Omada Health has raised more than $120 million, eliminates 20 American jobs to boost profits

Omada Health, which has raised more than $120 million, lays off 20 people in bid for profits

Omada Health, one of the most highly funded digital health companies in Silicon Valley, has laid off about 20 people in departments across the organization.

Omada has developed a diabetes prevention program that is geared to roughly 1 in 3 Americans at high risk for the disease. What makes it a tech company is that it leverages things like health tracking and online coaching to help its users avoid chronic illnesses.

It has grown to about 250 people since its launch in 2011, so the layoffs hit just shy of 10 percent of the workforce.

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