Cara Care, a Berlin-based digital health startup, announced on Monday that it has secured a $7M equity financing round, bringing its total raised to $16M.
The round was led by family-owned international food and nutrition manufacturer Dr. Schär AG, alongside existing investors Sabadell Asabys and Johnson & Johnson Innovation – JJDC, Inc.
How will the funding be used?
The funding will enable the German company to accelerate the commercialisation of its IBS solution in Germany and the US, and expand to France and other European markets.
The company also plans to broaden its portfolio of digital therapeutics within and beyond gastrointestinal health.
Appointed new CEO
Besides funding, the company Cara Care also announced the appointment of James “Jim” Mapes as the new CEO.
Mapes will join founders Jesaja Brinkmann and Dr. Andre Sommer, and Chief Operating Officer Felix Köhler, in scaling the Cara Care platform.
Mapes brings more than 30 years of global healthcare technology experience to Cara Care, including more than a decade in healthcare growth, population health operations, and technology services.
“With Jim’s leadership and this new funding, Cara Care is now better positioned than ever before. We are working hard to improve care for millions of people with gastroenterological diseases who have fallen completely through the cracks of our healthcare systems,” says Dr. André Sommer, managing director and co-founder of Cara Care, and a medical doctor.
Digital therapeutics company
Founded by Andre Sommer, Dankrad Feist, and Jesaja Brinkmann, Cara Care (HiDoc Technologies GmbH) is a digital therapeutics company that empowers patients suffering from chronic digestive diseases to have a better life.
The company takes digestive health beyond the pill, bringing together behavioral, microbial, and nutritional data.
Cara Care for IBS (Irritable bowel syndrome) was developed by physicians, and it continues to be managed by a team of medical experts, including nutritionists, psychologists, and other specialists.
Cara Care has also developed medical devices for heartburn-related conditions and chronic inflammatory bowel diseases (Crohn’s disease and ulcerative colitis) on the market. Further therapeutic areas are currently being developed.
The company’s digital therapy for irritable bowel syndrome (IBS) was recently approved by the German federal health authority as the first reimbursable prescription digital therapeutic in the gastrointestinal space.
Cara Care for IBS is available in the Google Play Store for Android and Apple App Store for iOS. Cara Care has already helped 700.000+ patients around the world with software-based medical devices.
“Cara Care is excited to be adding a high-caliber CEO with diverse and dedicated servant leadership skills to our Board of Directors,” says Bradley Fluegel, Cara Care’s Chairman of the Board, healthcare industry advisor, and former Walgreens executive.
He adds, “Jim’s extensive background and experience create the leadership perspective needed for our teams to broaden our digital footprint, focus on quality, and scale in this new market.”
“The Dr. Schär family has been working for 100 years to serve people with special dietary needs to live better lives,” says Dr. Philipp Schoeller, CEO of Dr. Schär AG. “In Cara Care, we have found a partner who can make this mission even more successful with the help of the most innovative technologies. We are extremely excited about working with the team and Jim Mapes as an excellent addition to the management.”