SAN FRANCISCO--(BUSINESS WIRE)--HealthRally, a social health company developing a new crowdfunding platform for personal health motivation, announced that it raised more than $400,000 in seed funding and assembled an expert board of strategic advisors.
The company is building a social health platform focused on inspiring the nearly 100 million Americans who spend over $50 billion annually trying to achieve wellness goals such as losing weight, quitting smoking, or improving one’s overall health and fitness.
The seed round was funded by Esther Dyson, a prominent angel investor in disruptive technologies; Isy Goldwasser, a successful biotech entrepreneur; Dick Sass, a medical device entrepreneur; Ty Danco, a prolific angel investor; and Jeff Thiel, a former Microsoft executive.
“Games and badges are great, but most people would probably rather have an iPad, a vacation, or cool new pair of shoes,” says Zack Lynch, CEO and co-founder of HealthRally. “HealthRally combines the power of social networks with the latest findings in behavioral science for healthy motivation and sustained support.”
HealthRally ties together advances in behavioral economics -- which shows that financial incentives triple one’s chance of reaching a health goal -- with cutting edge social networking science -- which proves that engaging close friends and family increases success rates. In practice, when friends and family contribute financially to one’s goals, peer support and success rates dramatically increase.
"It's the oldest trick in the book," says Esther Dyson. "Make a commitment to a group of friends, and you ‘have’ to deliver! HealthRally helps you assemble the friends and manage the process, and adds the psychological value of making the commitment and incentives explicit and formal."
HealthRally’s advisory panel includes researchers and entrepreneurs with deep experience in behavioral economics and social networking, including: Paul Zak, Director, Center for Neuroeconomic Studies, Claremont Graduate University; Tom Valente, Social Networks and Health expert, Keck School of Medicine, USC; Denise Thomas, former President, Healthiest You; and Ross Mayfield, Chairman and co-founder, Socialtext; among others.
The company is currently in private beta and will be launching a public beta in time to help people conquer their New Year’s resolutions. Individuals can request an invitation to participate at www.healthrally.com.
About HealthRally
HealthRally is a social health company that has developed a crowdfunding platform that uses social motivation and positive financial incentives to inspire people to achieve their health and wellness goals. HealthRally was co-founded by Zack Lynch and Peter Kaminski. Zack is the founder of the Neurotechnology Industry Organization and author of The Neuro Revolution: How Brain Science Is Changing Our World (St. Martin’s Press.) Peter has been technical co-founder at several companies including Socialtext and Yipes Communications.