Bevel, a health tech startup based in New York, has raised $10 million in a Series A funding round led by General Catalyst. The investment aims to enhance Bevel’s AI health companion, which integrates data from wearables and daily habits to provide personalized health insights.
Overview of Bevel’s Growth
In just two years, Bevel has experienced remarkable growth, increasing its user base more than eightfold over the past year. Currently, the app serves over 100,000 daily active users, establishing itself as one of the fastest-growing health apps in the United States.
User Engagement and Retention
- Average app usage: Users open the app eight times daily.
- User retention: Over 80% at 90 days, a significant achievement in the health app industry.
Unique Offering in the Health App Market
Unlike many competitors that require expensive hardware, Bevel focuses on a purely software-based solution. This flexibility allows users to leverage existing wearables. Bevel’s subscription options are user-friendly, priced at $6 per month or $50 annually.
Integration with Popular Devices
Bevel connects with various wearables, including:
- Apple Watch
- Continuous glucose monitors (Dexcom and Libre)
- Future integrations with Garmin
Founders’ Motivation and Vision
The company was co-founded by Grey Nguyen and Ben Yang, who both have backgrounds in technology and health. Nguyen’s experience with chronic health issues sparked his interest in creating a tool that consolidates health data for better understanding and management. His journey involved piecing together various health metrics to address his own back pain.
Shared Goals and Team Expansion
Aditya Agarwal, another co-founder and a partner at South Park Commons, joined the team after recognizing the shared vision of empowering individuals to take control of their health data.
Bevel’s mission is to democratize health through accessible tools that enhance user engagement. With fresh capital and collaborative partnerships, the company plans to broaden its health services and maintain its rapid growth in the market.
General Catalyst’s Neeraj Arora reflected on Bevel’s mission, noting its significant user engagement and potential to integrate seamlessly into users’ daily lives.
