors
CureApp competitors include listed companies like Nyxoah and Oneview Healthcare, and private ones like Biopeak, Benovymed Healthcare Group, Qure AI and Slingshot AI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $2M | - | $250M | 125.0x | ||
| Private | - | - | $241M | - | ||
| Private | $19M | - | $240M | 12.6x | ||
| Private | $10M | - | $220M | 22.0x | ||
| Publicly listed | $12M | ($97M) | $162M | 3.2x | ||
| Publicly listed | $14M | ($12M) | $100M | 7.1x |
CureApp Public Comps
CureApp is still privately-owned, but its public comps include Nyxoah, Oneview Healthcare, Kooth, Saluda Medical, DarioHealth, Welby, Physitrack, iXensor, Sphere and Helus Pharma.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $12M | ($97M) | 9.5x | 3.2x | (1.1x) | (1.4x) | |||
| $14M | ($12M) | 7.1x | 7.1x | (8.2x) | (11.3x) | |||
| $85M | $13M | 0.7x | 0.7x | 4.6x | 4.3x | |||
| $70M | ($144M) | - | - | - | - | |||
| $22M | ($36M) | 3.9x | 4.0x | (2.4x) | (4.2x) | |||
| $4M | ($3M) | 4.5x | 4.5x | (5.7x) | - | |||
| $16M | ($2M) | 1.2x | 1.2x | (8.5x) | 6.2x | |||
| $844K | ($1M) | 8.9x | - | (6.0x) | - | |||
This data is available for Pro users. Sign up to see all CureApp competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CureApp
| When was CureApp founded? | CureApp was founded in 2014. |
| Where is CureApp headquartered? | CureApp is headquartered in Tokyo, Japan. |
| Is CureApp publicly listed? | No, CureApp is a private, VC-backed company. |
| What is CureApp's valuation? | CureApp was last valued at $261M in its Series G in August 2022. |
| How much funding has CureApp raised? | CureApp has raised $109M across 6 funding rounds. |
| What was CureApp's last funding round? | CureApp's last funding round was a $52M Series G in August 2022, led by Carlyle Group. |
| Who are CureApp's investors? | CureApp's investors include Daiichi Life Group, Beyond Next Ventures, ITOCHU Technology Ventures, Koshidaka Holdings, SBI Investment, Keio Innovation Initiative, Shoko Chukin Bank, INTAGE HOLDINGS, SIIF, Shinsei Bank and 14 others. |
| Which companies are comparable to CureApp? | Companies comparable to CureApp include Biopeak, Benovymed Healthcare Group, Qure AI, Slingshot AI, Nyxoah and Oneview Healthcare. |
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