DENVER--(BUSINESS WIRE)--As the nation's leader in scalable, digital fall prevention for older adults, Nymbl Science is pleased to announce the closing of a $12 million Series B funding round. Cobalt Ventures led the round, alongside co-lead Outcomes Collective Growth Capital, and with additional participation from 450 Ventures. The proceeds will enable the expansion and support of Nymbl’s rapidly growing balance improvement system, which now has close to one million covered lives among older adult populations through Medicare Advantage and single-payer insurance systems worldwide.
“We are thrilled by the support of successful investors who see Nymbl as a breakthrough solution in the older adult digital health space. This investment will help us accelerate our growth as we continue to deliver population-level fall prevention solutions through leading health insurers, both in the U.S. and worldwide,” said Ed Likovich, chief executive officer of Nymbl. “The Cobalt investment gives us the ability to recruit top-notch talent and add two new product lines to our balance improvement platform that has already demonstrated a 35 percent reduction in injurious falls. We are also excited to have David Eichler, Managing Partner of Cobalt Ventures, along with Rohit Seth, Managing Partner of Outcomes Collective Growth Capital, join Nymbl’s Board of Directors. Their financial and strategic industry knowledge will be valuable as we continue to grow and expand our impact.”
“Nymbl is a company that aligns extremely well with our investment strategy,” said Phillip Linville, Principal at Cobalt Ventures. “They have demonstrated industry-leading engagement and outcomes in helping older adults achieve better quality of life through improved balance, while lowering costs and improving member experience for Medicare Advantage payers. Nymbl has only scratched the surface of this enormous market opportunity, and we look forward to working with them to support their company mission of empowering older adults to live thriving lives.”
The Series B financing builds on an exceptional year for Nymbl, which saw Nymbl’s reach increase to one million covered lives based on market-leading outcomes of older adult activation and engagement, cost reduction, and quality improvement. Externally, BMC geriatrics rated Nymbl as a top four digital program in the world in their review of fall prevention programs. UCSF Health Hub Digital Awards ranked Nymbl in the top eight consumer wellness programs nationally for both of the last two years.
About Nymbl Science
Nymbl is the only company providing digital balance training that is scalable, insightful, and cost saving for our partners and effective and engaging for older adults. Our scientifically validated balance training program trains the brain and body to work together, known as dual-tasking. Using just a smart device, and in only 10 minutes a day, older adults are preserving and enhancing their freedom and enjoyment of life with Nymbl. We believe it is necessary to empower older adults to increase confidence and the ability to fully participate in life, because aging is not less. Join us on our way to preventing 1 million falls. For more information, visit www.nymblscience.com.
About Cobalt Ventures, LLC
Cobalt Ventures, LLC is a wholly owned strategic venture capital subsidiary of Blue Cross and Blue Shield of Kansas City, the largest not-for-profit health insurer in Missouri and the only not-for-profit commercial health insurer in Kansas City. Cobalt invests in high growth companies that align with Blue KC’s mission and can scale nationally across the payer industry. Cobalt actively partners with entrepreneurs in bringing innovative solutions to healthcare that increase overall quality, improve outcomes, and lower costs for customers and members. More information about Cobalt Ventures can be found at www.cobalt-ventures.com.