FOR IMMEDIATE RELEASE
Nymbl contact: Ed Likovich
Cobalt Ventures contact: Phillip Linville
DENVER – November 5, 2020 – Nymbl Science, the leader in digital, scalable fall prevention for older adults, is pleased to announce the closing of a $4 million Series A funding round. Cobalt Ventures, LLC, the investment arm of Blue Cross and Blue Shield of Kansas City, led the round with additional participation from other Nymbl investors. The proceeds will enable the expansion, support and technical needs of Nymbl’s rapidly growing balance improvement system, thus furthering the company’s ability to meet the needs of older adult populations through Medicare Advantage and Single-Payer insurance systems worldwide.
“We are thrilled by the support of successful investors who see Nymbl as a breakthrough solution in the healthcare space. This investment will help us accelerate our growth as we continue to deliver population-level fall prevention solutions through leading health insurers, both in the U.S. and worldwide,” said Ed Likovich, chief executive officer of Nymbl. “The Cobalt investment gives us the ability to recruit top-notch talent and enhance our product development as we expand our balance improvement platform that has demonstrated a 35 percent reduction in injurious falls. We are also excited to have Phillip Linville, Principal of Cobalt Ventures, join Nymbl’s Board of Directors. His financial and strategic industry knowledge will be valuable as we continue to grow and expand our impact.”
Cobalt Ventures, LLC invests exclusively in high-growth healthcare companies with capabilities that can be scaled and leveraged nationally across the payer universe. Cobalt targets companies that increase the overall quality of healthcare services, improve outcomes and lower costs for customers and members.
“Nymbl is a company that aligns extremely well with Cobalt’s investment strategy” said Phillip Linville. “They have demonstrated the ability to deliver their solution with excellent results through major Medicare Advantage payers and have only scratched the surface of this enormous market opportunity. We look forward to working with Nymbl to achieve and exceed their company mission of preventing one million falls.”
The Series A financing builds on an exceptional year for Nymbl, which saw the launch of Nymbl’s patented balance improvement system through two of the nation’s largest Medicare Advantage Providers, as well as the Accident Compensation Corporation (ACC), New Zealand’s single-payer injury prevention provider.
About Nymbl Science
Nymbl is the only company providing digital balance training that is scalable, insightful, and cost saving for our partners and effective and engaging for older adults. Our scientifically validated balance training program trains the brain and body to work together, known as dual-tasking. Using just a smart device, and in only 10 minutes a day, older adults are preserving and enhancing their freedom and enjoyment of life with Nymbl. We believe it is necessary to empower older adults to increase their confidence and ability to fully participate in life. Join us on our way to preventing 1 million falls. For more information, visit http://www.nymblscience.com.
About Cobalt Ventures, LLC
Cobalt Ventures, LLC is the captive investment subsidiary of Blue Cross and Blue Shield of Kansas City, the largest not-for-profit health insurer in Missouri and the only not-for-profit commercial health insurer in Kansas City. Cobalt owns, or is invested in, a portfolio of innovative companies in the healthcare services industry. Cobalt’s goal is to be a strategic investment partner to help grow companies bringing new and innovative services to the healthcare universe. More information about Cobalt Ventures can be found at http://www.cobalt-ventures.com.