SAN FRANCISCO–(BUSINESS WIRE)–Cutback Coach, a new program focused on helping the 70% of US adults who regularly drink build healthier habits around alcohol consumption, has raised $3.1 million in Seed funding. Funding was led by Stephanie Palmeri of Uncork Capital. Other investors in the round include Nico Wittenborn of Adjacent Venture Capital; James Park, Founder of Fitbit; Mike Lee, Founder of MyFitnessPal; Logan Green, Founder and CEO of Lyft; Nir Eyal, author of Hooked and Indistractable; and angel investor Kevin Carter, among others.
Cutback Coach was founded in early 2020 by Nick Allen and Ian Andersen, after realizing there were few resources for those looking to build healthier habits around drinking, without seeking complete sobriety. Both founders grew up in households that were profoundly affected by alcohol, leaving them with a deep understanding of the impact alcohol can have when left unmanaged. These experiences set them on a journey to build a new, mindful approach to alcohol health to better fit their lifestyles — and that of millions like them. With nearly one third of US adults over consuming alcohol at least once a month, the founders see an enormous opportunity to improve peoples’ lives.
“Alcohol plays a big role in our culture, but until now, the vast majority of solutions have focused on drinkers who are looking to quit entirely,” said Nick Allen, Co-Founder and CEO of Cutback Coach,“ We saw a gap in the market for alcohol health and set out to build a proactive approach to help the 47% of US adults who want to reduce their alcohol consumption1, but enjoy drinking and don’t feel the need to quit entirely. Cutback Coach is creating a new wellness category around proactive alcohol health by connecting the dots for people about the role that alcohol plays in overall health and wellness.”
Cutback Coach leverages proven behavioral psychology strategies to support users in balancing their drinking to achieve health benefits including better sleep, weight loss, increased productivity and more energy. The program’s novel approach is delivered entirely via 2-way text message, providing an easy yet effective method for daily participation. During the six month beta program, in which thousands tested the product, users achieved a 29% average reduction in their weekly alcohol consumption after 4 weeks with Cutback Coach.
“There is a massive, untapped opportunity to help millions of Americans build healthier, sustainable habits around their alcohol consumption. 3 out of 4 of us drank more in the past year as a result of the challenges we’ve collectively faced. An all-or-nothing approach doesn’t work for everyone, and Cutback Coach is uniquely positioned in this unprecedented time to change the conversation about alcohol and healthy habits,” said Stephanie Palmeri, a partner at Uncork Capital. “Nick and Ian bring a powerful combination of empathy, lived experience, and technical expertise to Cutback Coach, and I’m thrilled to join them on this journey.”
About Cutback Coach
Cutback Coach, founded by Nick Allen and Ian Andersen, is creating a new wellness category around proactive alcohol health. Focused on mindful drinking rather than an all-or-nothing approach, Cutback Coach’s behavioral psychology-backed system provides each member a personalized plan catered to their lifestyles, baseline habits and individual goals. The Cutback Coach experience is delivered via 2-way SMS, providing a unique low friction approach that makes participation with the program simple and user friendly. Cutback Coach members achieve tangible benefits to overall health and wellness including increased productivity, weight loss, reduced anxiety and better sleep. For more information or to get started, visit CutbackCoach.com
1 https://www.nielsen.com/us/en/insights/article/2019/many-americans-are-looking-for-a-bar-experience-without-the-buzz/
Contacts
Press:
Caroline Andoscia
Andoscia Communications
caroline@andoscia.com
212-475-2122
