News: @Levels raised $12M in funding led by @a16z for its glucose monitoring system.

- 1,000 ppl completed the beta
- 50K ppl are on the waitlist
- revenue is growing >40% MoM

Preparing for full-scale launch in early '21, here's a breakdown of their market, model & approach 👇
1/ Coining Metabolic Fitness

While activity tracking & sleep monitoring wearables like Apple Watch & WHOOP have caught on, there’s no mainstream method for quantifying the effects of diet.

Popularizing the concept of metabolic fitness, Levels aims to quantify dietary choices.
2/ Copying @elonmusk

To start, Levels isn’t targeting chronic diseases.

Instead, the company is taking a page out of Tesla’s playbook: offering a premium product first, then lowering the cost over time.

The focus centers on trends across personalized health & fitness.
3/ Scaling Up

Focusing on a premium—a one-month fee of $399 and $199/month thereafter—the company foresees a path to:

- profitability in 2021
- 1M units sold/year by the end of 2023
- potential for 10M units sold/year by the end of 2025
4/ Evangelizing High-Performers

It's common to see users posting screenshots of their Levels app on Twitter.

The company gets its core consumer, engages w/them on social, and is focused on content & podcasts to build authority.
5/ User >> Investor

Prominent users included @bulletproofexec @bengreenfield @realJoeDeSena @Austen

And they've secured nearly 90 angel investors, including @arrington @dickc @mbrandolph @LudlowVentures
6/ Superhuman Onboarding

Borrowing a strategy from successful streetwear brands software products like @Superhuman, the waitlist helped Levels build demand and scale effectively while honing in on product-market fit.

Since a CGM requires a prescription, onboarding is vital.
7/ Looking Ahead

Levels isn't without challenges.

- Abbott or Dexcom could box them out
- upstarts Veri, Lifetzr & Supersapiens are moving in
- Apple, Google & Amazon are targeting glucose monitoring

For now, first-mover advantage & a stellar team have them well positioned.
8/ Go Deeper

If you're interested in what @Levels is working on, subscribe to the @fittinsider newsletter.

This afternoon's issue will feature a behind-the-scenes breakdown of the Levels go-to-market, market, growth strategy, outlook, and more.

You can follow @JoeVennare.
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