CHICAGO, March 8, 2022 – Cylinder, the leading digital solution for digestive health, has announced a $16 million Series A funding round led by 7wireVentures. The financing round was joined by new investors Human Capital, Intermountain Ventures, SemperVirens, Elements Health Ventures, and Leaps by Bayer. Returning investors FCA Venture Partners, NFP Ventures, Lifeforce Capital, and Big Pi Ventures also participated in the round.
Since 2021, Cylinder has grown the company’s client base by 400% through the addition of key Fortune 500 clients that join existing clients such as US Foods, Bucknell University, and Marpai. The company’s commercial expansion is bolstered by partnerships with best-in-class employer healthcare solutions such as Personifty Health and Accolade. Collectively, Cylinder’s potential member base encompasses over 500,000 covered lives. The company’s continued commercial momentum speaks to the significant opportunity to service the growing employer demand for digestive health solutions.
“The Series A financing round represents another pivotal milestone in our mission to improve our member’s digestive health and provide outcomes at scale for our enterprise partners,” said Bill Snyder, Cylinder Founder & CEO. “We are thrilled to partner with premier investors in this latest round of funding that will enable us to continue our rapid growth trajectory and further establish ourselves as the leader in digestive health.”
Nearly one in four Americans currently live with a digestive disease. Most digestive diseases are difficult to diagnose and complicated to treat, with ever-changing and hard to manage symptoms. As a result, GI disorders collectively cost the US over $136B alone each year in direct medical spend, a meaningful cost burden to individuals and employers alike. Today, digestive health has become a high priority throughout the country and with employer organizations in particular. Cylinders recently published study on the prevalence of GI conditions with the University of Texas, underscores the need for solutions to this growing issue.
Cylinders unique, patient-centric approach provides an all-in-one digestive health solution, enabling the company to achieve patient outcomes at scale and lower GI costs for employers. According to a recently completed business case, Cylinder provided direct medical cost reductions resulting in a 3 to 1 ROI for a large employer organization.
Cylinder’s solution empowers members to improve their overall and digestive health through personalized, comprehensive care. In a recent survey, 87% of members stated they better managed their digestive symptoms and 83% of members said they felt healthier.
“The current experience for individuals with GI disorders is at a minimum inadequate and frustrating, and for many, debilitating. To no surprise, over 40% of people with a GI condition are dissatisfied with their care,” said Robert Garber, Partner at 7wireVentures. “Cylinder is on a mission to change that. We are thrilled to partner with the company at a true inflection point in their growth story and accelerate access to a proven, evidence-based model that drastically improves the consumer experience while reducing costs for employers.
The latest round of funding will accelerate Cylinder’s efforts to drive world class care to the organization’s rapidly growing member base and scale their commercial growth.
About Cylinder
Cylinder delivers personalized, clinician-backed care to those suffering from digestive issues through its virtual health platform and has helped has helped over 100K members to date. Cylinder’s platform offers dynamically updated content and care plans designed to improve engagement and outcomes. Members enjoy access to a dedicated care team nationwide, including health coaches, registered dietitians, and GI doctors. Cylinder’s vision is to create a world where people receive convenient, personalized, and affordable access to the quality digestive health care they need to improve their overall health. Trusted by businesses including Texas A&M University, US Foods, and more, Cylinder showcases up to 5:1 ROI and an average of 13% employee engagement.
