SCHEDULE: USVP X Funds Disclose 8.2% Stake in Omada Health

U.S. Venture Partners X and its affiliates have reported an 8.2% beneficial ownership stake in Omada Health, Inc., signaling a significant passive investment.

Summary

• U.S. Venture Partners X, L.P. (USVP X), USVP X Affiliates, L.P., Presidio Management Group X, L.L.C. (PMG X), and Casey M. Tansey (collectively, the Reporting Persons) have filed a Schedule 13G.
• The filing reports beneficial ownership of Omada Health, Inc. common stock, par value $0.001 per share.
• PMG X, as the general partner of USVP X and USVP X Affiliates, beneficially owns an aggregate of 4,718,026 shares.
• Casey M. Tansey, a managing partner of PMG X, also beneficially owns 4,718,026 shares.
• This aggregate amount represents 8.2% of Omada Health, Inc.'s total outstanding common stock.
• The total outstanding shares of Omada Health, Inc. common stock were 57,574,921 as of August 5, 2025, as reported by the Issuer in its Quarterly Report on Form 10-Q.
• The Reporting Persons disclaim status as a 'group' for filing purposes and certify that the securities were not acquired for the purpose of changing or influencing control of the issuer.
• Dr. Jonathan Root, a member of Omada Health's board of directors, is also a managing member of PMG X.

Sentiment

Score: 7

Explanation: The disclosure of a significant passive stake by a reputable venture capital firm generally signals investor confidence in the company's long-term prospects and stability, contributing to a positive sentiment.

Positives

• A significant institutional investment from U.S. Venture Partners X and its affiliates, holding an 8.2% stake, indicates confidence from a notable venture capital firm in Omada Health's prospects.
• The filing is a Schedule 13G, signifying a passive investment intent, which suggests the investor is not seeking to disrupt management or operations.
• Dr. Jonathan Root, a managing member of the general partner (PMG X), is an existing member of Omada Health's board of directors, suggesting alignment and insight into the company's strategic direction.

Risks

• While the filing states a passive intent, a significant concentration of ownership by a single entity or related entities could theoretically influence future decisions if their investment intent were to change.
• Large beneficial ownership positions, while positive for confidence, also represent a potential source of future share supply if the investors decide to divest, which could impact stock price.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Omada Health, Inc.'s business operations or financial performance. It solely pertains to beneficial ownership disclosure.

Industry Context

Omada Health operates in the digital health and chronic disease management sector. Investment from venture capital firms like U.S. Venture Partners X is common in this growth-oriented industry, especially for companies focused on technology-driven healthcare solutions. This significant investment signals continued investor interest and confidence in the digital health space and Omada Health's position within it.

Comparison to Industry Standards

• An 8.2% stake by a venture capital firm is a substantial position, typical for early-stage or growth-stage companies where VCs often take significant equity positions to support development and expansion.
• The presence of a managing member of the general partner on the issuer's board of directors (Dr. Jonathan Root) is a common practice for venture capital firms with significant investments, providing oversight and strategic guidance.

Related Party Transactions

• Dr. Jonathan Root, a member of Omada Health's board of directors, is also a managing member of Presidio Management Group X, L.L.C., the general partner of the Reporting Persons, indicating a related party relationship in terms of governance and oversight.

Stakeholder Impact

• Shareholders: Increased transparency regarding significant institutional ownership and a potential positive signal for market confidence due to the backing of a notable venture capital firm.
• Management: Continued support from a key investor, potentially offering strategic guidance through board representation.

Key Dates

Recommendation

The filing indicates a significant, passive institutional stake by a reputable venture capital firm, which is generally a positive signal of long-term confidence in Omada Health. However, without additional financial or operational updates from the company, a stronger recommendation is not warranted based solely on this ownership disclosure. It suggests stability and continued investor interest, making a 'hold' recommendation appropriate for existing investors.

Keywords

Omada Health, USVP X, Venture Capital, Beneficial Ownership, SEC Filing, Schedule 13G, Institutional Investment, Digital Health, Healthcare Technology