Omada Health lays off 10% of workforce shortly after raising $50M

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Omada Health, a digital health company in San Francisco, laid off roughly 20 of its 250 employees just after raising $50 million in its most recent round of funding, reports CNBC.

Omada said the recent funds — which the company hopes to use to become "sustainable and profitable" — shed light on new goals, the company wrote in a statement to CNBC.

"It became clear we had to focus on Omada's core business and expertise, while orienting the company for long-term success," according to the statement. "Today we took the difficult but necessary steps that will allow Omada to continue its maturation as a leader in the digital health industry."

Omada, which has raised more that $120 million to date, sells its behavioral medicine and diabetes prevention program to self-insured employers and payers.

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