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Omada Health is showing amazing growth on virtually all metrics

4 months ago by Jon Marino in
Omada Health Co-Founder & CEO Sean Duffy

Omada Health ($OMADAHEALTH) just closed a jumbo funding round that values the startup at $600 million, according to a CNBC exclusive this Wednesday. 

The San Francisco-based startup operates an app that started as a relatively simple tool to help people better monitor, track and treat diabetes and pre-diabetes. But, now, even that is changing - and expanding.

A look at Omada's alternative data reflects that the startup - which has been growing - has poised itself to engage with a bigger, and new, set of customers thanks to its work outside of the diabetes space. 

Social Scale

Omada Health is getting plenty of attention from its users, who helped boost its Facebook ($NASDAQ:FB) Likes Count more than 70% since 2018. The company recently branched out of simply treating clients who have diabetes and pre-diabetes, and has since moved into mental health counseling fields like depression and anxiety. Omada was able to do this after adding Lantern Health's software into its platform. 

Staffing Up

Omada has also added a wealth of new talent - the company increased LinkedIn ($NASDAQ:MSFT) Employee Count by 30% just this year alone. As Omada looks to bring push notification treatment reminders to people who are eager to better treat their mental and physical conditions (in part) through digital programs, the fact that its diabetes program last year was one of the first web platforms to be "fully recognized" by the US Center for Disease Control's National Diabetes Prevention Plan after a mandatory two-year waiting period. And, the company's reach grew further thanks to its integration into insurer Cigna's mobile offerings. 

Still Hiring

Our final chart reflects a big spike in job postings for Omada, which immediately preceded its staff size growth. So the fact that Omada has fewer job postings, this time, is a positive because we can tell that it's likely the company simply removed jobs from the web that it had filled, or was in the process of filling. CNBC's funding exclusive Wednesday pointed out the company has more than 550 clients, among them, more than 35 health plans. 

About the Data: 

Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

Further Reading: 

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Jon Marino

Jon Marino is Thinknum's finance editor, covering the impacts of alternative data on public companies and investors. Prior to joining Thinknum, Jon worked in the ...

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