Boulder Care, a digital supplier for substance abuse problems, has raised $35 million in Sequence C funding, the corporate introduced Wednesday.

Portland, Oregon-based Boulder Care works with payers – primarily Medicaid – in value-based contracts and treats folks with opioid use problems and alcohol use problems. The app gives entry to a staff of healthcare suppliers and peer restoration teaching. Boulder Care's dependancy specialists also can prescribe buprenorphine, a medicine that treats opioid use dysfunction. In January, the corporate introduced it was increasing its companies to adolescents.

The Sequence C funding spherical was led by Advance Enterprise Companions and included participation from Stripes, First Spherical Capital, Qiming Enterprise Companions and Laerdal Million Lives Fund. In complete, Boulder Care has raised roughly $85 million.

Advance Enterprise Companions selected to put money into Boulder Care as a result of it “stood out because the clear chief on this class throughout high quality, outcomes and affected person expertise,” mentioned David ibnAle, managing companion of the agency, in an announcement.

With the funding, the corporate plans to increase its staff, particularly in patient-facing roles, mentioned Boulder CEO Stephanie Sturdy. This contains nurses, physicians, fellow restoration specialists, and case managers. Boulder Care may also deepen its presence in states the place it already operates (together with Oregon, Washington and Ohio) and increase into new states. It plans to enter two new states within the coming 12 months, however Sturdy declined to say which states they’re. When increasing into new states, it should search for states which have expanded Medicaid and have massive rural populations “the place we will have a direct affect on many thousands and thousands of people that don't have entry to companies,” Sturdy mentioned in an interview.

She added that she has seen an elevated willingness from traders to put money into startups specializing in Medicaid.

“Once we raised our seed spherical, it was undoubtedly not a gorgeous space for many traders,” Sturdy mentioned. “We have been lucky to obtain robust buy-in from a few of our early traders, like First Spherical, however lately traders have change into significantly better knowledgeable and excited in regards to the tendencies we've seen in managed Medicaid.”

The funding comes as an estimated 50 million People battle with a substance use dysfunction, and lots of lack entry to therapy, in line with the Substance Abuse and Psychological Well being Companies Administration.

Digital dependancy therapy suppliers like Boulder Care, Bicycle Well being and Ophelia have tried to satisfy the necessity. Nevertheless, many digital well being corporations have discovered themselves in limbo recently because the DEA has but to announce what it should do about digital prescribing of managed substances (together with buprenorphine). Covid-19 telehealth flexibility has allowed physicians to prescribe managed substances with nearly no in-person examination, and this flexibility has been prolonged by way of December of this 12 months. Sturdy has been an advocate for persevering with digital prescribing of buprenorphine.

Wanting forward, Boulder Care finally goals to “assist a few of the sickest and most underserved sufferers recuperate from substance use problems, and construct on our service providing to make it extra sturdy and tailor-made to those sufferers,” Sturdy mentioned.

Photograph: Feodora Chiosea, Getty Pictures