Zerigo Health has secured a $43m in Series B financing round to advance adoption of the connected light therapy solution to treat chronic skin conditions.
Led by 7wireVentures, the financing round saw participation from General Catalyst, Dragoneer, Cigna Ventures, Leverage Health Solutions, and Leaps by Bayer.
Existing investors such as SV Health Investors, H.I.G. Capital, and Bluestem Capital have also participated in the financing round.
The funding will be used by the company to address the growing demand for its connected chronic skin condition solution for more than 40 million Americans living with psoriasis, vitiligo, and eczema.
Under the deal, 7wireVentures managing partner Glen Tullman will join as executive chairman of Zerigo Health’s board of directors. He is also the former founder and CEO of Livongo and CEO of Transcarent,
In a statement, Tullman said: “As the first connected phototherapy solution, Zerigo Health is empowering people to better manage their chronic skin conditions from the comfort of home or any location they choose, while also helping to significantly reduce costs associated with legacy treatment methods and expensive therapeutics.”
The FDA-cleared natural light therapy solution is said to safely and effectively shift dermatological care from the clinic to the controlled convenience of home.
It will help keep physicians and their patients with chronic skin conditions connected with personalised data and insights.
By using a handheld device and smartphone app, patients can easily self-administer clinically proven and the American Academy of Dermatology guideline recommended narrowband ultraviolet B (NB-UVB) phototherapy.
Through cloud-based technology, prescription dosing will be controlled to treat safely as per the physicians’ prescriptions.
In addition, patients will be remotely monitored and provided personal coaching and support across the treatment process, stated the company.
Zerigo Health president and CEO John Schellhorn said: “This new investment capital will help fuel our growth in the health plan and self-insured employer markets as they are eager to offer more cost effective and clinically proven solutions for treating these conditions.”
