Boulder Treatment, a virtual service provider of substance use remedy, lifted $36 million in Collection B funding, per TechCrunch.
Why it issues: Whilst the COVID pandemic has siphoned notice away from the opioid epidemic, overdose deaths have continued to increase. At the exact time, stigma and other road blocks have prevented many from accessing in-particular person treatment.
- Portland, Oregon-centered Boulder presents digital case management and peer coaching for opioid use condition and liquor use disorder and prescribes the opioid overdose reversal drug naloxone.
Flashback: Throughout the initial six months of 2021, far more men and women died of overdoses than for the duration of any continuous six-thirty day period interval in 2020, in accordance to the Commonwealth Fund.
Context: The funding arrives together with a spate of identical bulletins from digital addiction cure startups, these types of as:
- Boston-centered Bicycle Well being, a virtual opioid addiction remedy startup that before this 7 days raised $50 million in Collection B funding.
- Waltham, Mass.-centered Eleanor Wellness, a startup applying hurt reduction to addiction and other mental wellness concerns that in April lifted $50 million in Series C funding.
Specifics: The resources carry Boulder to about $50 million in whole funding.
- The U.S. division of Qiming Enterprise Partners, Goodwater Cash, Laerdal Million Lives Fund, and insiders Initial Spherical Capital, Greycroft, Tusk Enterprise Companions and Gaingels all participated in the spherical.
How it is effective: Boulder is protected as an in-network benefit by a number of insurers like Aetna and Optum.
- Rather than requiring people to abstain totally from medicines or alcoholic beverages — a rigid technique that is seen combined success — Boulder delivers case administration and medicines, which includes treatment-assisted remedy (MAT).
By the figures: Boulder grew its profits above 10 occasions due to the fact increasing its Sequence A in January 2020, according to TechCrunch, and since 2017 has noticed 100% yr-in excess of-12 months consumer renewals.
The base line: As the pandemic continues to ravage communities, so much too does the material use epidemic, and organizations like Boulder are focused on employing virtual resources in an exertion to enable.