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Fello, the Peer Support Platform for the Loneliness Epidemic, Raises $10.4M

Fello, the Peer Support Platform for the Loneliness Epidemic, Raises $10.4M

December 19, 2024 Craig Etkin
  • Led by former Uber Exec with an initial raise of $10.4 million including a seed investment from Glen Tullman’s 62Ventures, The Capital Factory Fellowship Fund, Katalyst Capital and Offline Ventures.
  • Center for Disease Control (CDC) data shows 1 in 3 adults report feeling lonely, a health problem that the US surgeon general cites as having the same impact as smoking 15 cigarettes per day.
  • Tens of millions more are struggling with mental health & addiction and attempting to manage it on their own.
  • Fello offers an affordable, social health alternative to loneliness with a platform that connects people seeking guidance to “Fellos” with real life experience in substance use, parenting, relationships and more.

December 03, 2024 11:00 AM Eastern Standard Time

CHICAGO–(BUSINESS WIRE)–Meet Fello: The innovative peer support platform for the loneliness epidemic which connects anyone seeking connection and guidance to people who can help them because they have gone through the same exact struggle. Led by former Uber Eats executive Alyssa Pollack, who co-founded and co-led Uber Eats on its path from zero to $15 billion in revenue, Fello announced it has raised $10.4 million to-date, including a seed investment from Glen Tullman’s 62Ventures, The Capital Factory Fellowship Fund, Katalyst Capital and Offline Ventures, amongst others. Fello’s mission is to give everyone access to peer support – regardless of what they’re going through.

Tens of millions of Americans are struggling with uncertainty, anxiety, addiction and trying to manage these problems completely on their own. The Center for Disease Control (CDC) reports that one third of adults say they feel lonely, a health problem that the U.S. surgeon general cites as having the same impact as smoking 15 cigarettes per day. Further to that, tens of millions are struggling with mental health challenges without any help. While therapy has become more mainstream in the last several decades, traditional therapy is a luxury that many cannot afford and which can’t scale to serve all those who need support.

Fello is reimagining how people get support with a virtual marketplace where everyday people can turn their lived experiences into a superpower to help people who are struggling. The app launched this fall with coverage across four areas — relationships, parenting, drug use and alcohol use — and has plans to expand to additional topics in the coming months.

Fellos are trained to pair the wisdom of lived experiences with the knowledge of active listening, by undergoing vetting and training processes developed with a team of leading clinicians led by Clinical Psychologist Dr. Thekla Ross and Fello’s Chief Medical Officer, Dr. Adam Glasofer. By sharing their stories and wisdom, Fellos can earn up to $56/hour. For Finders – or those seeking support – a 30-minute video check-in with a Fello is an affordable alternative to traditional therapy, costing just $40. Support is easily accessible through virtual check-ins, which can be scheduled at any time and from anywhere in the U.S. All Fellos undergo a process that includes background and reference checks, completion of training modules, and an assessment before they can begin offering check-ins.

CEO and co-founder Alyssa Pollack said: “Telling the growing number of people struggling with loneliness that traditional therapy is their only option is like sending everyone with a stubbed toe to the emergency room. Fello is here to bridge the widening gap for those seeking help from others who have successfully navigated similar challenges—whether it’s the stress of parenting or the struggle of addiction. Utilizing the technology and rapid growth operations that built the gig economy, we are creating a platform that makes it easy to connect and get support from someone who’s been in your shoes.”

Peer-supported healthcare isn’t new. In fact, it’s been driving successful outcomes over the last 40+ years across a wide range of areas, including mental health, addiction recovery, and overall well-being. According to Mental Health America, both quantitative and qualitative evidence indicate that peer support lowers the overall cost of mental health services specifically by reducing re-hospitalization rates and days spent in inpatient services, increasing the use of outpatient services. Peer support improves quality of life, increases and improves engagement with services, and has a positive impact on an individual’s overall health.

Fello is building on this movement and modernizing it, with a mission to enable everyone to have access to peer support – regardless of what you’re going through. It provides support that’s more affordable, available, accessible and approachable.

Fello was initially conceived by Jeff Werring and Pete Kadens as part of their personal journeys seeking help from addiction and finding sobriety. Kadens, a seasoned entrepreneur and renowned philanthropist who currently serves as founder of Hope Chicago (one of the country’s largest scholarship funds) and previously served as CEO and cofounder of Green Thumb Industries and SoCore Energy (now Engie Solar), later tapped ex-Uber Eats exec Alyssa Pollack to join as a co-founder and CEO of Fello. The leadership team includes Chief Marketing Officer Meg Donovan (MasterClass, Uber), Chief Medical Officer Dr. Adam Glasofer (Amazon, Virtua Health), Chief Experience Officer Carlin Park (Homeward, Livongo), Clinical Advisor Dr. Thekla Ross (Kaiser Permanente), Head of Product & Analytics Samir Lakhani (Upwork, Coinbase), Regulatory Advisor Brian Vandenberg (Livongo, American Medical Association).

Fello’s co-founders realized the need for a modern-day version of a peer-to-peer support community based on their own challenges. After struggling with addiction and finding that outlets like rehab and Alcoholics Anonymous were incomplete solutions for long-term recovery success, Fello co-founder Jeff Werring approached longtime friend Pete Kadens (who is 17 years sober) to partner on a solution.

Kadens said: “When Fello co-founder Jeff Werring came to me with this idea, I knew we had to do something to change the way people help and heal – and make it both affordable and accessible. This is not just another mental health app. We have built a platform for getting experience-based peer support where people can turn their most valuable and largely underutilized asset – their lived experience – into a superpower. Like Uber did for drivers with cars, Airbnb did for dwellings, and Taskrabbit did for handyman skill.”

For more information or to download the mobile app, visit https://www.myfello.app/. To keep up on all things Fello, follow the brand on Instagram, Facebook and LinkedIn.

About Fello:

Fello is an innovative peer support platform for the loneliness epidemic which connects anyone seeking connection and guidance to people who can help them because they have gone through the same exact struggle. Led by former Uber Eats executive Alyssa Pollack, who co-founded and co-led Uber Eats on its path from zero to $15B in revenue, Fello’s mission is to give everyone access to peer support – regardless of what they’re going through. Fellos are trained to pair the wisdom of lived experiences with the knowledge of active listening, by undergoing vetting and training processes developed with a team of leading clinicians led by Clinical Psychologist Dr. Thekla Ross and Fello’s Chief Medical Officer, Dr. Adam Glasofer. By sharing their stories and wisdom, Fellos can earn up to $56/hour. For Finders – or those seeking support – a 30-minute video check-in with a Fello is an affordable alternative to traditional therapy, costing just $40. The app launched this fall with coverage across four areas — relationships, parenting, drug use and alcohol use — and has plans to expand to additional topics in the coming months. For more information or to download the app, visit https://www.myfello.app/. To keep up on all things Fello, follow the brand on Instagram, Facebook and LinkedIn.

Contacts

Michelle Calarco
calarco_michelle@myfello.app

(c)2024 Business Wire, Inc., All rights reserved.


Venture Capital
Business Wire, Chicago, Fello, Illinois, Venture Capital

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Fabric, a leader in care delivery and consumer experience, has announced the acquisition of UCM Digital Health (UCM), a leading digital health and telehealth provider. The acquisition expands Fabric's services to about 400 new employer and payer customers, adding one million covered lives. Fabric now serves over 75 health systems, 30,000 employers, and over 100 million lives across all 50 states. This marks Fabric’s fifth acquisition in less than three years, underscoring its strategic build-and-buy approach to unify the fragmented digital health landscape. By expanding its footprint in the payer and employer markets, Fabric is extending its comprehensive care access and experience platform paired with its nationwide provider network to streamline virtual-first care, expand access, improve efficiency and outcomes, and reduce both medical and overhead costs.

In a statement Aniq Rahman, CEO and Founder of Fabric said, "For Fabric, it’s about making healthcare more accessible.” “We’ve already made meaningful progress in the payer and employer markets, and this acquisition allows us to deepen that impact. By bringing more payers and employers onto our platform, we’re creating a connected experience that streamlines workflows, reduces friction and costs, and ultimately drives better outcomes for members and our partners." Moving forward, the 400 payers and employers served by UCM will transition to Fabric’s expanded technology and clinical network, gaining access to enhanced omnichannel patient experiences that improve efficiency before, during, and after virtual care. Through Fabric’s nationwide provider network, patients can receive a treatment plan for most common medical conditions in just five minutes or connect with a behavioral health provider within three days.

Fabric is a health tech company on a mission to solve healthcare’s access problem. Fabric’s integrated care platform offers personalized guidance, streamlines workflows, and unifies experiences across virtual and in-person care. Its solutions support care delivery from a patient’s first search to post-treatment follow-up using its proprietary Hybrid AI that combines conversational AI and physician-built clinical logic. Together with a nationwide network of medical and behavioral health providers, Fabric is realizing its vision of providing care for everyone, everywhere. The company advances connected delivery that improves access, outcomes, and equity across every stage of the patient journey. Today, Fabric serves 30,000 employers, payers, and enterprise organizations, including OSF HealthCare, MUSC Health, Highmark, and Intermountain Health. Fabric is backed by General Catalyst, Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, BoxGroup, and Atento Capital.
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Flex has closed a $60 million Series B equity round led by Portage, bringing total equity raised to $105 million. In the last year, the company has quadrupled revenue and tripled its payments volume to $3 billion as it scales its all-in-one business and personal finance platform for high-net-worth middle-market business owners. Running a profitable middle-market business has become one of the most complex financial jobs in America, with owners often juggling more than ten disconnected systems to manage their money. Flex was created to give these high net worth owners a single place to run both their business and personal finances. This latest $60 Million equity round, followed by its $200 Million debt and $25 Million equity raise announced earlier this year, builds on a period of rapid hypergrowth. In just 12 months, Flex has grown revenue fourfold and increased annualized total payments volume from $1 billion to $3 billion across a suite of products, positioning Flex as one of the fastest-growing fintech companies at scale with best-in-class capital efficiency.

Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. These customers now use an average of four or more Flex products. Flex’s Business Credit Card, which provides 60-day float on every transaction, has been a major driver of adoption, acting as the wedge into deeper financial operations. Once owners experience the benefits of the Flex Credit Card, they often go on to adopt Flex’s banking, payments, working capital, and expense management tools to replace fragmented legacy systems. This integrated model has allowed Flex to scale with high efficiency and has created a strong foundation for its expansion into personal finance.

Launched in 2023, Flex a Flexbase Technologies brand is the AI Native “Private Bank” for high net worth business owners in the middle market. Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. Flex is the first platform that supports every step of their financial lives, from the moment they earn revenue to the moment they spend it personally.
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Across the United States, a new industrial age is taking shape. Trillions of dollars in infrastructure, from energy projects and advanced manufacturing to data centers and critical mineral facilities, must be built in the next decade. But large construction projects are slower and more expensive today than they were half a century ago. Unlimited Industries, a California-based company using AI to rethink how infrastructure gets built, has raised $12 million in seed funding to change that. The round was co-led by Andreessen Horowitz and CIV, with participation from leading industry investors. The capital will accelerate Unlimited’s expansion and further develop its proprietary AI platform – one designed to make large-scale engineering and construction faster, cheaper, and more ambitious.

Unlike traditional construction firms or standard software companies, Unlimited is an AI-native construction company that both designs and builds. Its proprietary platform can generate and evaluate hundreds of thousands of design configurations in parallel, automatically identifying optimal layouts for cost, safety, and performance before construction begins. By integrating AI-driven design with its own vertically integrated engineering and construction teams, Unlimited eliminates the costly handoffs and misaligned incentives that have defined the industry for decades.

In a statement Alex Modon, Co-Founder and CEO of Unlimited Industries said, “Advances in AI mean we can finally build the physical world the way we build software.” “The traditional construction model is slow, brittle, and fundamentally misaligned. Our approach replaces static design choices with a dynamic, data-driven process that learns from every project. The result is faster, cheaper, and more successful projects.”

Unlimited is an AI-native construction company headquartered in San Francisco. Today, the company designs and builds across energy infrastructure, data centers, critical minerals, and advanced manufacturing, helping developers build with greater speed, ambition, and efficiency. Their mission is to build a future of radical physical abundance by automating construction end-to-end. The company was founded in 2025 by serial founders Alex Modon, Jordan Stern, and Tara Viswanathan.
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