Found comes out of stealth with $32M in funding, former Bumble exec as its new CEO

Found
142 Episodes • Last Episode: April 23, 2024

Found, a startup focused on weight care management, is emerging from stealth today with $32 million in total funding and the news that it has appointed former Bumble COO Sarah Jones Simmer as its new chief executive.

Found was incubated at Atomic, a San Francisco-based venture studio in the spring of 2020. Earlier this year, it raised $24 million in a Series A round led by GV (formerly Google Ventures) and Atomic, with participation from Define Ventures. And over the course of the last year, it raised $8 million in previously unannounced seed funding, largely from Atomic in addition to Define Ventures.

Jack Abraham, co-founder of Found and Atomic managing partner, said the startup was built to address the “challenging” issue of weight care while incorporating telehealth. (Abraham also is a co-founder of hims and hers, a telehealth service for wellness and care.)

With over 70% of the population overweight or obese and these numbers increasing at a concerning rate, we saw a need for a personalized, science-based approach to help bend the curve,” said Abraham, who initially started Found with Atomic’s Emily Yudofsky.

And while some point solutions exist for a specific medication or treatment, Abraham added, Found was started in an effort to offer “a comprehensive, tailored, and precision-based solution to help anyone looking to lose weight.”

By comprehensive, he means that the startup draws from “dozens” of medications, supplements, diet plans, exercise routines and coaching programs to help its members achieve their personal weight and health goals.

Since its 2020 launch, Found has helped “tens of thousands” of members lose over 200,000 pounds, according to co-founder and COO Swathy Prithivi, who had served as the company’s interim CEO before Jones Simmer’s hiring earlier this month. It is currently available in 31 states at an average cost of $100 per month with a variety of plans.

“A lot of what spurred creating Found was that obesity is a disease, not a decision, and that it’s time that we modernized weight care so that obesity is treated like a disease and not a decision,” she told TechCrunch.

Weight, continued Prithivi, is “deeply stigmatized” as a category.

“We’ve all been told to eat less and move more, and then shamed for our lack of willpower when we don’t see success,” she said, “but there’s very little success to be seen when 50% of the U.S. is on diets but only 5% lose weight. And this is despite decades of research that show us that losing weight and keeping it off is more than just diet and working out.” 

Found, she said, aims to help people focus more on body positivity and what they can “find” — such as being able to finish a 5K or keeping up with their grandkids or a newfound confidence — during their weight management journey. And it does it by combining advice from clinicians, a community of others going through the same process and “prescription interventions” when deemed necessary. The company aims for a holistic, personalized and integrated approach that includes addressing sleep, “mindful” eating, movement, stress and a person’s biology.

Jones Simmer comes to Found from Bumble, where she laid the foundation for that company’s entire initial public offering. During that process, she was battling Stage 3 breast cancer — doing drafts of the S-1 from a chemo chair and sending it to the board the morning of her double mastectomy.

The move to Found from a company she’d worked at from its early days of being founded out of a two-bedroom apartment was, in large part, a personal one that stemmed from her experience in battling cancer. She was also drawn to the company’s mission to fight stigma around obesity and weight loss in a similar way that Bumble fought stigmas around online dating.

“I entered remission very shortly after the IPO, and after a pretty grueling year or so of treatment that I think was like, 20-plus rounds of chemo, multiple surgeries and 37 rounds of radiation,” Jones Simmer said. “ All of that really causes you to reflect on how you want to spend your days and what’s important to you.”

So despite her deep respect for Bumble CEO and founder Whitney Wolfe Herd, and love for the company and team, Jones Simmer left Bumble earlier this year because she wanted to “take a bet” on herself.

“At one point during my fight with cancer, my doctor gave me a timeline that made me reconsider whether I had a lifetime to achieve my personal and professional goals,” she said. “My prognosis looks better now, but my viewpoint has changed permanently.”

Plus, she says, she missed building and wanted to go back to something earlier stage.

“I wanted the chance to integrate the lessons I learned at Bumble and really think about building something else that had a similar opportunity for impact and that could touch people’s lives,” Jones Simmer told TechCrunch.

Today, Found has 130 employees, including its coaching staff, and a large part of its capital will go toward expanding its headcount. The company also announced today that it has named Alexandre Linares as its new chief product officer. Linares previously served as the VP of product at Headspace, where he oversaw product and growth for the app, which today serves an estimated 70 million people.

GV Partner Frederique Dame, who has also invested in the likes of Pill Club and Kindbody, has joined Found’s board as part of the Series A.

She said she backed Found because its mission resonated with her. 

“Found takes a fresh approach to helping people lose weight, bringing the weight clinic model online with personalized, evidence-based coaching designed to improve patient outcomes,” wrote Dame via email.

Also, Dame and Prithivi worked closely together at Uber from 2012 to 2016.

“I always admired her focus and dedication to operational excellence,” Dame said.

Found, she believes, is unique in two key ways. For one, its toolkit’s diversity. And second, its approach to stigma and attempting to shift the narrative around weight management.

“It’s the most integrated platform, and the most tailored to your needs,” Dame told TechCrunch. “And, Found makes access to care easy and convenient, while emphasizing body positivity and self acceptance.”

The article was updated post-publication to reflect that Austin is not its headquarters. Found is actually remote-first but its new CEO is based in Austin.

Found

Hosts

Author Avatar
Mary Ann Azevedo

Sr. Reporter

Latest

Found

Episodes

Joselyn Lai appeared on TechCrunch’s Found to discuss her company and its hopes of driving down the cost of a proven technology to address the…

Bringing down skyscrapers’ sky-high carbon footprint with Joselyn Lai from Bedrock

Founded by Louis Tremblay, FLO is looking to build robust EV charging infrastructure that will create a reliable web for drivers to get to where…

FLO is improving EV charging infrastructure

The global demand for wood could grow by 54% between 2010 and 2050, according to a study by the World Resources Institute. While some building…

Cambium is building a recycled wood supply chain

Nick Green, one of the company’s co-founders, stopped by Found to chat about his company and the market’s evolution since he first launched it.

Thrive Market’s Nick Green talks building a billion-dollar grocery company

As the planet warms due to human-caused climate change, damage from wildfires has increased with it. The amount of forest area burned by wildfires increased…

Vibrant Planet uses AI for land mapping and improving climate resiliency

Fintech exploded over the last five years. Startups in the category raised more than $350 billion in VC funding from 2019 through 2023, according to…

Ramp CEO says the fintech startup is just scratching the surface

This week, Glacier co-founder Rebecca Hu chats with Found about wish-cycling and robots.

Glacier is training AI-powered recycling robots

Founders have spent a lot of time over the past few years trying to build practical consumer use cases for AI and machine learning. AI…

AI could be the solution for bureaucracy, with Emilie Poteat from Advocate

This week, Dom spoke with Ariel Kaye, the founder of the home lifestyle brand Parachute.

Ariel Kaye built a brand that’s outlasted the DTC boom

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Shan-Lyn Ma, the co-founder and…

Zola wants to bring the wedding industry into the 21st century

This week Becca and Dom are joined by Tigran Sloyan, the co-founder and CEO of skills assessment platform CodeSignal.

Tigran Sloyan from CodeSignal talks closing the talent gap and mitigating bias in hiring

This week Becca and Dom are joined by Beatrice Dixon, the CEO and co-founder of The Honey Pot.

How Beatrice Dixon bootstrapped until The Honey Pot found a home

Welcome back to Found, where we get the stories behind the startups.

Navigating media’s ups and downs with theSkimm co-founders

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Ben Goodwin, the co-founder and…

Where gut health meets hypergrowth with Ben Goodwin from Olipop

This week Becca and Dom are joined by Gabi Lewis, the co-founder and CEO of the cereal company Magic Spoon.

How Magic Spoon CEO knew it was time to transition from DTC to in-store retail

This week Becca and Dom are joined by Markus Witte, the co-founder of the language learning platform Babbel.

What Babbel co-founder has learned over 20 years in the language learning industry

Becca and Dom are joined by Charlie Hernandez, the founder and CEO of My Pocket Lawyer, an online platform that is meant to democratize access…

My Pocket Lawyer aims to make justice more accessible

Welcome back to Found. This week we are joined by James Wagoner, the co-founder and CEO of Joule Case, a startup that is creating a…

Crowdfunding a cleaner power solution for mobile businesses

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by David Rogier, the founder and…

Why does MasterClass work? with David Rogier from MasterClass

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Neil Batlivala, the CEO and…

Building for Medicaid’s regulatory moment with Neil Batlivala from Pair Team

Host Becca Szkutak is joined by our old friend Darrell Etherington to talk with Nasrat Khalid of Aseel.

Building digital infrastructure for developing countries with Nasrat Khalid from Aseel

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Giovanni Fili, the founder and…

Solar-powered everything with Giovanni Fili of Exeger

Welcome back to Found, where we get the stories behind the startups. This week we talk with Professor Esther Rodriguez-Villegas from Acurable.

Making wearable medical devices more patient-friendly with Professor Esther Rodriguez-Villegas from Acurable

Welcome back to Found, the podcast where we get the stories behind the startups.

Found: Live from TechCrunch Disrupt with cybersecurity trailblazer Window Snyder from Thistle Technologies

This episode dives into building a company later in life, the clean beauty movement and when to know to split a startup into two entities.

Taking learnings from working at Amazon to clean beauty with Jaleh Bisharat from NakedPoppy

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Graham Hine, the co-founder and…

Using AI to talk to trees with Graham Hine from ePlant

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Ida Josefiina, the co-founder and…

A social platform to map the way we think with Ida Josefiina from Sane

When Window Snyder started security infrastructure startup Thistle Technologies in 2020, she already had a decades-long career in cybersecurity under her belt. Snyder first made…

Window Snyder talks striking out on her own in cybersecurity at TechCrunch Disrupt

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Feyi Ayodele, the co-founder and…

Enabling equitable cancer prevention with Feyi Ayodele from CancerIQ

Welcome back to Found, where we get the stories behind the startups. This week Becca and Dom are joined by Marco Zappacosta, the co-founder and…

Fifteen years in and still early to the industry with Marco Zappacosta from Thumbtack