Health-Tech Startup Raises $10 Million to Grow Team, Expand in US
Newtopia, a health company that uses genetic testing and behavioral science to build personalized disease prevention plans for enterprise, has raised $10 million.
The funding came from a syndicate of US and Canadian institutional investors. The capital will help Toronto-born Newtopia grow its team internally and expand its geographic reach in the US.
“I founded Newtopia with one goal in mind – to transform the way businesses engage in employee healthcare and disease prevention,” said Jeff Ruby CEO of Newtopia. “This investment will be used to fuel our continued growth and industry leading outcomes in the health care industry and accelerate the deployment of targeted disease prevention solutions.”
Newtopia’s program aims to improve key health metrics and produce in-year savings in medical costs and ROI for employers by offering a personalized approach that includes key factors such as genetics, personality, motivation, and readiness to change.
Newtopia currently employs 50 and continues to grow the team in both New York and Toronto.
“This is a great opportunity to leverage our deep expertise in healthcare innovation, development and commercialization to help accelerate Newtopia’s growth,” said Brian Bloom, president of Bloom Burton, an investor in the round. “Their unique approach to disease prevention and engagement aligns with our vision in the corporate health space and we’re excited to continue working together.”
