31 Oct Healthtech startup Carrot, backed by $25M from Johnson & Johnson Innovation, wants to commercialize its digital health solution to help people quit smoking
Did you know smoking is the leading cause of preventable illness and death worldwide? Smoking kills 500,000 people in the U.S. each year and more than six million globally. Smokers cost their employers more than $7,000 annually, per person, in excess healthcare and lost productivity. They are also up to two times more likely to develop diabetes and take twice as long to recover from fractures. Carrot is a health tech digital health startup on a mission to use mobile technology, behavioral science, and clinical expertise to engage and empower millions of people to quit smoking.
Carrot has just raised $25 million funding round to commercialize its Pivot smoking cessation program. The latest round is led by Johnson & Johnson Innovation Inc. (JJDC) with participation from New York Life Ventures, Khosla Ventures, Marc Benioff, and R7 Partners. In conjunction with the funding, the company also announced that an investor from JJDC will join Carrot’s board of directors.
Founded in 2015 by David S. Utley, Pivot’s unique six-stage program is designed to engage smokers earlier than other cessation plans, without pressuring them to quit. It begins by helping them become more aware of their smoking and more confident in their ability to do something about it. Then, for those who decide they’re ready, Pivot helps them build and execute a quit plan, with one-on-one coaching support until their quit is stable.
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