Virtual substance use treatment company Boulder Care raises $36M

Digital addiction therapy startup Boulder Treatment announced Friday it experienced gained $36 million in Sequence B funding.

The spherical provided participation by Qiming Enterprise Associates, Goodwater Funds and Laerdal Million Lives Fund as effectively as returning investors 1st Spherical Money, Greycroft, Tusk Enterprise Partners and Gaingels.

Boulder reported the Series B delivers its complete elevate to a lot more than $50 million. It scooped up $10.5 million in Sequence A funding in 2020. 

WHAT IT DOES

Boulder delivers virtual procedure for opioid use dysfunction and liquor use ailment, including treatment-assisted cure like Suboxone. The startup’s clinicians can assist sufferers with other healthcare issues, like prescribing delivery handle or antidepressants. Providers can also refer clients to outdoors care when required and join appointments with other clinicians virtually to coordinate care.

Furthermore, Boulder can hook up people with peer specialists who have also seasoned addiction recovery and help them come across social services like employment support and housing help. 

WHAT It truly is FOR

The startup will use the money to triple the sizing of its medical group, develop into new markets and take care of extra patients underneath worth-based treatment preparations. Boulder claimed most people you should not pay back out-of-pocket for its products and services, and it generates earnings mainly by way of Medicaid managed care. 

“Linking arms with insurers has served Boulder make treatment very affordable for reduced-earnings People who are battling tough to recuperate. With trader aid, we’ll deepen dozens of precious wellness prepare and employer associations all in excess of the state,” CEO Stephanie Robust claimed in a assertion.

Market place SNAPSHOT

There are a selection of virtual compound use problem startups on the market as the U.S. continues to grapple with increasing drug overdose deaths. The CDC estimates additional than 107,000 people died of drug overdoses previous 12 months, and a lot more than 80,000 fatalities concerned opioids.

Before this 7 days, Bicycle Health, which focuses on opioid use condition procedure, announced a $50 million Collection B. Meanwhile Ophelia also elevated $50 million late final yr. 

Digital dependancy care startup Workit Well being declared a $118 million Collection C spherical in Oct previous calendar year, although Quit Genius, which contains guidance for tobacco, alcoholic beverages and opioid addictions, elevated $64 million very last summer months.