Digital alcohol use dysfunction therapy firm Ria Well being accomplished an $18 million Collection A funding spherical led by SV Well being Buyers.
Different individuals within the spherical embrace SV restricted companions, BPEA Non-public Fairness and former investor SOSV.
WHAT IT DOES
Ria supplies digital look after alcohol use dysfunction, together with medication-assisted therapy like naltrexone, acamprosate and gabapentin that might cut back cravings.
Sufferers additionally obtain restoration teaching that may assist them set targets, develop coping mechanisms, assess their progress and refer them to native remedy and help teams if crucial. They’ll additionally entry Ria’s app, the place they’ll conduct digital classes, handle their prescriptions and maintain monitor of outcomes from a linked breathalyzer.
The startup stated it plans to make use of the capital to broaden its care-delivery capabilities.
“As consuming rose dramatically throughout the pandemic, Ria Well being’s proficient founders and administration staff led the best way with revolutionary therapy of alcohol use dysfunction by combining pharmacological and behavioral help,” Michael Balmuth, managing companion at SV, stated in an announcement. As a part of the funding he has joined the startup’s board.
“Ria Well being’s scientific method and high-quality outcomes will proceed to rework the substance use therapy business.”
In line with the 2019 Nationwide Survey on Drug Use and Well being, practically 15 million folks ages 12 and older within the U.S. have alcohol use dysfunction, however fewer than 10% of those that had the situation previously 12 months obtained any therapy. Round 95,000 folks die of alcohol-related causes yearly.
There are a selection of digital well being startups centered on substance use dysfunction, as drug overdose deaths additionally climbed within the midst of the COVID-19 pandemic. Earlier this month, Boulder Care, which focuses on opioid and alcohol use, introduced it had obtained $36 million in Collection B funding.
In April, Eleanor Well being scooped up $50 million in Collection C funding, lower than a 12 months after its $20 million Collection B. Workit Well being and Give up Genius additionally accomplished funding rounds final 12 months.
Pear Therapeutics, which already gives prescription digital therapeutics for substance and opioid use problems, obtained FDA Breakthrough Gadget Designation in November for a product aimed toward alcohol use dysfunction.