Nymbl Raises $4M Series A to Enhance Fall Prevention Technology for Seniors

November 17, 2020
Nymbl Team
Photo: nymbl 

Tomorrow’s solutions are engineered to ensure today’s problems become a thing of the past. With its modern balance improvement technology, Denver startup Nymbl Science is aiming to help older adults relax and actively enjoy their lives without the age-old fear of falling down.

On Monday, Nymbl announced the closing of its Series A round that raised $4 million, led by Cobalt Ventures. The funds will allow Nymbl to enable the expansion, support and technical needs of its platform, as well as grow its team.

“We currently have 11 team members and are actively seeking out other great candidates for our open positions,” Lo Schroeder, senior marketing manager for Nymbl, told Built In. The company is currently recruiting for a number of rules including C# product developer, implementation specialist, client success associate and vice president of payer sales.

The company began in France, where surgeon Dr. JP Farcy found that balance can be improved most effectively by simultaneously employing physical exercise and cognitive challenge; a process called dual-tasking. Today, Nymbl implements this process via smartphone technology, so users can train their body and mind and have fun at the same time.

Falls are the leading cause of fatal injury among adults aged 65 and older, according to the National Council on Aging. In addition to this, the Centers for Disease Control and Prevention found that three million older adults are treated for fall injuries each year. To date, Nymbl’s balance improvement technology has reduced the rate of users’ injurious falls by 35 percent.

“I think that is enough to maintain balance in a population which is losing it, losing quality of life. So what we want is to keep this balance that is life,” Farcy said in a company video.

As part of the new investment, Phillip Linville, principal of Cobalt Ventures, is joining Nymbl’s board of directors, a move aimed at furthering the company’s growth and expanding its overall impact. Cobalt invests in high-growth healthcare startups that increase the quality of healthcare services, improve outcomes and lower consumer costs.

Ed Likovich, Nymbl’s CEO, said in a statement that the company is “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,” Likovich continued.

Cobalt is looking forward to the future in its partnership with Nymbl as it aims to prevent one million falls.

“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,” Linville said.

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