SCHEDULE: Andreessen Horowitz Discloses 8.3% Stake in Omada Health

Andreessen Horowitz and its affiliated entities have disclosed beneficial ownership of 8.3% of Omada Health, Inc.'s common stock as of June 30, 2025.

Summary

• Andreessen Horowitz Fund IV, L.P. (AH IV) and AH Parallel Fund IV, L.P. (AH Parallel IV), along with their general partners AH Equity Partners IV, L.L.C. and AH Equity Partners IV (Parallel), L.L.C., have reported beneficial ownership in Omada Health, Inc.
• Marc L. Andreessen and Benjamin A. Horowitz, as managing members of the general partners, are deemed to have shared voting and dispositive power over the shares held by these funds.
• As of June 30, 2025, Marc L. Andreessen and Benjamin A. Horowitz each beneficially own 4,614,574 shares of Omada Health, Inc. common stock.
• This aggregate ownership represents 8.3% of Omada Health, Inc.'s common stock.
• AH IV directly holds 4,210,602 shares (7.6% of class), and AH Parallel IV directly holds 403,972 shares (0.7% of class).
• The percentage ownership is calculated based on 55,744,340 shares of common stock outstanding as of June 9, 2025.
• The reporting persons explicitly disclaim status as a "group" for the purposes of this Schedule 13G.

Sentiment

Score: 7

Explanation: The disclosure of a significant stake by a reputable institutional investor like Andreessen Horowitz is generally a positive signal, indicating confidence in the company. However, it's a passive ownership filing, not a performance report, so the sentiment is moderately positive rather than strongly so.

Positives

• Significant institutional investment from a prominent venture capital firm, Andreessen Horowitz, indicates confidence in Omada Health, Inc.
• The substantial stake of 8.3% suggests a strong belief in the company's long-term prospects.

Negatives

• No specific negative financial or operational details are disclosed in this ownership filing.

Risks

• The filing is an ownership disclosure and does not detail specific risks related to Omada Health, Inc.'s operations or financial performance.

Future Outlook

The filing is an ownership disclosure and does not contain forward-looking statements or guidance regarding Omada Health, Inc.'s future performance or strategic direction.

Management Comments

• The filing does not contain direct quotes or paraphrased statements from Omada Health, Inc. management. It includes statements from the reporting persons disclaiming group status.

Industry Context

This filing indicates continued investment by prominent venture capital firms like Andreessen Horowitz in the healthcare technology and digital health sectors. Such investments reflect a broader industry trend of increasing capital allocation towards innovative solutions aimed at improving health outcomes and efficiency, particularly in areas like chronic disease management where Omada Health operates.

Comparison to Industry Standards

• The filing is an ownership disclosure and does not provide financial or operational results for comparison to industry standards. However, the investment by Andreessen Horowitz, a leading venture capital firm known for its investments in high-growth technology companies, suggests that Omada Health, Inc. is perceived as a significant player within the digital health space, aligning with the trend of substantial VC backing for promising health tech ventures.

Management Changes

Corporate Governance

Legal Proceedings

• The filing does not mention any legal proceedings or regulatory matters.

Related Party Transactions

• The filing does not disclose any related party transactions beyond the ownership structure within the Andreessen Horowitz affiliated funds and their general partners.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Andreessen Horowitz may be viewed positively by existing and potential shareholders, potentially boosting investor confidence and market perception of Omada Health, Inc.
• Management: The investment by a prominent VC firm could provide strategic support and validation for Omada Health, Inc.'s management team and their strategic direction.

Next Steps

• The filing does not outline specific future actions, events, or milestones for Omada Health, Inc. or the reporting persons beyond the ongoing requirement to file SEC reports related to their ownership.

Key Dates

Recommendation

The filing indicates a significant and continued institutional investment by Andreessen Horowitz in Omada Health, Inc., which is a positive signal of confidence in the company's long-term prospects. However, as a Schedule 13G, it is purely an ownership disclosure and does not provide financial performance data, operational updates, or future guidance necessary to make a 'buy' or 'sell' recommendation. The existing stake suggests a 'hold' position for investors who believe in the long-term potential of Omada Health, Inc. given the backing of a reputable venture capital firm, but without further financial details, a stronger recommendation is not warranted.

Keywords

Omada Health, Andreessen Horowitz, AH Capital Management, Schedule 13G, Beneficial Ownership, Venture Capital, Healthcare Technology, Digital Health, SEC Filing