Kumanu, Foromerly JOOL Health, Closes $4.5 Million Series Seed Preferred Round
Leader in Precision Well-Being™ fuels further growth with substantial investment in product development, marketing, and sales
Ann Arbor, Mich., October 4, 2017, – Kumanu, formerly known as JOOL Health, the leading provider of scalable, digital Precision Well-Being™, announced a Series Seed Preferred investment of $4.5 million led by Grand Rapids, Michigan based CVC JOOL Investors, LLC. CVC has invested $1.6 million with additional funds from Tappan Hill Ventures, Michigan Angel Fund, Wakestream Ventures, and angel investors. This financing will accelerate product development, marketing, and sales efforts. Robert C. Boylen, Managing Principal of CVC, will join Kumanu’s Board of Directors.
“I like big ideas that can change an industry, but I invest in people,” said Boylen. “My excitement and commitment level came from the fact that in JOOL, I have both – a game-changing product that comes along with a proven visionary and respected thought leader surrounded by a seasoned leadership team to see potential become reality. JOOL is uniquely positioned to positively impact people, their organizations, and their community.”
Kumanu is the world’s first digital health solution based on the science of purposeful living – a behavioral approach associated with positive health outcomes, including lower risk of heart attack, Alzheimer’s Disease, and depression; improved self-care of chronic health conditions; greater resiliency under stress; and greater productivity along with fewer sick days.
“We are extremely pleased to see such strong interest from the Michigan investment community,” said Vic Strecher, PhD, MPH, founder and CEO of Kumanu. “We have a tremendous group of investors committed to Kumanu and enthusiastic about Kumanu’s impact on individual well-being and organizational performance. We’re excited to have additional resources to maximize our growth.” The highly successful fundraising (almost three times the average investment floor for companies in the Other Technology sector) is a great indicator of investors’ confidence in and commitment to JOOL Health’s future.