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Digital dependancy therapy startup Boulder Care announced Friday it had received $36 million in Series B funding.

The spherical provided participation by Qiming Undertaking Partners, Goodwater Cash and Laerdal Million Life Fund as well as returning buyers Very first Round Cash, Greycroft, Tusk Undertaking Companions and Gaingels.

Boulder stated the Sequence B brings its whole raise to a lot more than $50 million. It scooped up $10.5 million in Sequence A financing in 2020. 

WHAT IT DOES

Boulder features virtual treatment method for opioid use condition and alcohol use problem, which include medication-assisted treatment like Suboxone. The startup’s clinicians can assistance patients with other professional medical difficulties, like prescribing birth regulate or antidepressants. Providers can also refer patients to outside treatment when vital and join appointments with other clinicians pretty much to coordinate care.

Furthermore, Boulder can join individuals with peer experts who have also expert dependancy recovery and enable them come across social services like employment help and housing help. 

WHAT It is FOR

The startup will use the resources to triple the sizing of its clinical team, develop into new marketplaces and take care of additional sufferers beneath value-dependent care arrangements. Boulder mentioned most people never pay back out-of-pocket for its solutions, and it generates revenue mainly by means of Medicaid managed treatment. 

“Linking arms with insurers has assisted Boulder make treatment affordable for small-cash flow People who are battling tough to get well. With trader guidance, we’ll deepen dozens of important health and fitness prepare and employer relationships all more than the state,” CEO Stephanie Powerful explained in a statement.

Current market SNAPSHOT

There are a selection of digital compound use problem startups on the market as the U.S. carries on to grapple with increasing drug overdose fatalities. The CDC estimates far more than 107,000 people died of drug overdoses previous year, and more than 80,000 fatalities associated opioids.

Earlier this week, Bicycle Health and fitness, which focuses on opioid use ailment treatment method, introduced a $50 million Sequence B. In the meantime Ophelia also lifted $50 million late very last 12 months. 

Virtual habit care startup Workit Health declared a $118 million Series C round in October last 12 months, although Quit Genius, which involves support for tobacco, liquor and opioid addictions, raised $64 million previous summertime.

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