Health

Digital substance use remedy firm Boulder Care raises $36M



Digital dependancy remedy startup Boulder Care introduced Friday it had acquired $36 million in Collection B funding.

The spherical included participation by Qiming Enterprise Companions, Goodwater Capital and Laerdal Million Lives Fund in addition to returning buyers First Spherical Capital, Greycroft, Tusk Enterprise Companions and Gaingels.

Boulder mentioned the Collection B brings its complete elevate to greater than $50 million. It scooped up $10.5 million in Collection A financing in 2020. 

WHAT IT DOES

Boulder provides digital remedy for opioid use dysfunction and alcohol use dysfunction, together with medication-assisted remedy like Suboxone. The startup’s clinicians might help sufferers with different medical points, like prescribing contraception or antidepressants. Suppliers may refer sufferers to outdoors care when needed and be part of appointments with different clinicians nearly to coordinate care.

Moreover, Boulder can join sufferers with peer specialists who’ve additionally skilled dependancy restoration and assist them discover social providers like employment help and housing assist. 

WHAT IT’S FOR

The startup will use the funds to triple the scale of its medical group, increase into new markets and deal with extra sufferers underneath value-based care preparations. Boulder mentioned most sufferers do not pay out-of-pocket for its providers, and it generates income largely by way of Medicaid managed care. 

“Linking arms with insurers has helped Boulder make care inexpensive for low-income Individuals who’re combating exhausting to get better. With investor assist, we’ll deepen dozens of priceless well being plan and employer relationships everywhere in the nation,” CEO Stephanie Robust mentioned in a press release.

MARKET SNAPSHOT

There are a variety of digital substance use dysfunction startups available on the market because the U.S. continues to grapple with rising drug overdose deaths. The CDC estimates greater than 107,000 folks died of drug overdoses final yr, and greater than 80,000 deaths concerned opioids.

Earlier this week, Bicycle Well being, which focuses on opioid use dysfunction remedy, introduced a $50 million Collection B. In the meantime Ophelia additionally raised $50 million late final yr. 

Digital dependancy care startup Workit Well being introduced a $118 million Collection C spherical in October final yr, whereas Stop Genius, which incorporates assist for tobacco, alcohol and opioid addictions, raised $64 million final summer season.



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