US-based Food-as-Medicine Marketplace Project Well raises Seed Funding

US-based Project Well, a new food-as-medicine marketplace that aims to materially improve the lives of those suffering from diet-sensitive chronic disease and food insecurity, raised seed investment on 22 Feb 2021.

Investors: Project Well raised funding from S2G Ventures (S2G), Primetime Partners, Tom Scully, currently at Welsh Carson and former Administrator of CMS, and angel investors from Formation Capital.

About Project Well

Founded in 2019 by Lauren Driscoll, Project Well provides nutritious meals and social connectivity to health plan members. It connects health plans and members to a broad array of food vendors supplying not only nutritionally targeted but also tasty customized meals. Project Well analyses each individual member’s eating habits and provides highly personalized, superior food interventions to those that need it most. Its goal is to provide an effective solution to improve health, slow the progression of chronic disease and reduce healthcare costs. 

Project Well is a smart, Food-as-Medicine market platform that drives lasting dietary change for its health plan members. The platform matches at-risk members with Registered Dietitians as well. It also oversees the entire member experience starting from food education and selection to its consumption.

What the CEO has to say: “Project Well is a Win-Win-Win solution. Payors can reduce medical costs and differentiate themselves in a competitive market. Members and patients also ‘win’ as they can optimize their health and wellbeing. And food producers and vendors also ‘win’ as they gain access to a broad segment of the population that has been slow to adopt and successfully navigate the e-commerce food market.” — Lauren Driscoll, Founder and CEO of Project Well and veteran healthcare executive.

What investors have to say: “There is evidence that clinically tailored meals can reduce emergency department use by 70% and hospital admissions by 52%. Project Well combines the widest choice in food with clinical support to drive impressive adoption rates. This personalized program is the only solution that deeply understands each member’s relationship with food from culture, traditions, income, culinary knowledge, mobility and more – meeting them where they are in their journey to a healthier diet.” — Abby Levy, Co-Founder and Managing Partner at Primetime Partners.

“We are incredibly excited to support Project Well in their mission to make life-changing nutrition more accessible to the most vulnerable. As we continue to see a convergence between food and medicine, we are thrilled to partner with such an experienced executive and group of co-investors that reflect the opportunity in the market.” — Sanjeev Krishnan, Managing Director at S2G Ventures.

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