Bevel Raises $10 Million in Series A Funding to Enhance AI Health Assistant
Bevel, a pioneering New York-based health tech startup, has secured $10 million in Series A funding from venture firm General Catalyst. This investment aims to bolster the growth of Bevel’s AI health assistant, designed to synthesize diverse health data from wearables and daily activities, offering users customized health insights.
The funding comes on the heels of Bevel’s remarkable expansion over the past year. The two-year-old company reports a staggering growth rate, now boasting over 100,000 daily active users. Users engage with the app approximately eight times daily, exhibiting a retention rate exceeding 80% after 90 days—an impressive feat in the often volatile wellness app market.
Bevel distinguishes itself from competitors like Whoop and Oura by offering a purely software-based solution that does not necessitate the purchase of expensive hardware. Co-founder and CTO Aditya Agarwal emphasizes the need for more accessible health management tools, stating, “A $500 ring or band is out of reach for a lot of people. We wanted to leverage the health data users already generate through existing wearables.”
Monthly subscriptions for the Bevel app are available at $6, or $50 annually, making it an economically viable option for users. Unlike many wellness applications that focus on singular aspects of health, Bevel combines various health metrics—sleep, fitness, and nutrition—into a cohesive user experience. The app syncs effortlessly with popular wearables, such as the Apple Watch, and integrates with continuous glucose monitors like Dexcom and Libre.
At the heart of Bevel is its proprietary software, Bevel Intelligence, which analyzes user data and tailors health recommendations based on individual responses to various lifestyle factors, including stress and nutrition.
The inception of Bevel was driven by personal health challenges faced by its founders. Co-founder Ben Yang, alongside Nguyen, experienced significant health issues exacerbated by the demanding startup environment, which underscored the importance of having a unified health tracker.
As Bevel looks towards the future, it has plans to hire additional staff and broaden its service offerings, all while remaining focused on enhancing personal health accessibility for a wider audience. Neeraj Arora, managing director at General Catalyst, remarked, “Bevel’s mission to democratize health through intelligence and design resonates with us, and their user engagement demonstrates the app’s integral role in daily life.”
Key Highlights:
– Bevel raises $10 million to enhance its AI health assistant.
– Reports over 100,000 daily active users with high engagement.
– Offers an affordable subscription model without the need for costly hardware.
– Integrates multiple health metrics into a unified platform.
– Plans for expansion and new service offerings in the health tech space.
