Beyondbmi Raises €1 million in Seed Funding to Transform Obesity Treatment
- Company plans to expand into UK market in 2024
Beyondbmi, a pioneering medically-led digital obesity clinic, today announced that it has closed a €1 million seed funding round, led by private investors and Enterprise Ireland. This brings to just over €1.5 million the total raised by the University College Dublin (UCD) spin-out company this year.
The new funding will be used to further develop and expand Beyondbmi’s services.
The latest funding round was supported by new and existing investors including; Mick Slein (Chairman of Robus), David O’Reilly, Paddy Dillion (Head of Corporate Finance in Grant Thornton), Bill Walsh, John Purdy (Chairman of Ergo and Beyondbmi), among others, marking a significant milestone in the clinic's mission to transform the landscape of obesity care.
Beyondbmi, which is headquartered at NovaUCD in Dublin, offers a unique approach to addressing obesity through personalised medical interventions, community support, and cutting-edge technology. The clinic's platform has already made a substantial impact on the lives of its clients, referencing an average weight loss of 10% at Month 6, demonstrating the effectiveness of the clinic's comprehensive, wrap-around approach to obesity care.
A UCD School of Medicine spin-out Beyondbmi was founded by medical doctor Dr Harriet Treacy and product designer Peter Lumley with support from senior team members including world-leading obesity scientists and clinicians, Professor Carel Le Roux and Dr Werd Al-Najim, UCD School of Medicine and UCD Conway Institute and Professor Alex Miras, Ulster University.
Dr Harriet Treacy, CEO, Beyondbmi, said, "Beyondbmi's mission goes beyond weight loss, it focuses on the significant health gains its clients experience. These improvements range from increased mobility, reduced reliance on blood pressure medications, and a return to more active and engaged lives with their families.
We have seen, on average, 30% month-on-month growth in sign-ups since we began trading at the end of 2022. But more important than that, it's the stories of our amazing clients and our incredible community that has consolidated the extent of the impact that we are having on people’s lives.”
She added, “This latest seed funding injection underscores the commitment of our investors to support Beyondbmi's vision of providing accessible and effective obesity care that prioritises the well-being and quality of life of its clients. Beyondbmi also plans to expand operations to the UK in 2024, providing our innovative obesity care solutions to a broader international audience.”
The new funding will be used by the company to invest in its mobile app, to provide clients with more convenient access to their personalised obesity care plans and a supportive community, to hire additional staff to scale its B2B offering, and to expand its expert clinician team, bringing in more specialists to cater to the diverse needs of its growing community.
Professor Alex Miras, Ulster University, a leading obesity expert in the field, emphasising the importance of Beyondbmi's work said, "Everyday, I have clients telling me they have been made to feel that obesity is their fault. As an obesity researcher and clinician, I see the detrimental impact this message has had on their lives and overall health, oftentimes developing conditions as a result of untreated obesity such as high blood pressure, chronic knee and back pain and fertility issues. Beyondbmi is much more than just a digital obesity clinic, for many of our clients, it is the first time they have been really listened to and supported in managing this disease.”
ENDS
5 December 2023
For further information contact Micéal Whelan, Communications and Media Relations Manager, NovaUCD, UCD Research and Innovation, e: miceal.whelan@ucd.ie or Dr Harriet Treacy, Beyondbmi, e: drharriettreacy@beyondbmi.ie
Editors Notes
Beyondbmi combines doctor-prescribed anti-obesity medication with nutritional therapy and one-to-one accountability coaching to deliver health gains through the biology of weight loss. www.beyondbmi.ie