Virtual substance use treatment company Boulder Care raises $36M

Virtual habit therapy startup Boulder Care announced Friday it had obtained $36 million in Collection B funding.

The spherical provided participation by Qiming Venture Associates, Goodwater Funds and Laerdal Million Life Fund as effectively as returning buyers To start with Round Money, Greycroft, Tusk Undertaking Companions and Gaingels.

Boulder said the Collection B delivers its total elevate to far more than $50 million. It scooped up $10.5 million in Collection A funding in 2020. 

WHAT IT DOES

Boulder provides virtual treatment for opioid use condition and liquor use dysfunction, which includes medication-assisted treatment like Suboxone. The startup’s clinicians can assistance clients with other professional medical troubles, like prescribing start handle or antidepressants. Companies can also refer patients to outdoors treatment when needed and sign up for appointments with other clinicians pretty much to coordinate care.

Also, Boulder can connect clients with peer specialists who have also skilled habit recovery and assistance them locate social services like employment guidance and housing assistance. 

WHAT It really is FOR

The startup will use the resources to triple the sizing of its health care group, grow into new marketplaces and take care of more clients under value-primarily based care preparations. Boulder said most clients you should not shell out out-of-pocket for its providers, and it generates revenue mainly as a result of Medicaid managed treatment. 

“Linking arms with insurers has assisted Boulder make treatment very affordable for low-earnings Americans who are preventing difficult to get better. With trader support, we are going to deepen dozens of beneficial health program and employer interactions all around the nation,” CEO Stephanie Potent stated in a statement.

Market place SNAPSHOT

There are a quantity of virtual substance 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 final calendar year, and more than 80,000 fatalities associated opioids.

Earlier this 7 days, Bicycle Health and fitness, which focuses on opioid use problem procedure, announced a $50 million Series B. In the meantime Ophelia also raised $50 million late past yr. 

Digital habit treatment startup Workit Wellness declared a $118 million Collection C round in October past calendar year, even though Stop Genius, which features aid for tobacco, liquor and opioid addictions, raised $64 million last summer season.