12 Feb 2020

OurPath becomes Second Nature and closes $10m Series A

By Melanie

This week, BGV portfolio company, OurPath announced that it is changing its name to Second Nature and has closed $10m in a funding round led by Beringea. BGV participated in the round to demonstrate our ongoing support for the company which has scaled to reach over 15,000 customers.

Second Nature is a ‘habit change’ programme that combines advice from health experts with tracking technology via a smartphone app to help people lose weight and reduce the risk of type-2 diabetes.

Ambitious and mission-driven

Writing about their rebrand, founders Mike and Chris recall starting out in 2015 “with an ambitious goal….[to] solve type 2 diabetes, help millions of people living with the condition, and save the NHS £10 billion each year”.  On reflection, they wonder if “as two 25-year olds, [they] were probably delusional.”

We didn’t think they were.

We first met the team when they applied to be part of BGV’s Winter 2015 cohort and became their first institutional investor five years ago. BGV invests early in high potential tech for good businesses and the OurPath team demonstrated plenty of what we look for.

Lasting positive change at scale

The company is entering an exciting new phase; scaling in the UK and internationally to help people develop positive, healthy habits whatever their background or life situation.

The scale of the obesity problem in the UK is vast. Over 42 million people are overweight or obese, with 5 million at high risk for type 2-diabetes. According to Public Health England, the overall annual cost of obesity to wider society is estimated to almost double from $35 billion to $65 billion by 2050.

We reinvested in the business because we’re confident that Second Nature can not only scale to reach millions of new customers but can deliver lasting positive change for them. Second Nature’s research shows that almost 10,000 people on its course have recorded an average weight loss of 5.9kg at the 12-week mark. Their published and peer-reviewed scientific data concludes that much of this weight loss is sustained at the 6-month and 12-month mark — a key indicator of long-term, beneficial, lifestyle change.

Find out more about Second Nature.