Big Health

Big Health helps individuals improve their mental health through tech-based cognitive behavioral therapy. It offers two digital products: 1) Daylight for anxiety and 2) Sleepio for improving sleep patterns.

In June 2019, Big Health partnered with CVS Health (the company which operates the CVS pharmacy chain and Aetna, a health insurance provider) to bring Sleepio into CVS pharmacies. In March 2020, the company offered its products for free to employers to help during the Covid-19 pandemic and grew its user base four-fold as 70 organizations signed up with Big Health.

Big Health reported doubling the number of lives covered YoY while achieving a utilization rate of more than 40% in 2020, far above the low single-digit utilization rates of other telehealth providers. The company had 10 million lives covered as of January 2022. The company’s major partnerships include enterprise clients such as Delta Air Lines and the National Health Service (NHS) in England and Scotland, which increased the number of lives covered by more than 2 million. 

In May 2022, the company received a recommendation from the National Institute for Health and Care Excellence  for Sleepio as an alternative to sleeping pills such as zolpidem and zopiclone within the UK.

In July 2023, the company acquired digital therapeutics provider for adolescents , Limbix , for an undisclosed amount. This acquisition marked the entry of Big Health into the adolescent mental health market. Through the acquisition, Big Health will add Limbix’s digital therapeutics (DTx) to its portfolio. This addition will include both of Limbix’s DTx solutions, Daylight therapeutic (for anxiety), Sleepio (for insomnia), and SparkRx (for adolescent depression). Additionally, a DTx solution for adolescent anxiety, which is currently under development by Limbix, will also be absorbed into Big Health’s portfolio.    

Funding and financials

The company's latest funding round took place in January 2022, when it concluded a USD 75 million Series C funding round led by SoftBank Vision Fund 2 and the funds were allocated towards accelerating commercialization as well as expanding the product coverage by launching six new DTx by 2024.