Found Valuation, Funding & Investors

Found is valued at $600M as of December 2021.

See full Found profile

Last Found valuation

$600M

Series B · Dec 2021

Last Found funding round

$100M

Series B · Dec 2021

Cumulative funding Found raised

$132M

across 3 funding rounds

Key investors in Found

  • Define Ventures
  • Atomic
  • GV
  • IVP
  • TCG
  • Westcap

Found Overview

About Found

Found is a San Francisco-headquartered telehealth company founded in 2019 that prescribes GLP-1 medications like semaglutide for weight loss. It partners with U.S. pharmacies for compounded drugs and serves members across 50 states with virtual coaching and tracking tools.


Founded

2019

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Valuation

$600M (Dec 2021)

Found Valuation

Found is currently valued at $600M, based on its Series B in December 2021.

The $100M round was led by Westcap, with participation from IVP, GV, Fidji Simo, TCG, Define Ventures and 4 other investors.

Found valuation by funding round

Found valuation by funding round
DateStageValuation
Dec 2021Series B$600M

Found Funding History

Found has raised a total of $132M across 3 funding rounds.

Found's first fundraising round was a $8M seed round in March 2020. The most recent completed round was a $100M Series B in December 2021.

Found funding rounds

Found funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2021Series BWestcap (lead); IVP; GV; Fidji Simo; TCG; Define Ventures; G9 Ventures; Atomic; Julia Taylor Cheek; Able Partners$100M$600MFound is a modern weight care platform offering comprehensive, medically-guided weight loss programs that combine dedicated medical care, personal health coaching, and science-based support to combat obesity and dismantle diet culture. Incubated at Atomic in spring 2020, the company emerged from stealth earlier in 2021 with prior funding including $8M seed and $24M Series A led by GV and Atomic, with Define Ventures participating. On December 16, 2021, Found raised $100M in an oversubscribed Series B round led by WestCap at a $600M valuation, bringing total funding to over $132M. New participants included IVP, The Chernin Group (TCG), G9 Ventures, Able Partners, and angels Fidji Simo (Instacart CEO) and Julia Cheek (Everly Health CEO), alongside existing investors GV, Define Ventures, and Atomic. The funding supports national expansion from 37 states to nationwide by early 2022, infrastructure growth, and hiring key executives like CEO Sarah Jones Simmer, Chief Medical Officer Rekha Kumar, M.D., and Chief Behavioral Health Officer Acacia Parks, Ph.D. Traction includes members losing over 300,000 pounds total, with average 10% body weight loss by month six that is sustained. The company reported 6x revenue run rate growth that year, though specific revenue figures were not disclosed. Allen Mask from WestCap joined the board, emphasizing Found's innovative approach beyond willpower to science and support for lasting results. Found operates in the booming digital health and weight management market, positioning against traditional diet programs with personalized, clinician-backed care accessible remotely. The rapid funding trajectory post-stealth underscores investor confidence in its model amid rising demand for effective obesity solutions. No follow-on rounds or acquisitions noted in sources for this specific event.
Jan 2021Series AAtomic (lead); GV (lead); Define Ventures$24M--
Mar 2020SeedAtomic (lead); Define Ventures$8M--

Who has invested in Found?

10 investors have backed Found across its funding rounds, including Define Ventures, Atomic, GV, IVP, TCG and Westcap.

Lead investors include Westcap, Atomic and GV.


Found Investors

Investors in Found by funding rounds participated
InvestorHQRoundsRoleFirst check
Define VenturesUnited StatesSan Francisco, CA3ParticipantMar 2020
AtomicUnited StatesMiami, FL3LeadMar 2020
GVUnited StatesSan Francisco, CA2LeadJan 2021
IVPUnited StatesSan Francisco, CA1ParticipantDec 2021
Fidji SimoUnited StatesSan Francisco, CA1ParticipantDec 2021
TCGUnited StatesLos Angeles, CA1ParticipantDec 2021
G9 VenturesUnited StatesNew York City, NY1ParticipantDec 2021
Julia Taylor CheekUnited StatesAustin, TX1ParticipantDec 2021

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Found Competitors

Found competitors include listed companies like Nyxoah and Kooth, and private ones like Calibrate, Biopeak, Workit Health and THE WELL.

Public and private companies comparable to Found
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CalibrateUnited StatesNew York City, NYPrivate$21M-$1.3B61.9x
BiopeakIndiaBangalorePrivate$2M-$250M125.0x
Workit HealthUnited StatesAnn Arbor, MIPrivate--$500M-
THE WELLUnited StatesNew York City, NYPrivate--$450M-
NyxoahBelgiumBelgiumPublicly listed$12M($97M)$162M3.2x
KoothUnited KingdomUnited KingdomPublicly listed$85M$13M$90M0.7x

Found Public Comps

Found is still privately-owned, but its public comps include Guiyang Longmaster, Medley Inc., Shua Fitness, Sportsoul, Sphere, Talkspace, Escalade, American Well, Helus Pharma and H100 Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Guiyang Longmaster$44M$5M10.0x-87.9x-
Medley Inc.$236M$32M2.1x1.8x15.7x13.2x
Shua Fitness$234M$26M3.1x2.8x27.9x21.1x
Sportsoul$68M($4M)4.8x4.5x(88.7x)-
Sphere$70M$6M14.3x6.9x156.3x103.0x
Talkspace$229M$6M3.4x3.4x129.3x49.4x
Escalade$240M$24M1.1x1.1x11.2x8.7x
American Well$249M($63M)0.2x0.2x(0.8x)(3.1x)

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Common questions about Found

When was Found founded?Found was founded in 2019.
Where is Found headquartered?Found is headquartered in San Francisco, CA, United States.
Is Found publicly listed?No, Found is a private, VC-backed company.
What is Found's valuation?Found was last valued at $600M in its Series B in December 2021.
How much funding has Found raised?Found has raised $132M across 3 funding rounds.
What was Found's last funding round?Found's last funding round was a $100M Series B in December 2021, led by Westcap.
Who are Found's investors?Found's investors include Define Ventures, Atomic, GV, IVP, Fidji Simo, TCG, G9 Ventures, Julia Taylor Cheek, Westcap and Able Partners.
Which companies are comparable to Found?Companies comparable to Found include Calibrate, Biopeak, Workit Health, THE WELL, Nyxoah and Kooth.

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