Pelago Closes $58M to Scale Virtual Clinic for Substance Use Support | StartUp Health Insights: Week of Apr 2, 2023
Pelago was founded on the premise that substance use is a treatable chronic condition. The StartUp Health company is addressing the rising rates and costs of substance misuse head-on through its 100% fees-at-risk model that delivers improved outcomes and demonstrated ROI.
Funders, learn how you can support Health Transformers like the doctorpreneur team at Pelago.
Pelago, a StartUp Health company on a mission to make substance use support available to everyone, raised $58M in new funding on the strength of customer growth and validated ROI, bringing total funding to $151 million. The Series C was led by Atomico, with participation from Kinnevik AB, Octopus Ventures, Y Combinator, Eight Roads, and GreyMatter Capital. <source>
Other health innovation funding reported this week included:
Hume AI, a New York, NY-based startup and research lab building AI optimized for human wellbeing, raised $50M led by EQT Ventures, with participation from Union Square Ventures, Nat Friedman & Daniel Gross, Metaplanet, Northwell Holdings, Comcast Ventures, and LG Technology Ventures. <source>
ViaLase, an Aliso Viejo, CA-based clinical-stage medtech company focused on glaucoma treatment, raised $40M led by an undisclosed new investor, with participation from Venture Investors Health Fund, Arboretum Ventures, and Falcon Vision. <source>
Nourish, a New York, NY-based provider of a telenutrition platform that connects people to registered dietitians covered by insurance, raised $35M led by Index Ventures, with participation from Maverick Ventures, TCV, Y Combinator, Thrive Capital, BoxGroup, and angel investors. <source>
Brightside Health, a San Francisco, CA-based telemental health company, raised $33M led by S32, with participation from Kennedy Lewis, Time BioVentures, Anne Wojcicki (Redwood Pacific), ACME, Mousse Partners, and Triventures. <source>
InStride Health, a Boston, MA-based outpatient provider of specialty pediatric anxiety and OCD treatment, raised $30M led by General Catalyst, with participation from .406 Ventures, Valtruis, Mass General Brigham Ventures, and Hopelab Foundation. <source>
Intellihealth, a New Canaan, CT-based clinical telehealth platform focused on weight loss, raised $24M from the State of Connecticut and Hearst Corporation’s venture groups, Atlantic Health System, the Venture Collective, and Black Opal Ventures. <source>
EarliTec Diagnostics, a Decatur, GA-based medical device company, raised $21.5M led by Nexus NeuroTech Ventures and Venture Investors Health Fund. <source>
Praia Health, a Seattle, WA-based consumer platform for health systems that aims to innovate the delivery of individualized health solutions at scale, raised $20M led by Frist Cressey Ventures, with participation from SignalFire, Epsilon Health Investors, and Providence Ventures. <source>
Tonic App, a Porto, Portugal-based app that provides doctors with a mobile platform and AI-powered virtual assistant that aggregates all the resources they need to diagnose and treat patients, raised $11.7M (€10.85M) co-led by BlueCrow Capital and Iberis Capital, with participation from Vesalius Biocapital III, Armilar Venture Partners, Portugal Ventures, Shilling VC, and FSNB Health & Care. <source>
Float Health, a San Francisco, CA-based marketplace moving care that doesn’t need a hospital to the home, raised $10M led by Canvas Ventures, with participation from Wave Capital, Y Combinator, Burst Capital, Also Capital, and individual investors. <source>.
Surge, a Paris, France-based company that specializes in high-dimensional immune system analysis combined with AI, raised $8M (€7.5M) led by Eurazeo, with participation from Kima, Teampact, MH Innov’, Boutique Venture, HCVC, and 50 Partners Santé. <source>
Scriptology, a New York, NY-based comprehensive medication management platform, raised $4M through Redesign Health's committed pools of capital. <source>
Wellola, a Dublin, Ireland-based startup that provides the digital communication tools needed to deliver healthcare outside of a hospital setting, raised $2.3M (€2.2M) led by Elkstone, with participation from Enterprise Ireland and Bay Advisory. <source>
Century Health, a New York, NY-based startup applying AI to clinical data to uncover new applications for drugs, raised $2M led by 2048 Ventures, with participation from LifeX, Everywhere, Alumni Ventures, and a group of angel investors. <source>
Goodbill, a Seattle, WA-based startup that verifies that hospital bills are correct, raised $2M led by Founders’ Co-op, Maveron, and Liquid 2 Ventures, with participation from other funds and angels. <source>
Data is from StartUp Health Insights, the most comprehensive funding database for health innovation. Sign up for StartUp Health Insider™ to get funding insights, news, and special updates delivered to your inbox.
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