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Digital alcohol use dysfunction therapy firm Ria Well being accomplished an $18 million Sequence A funding spherical led by SV Well being Traders.
Different members within the spherical embrace SV restricted companions, BPEA Personal Fairness and former investor SOSV.
WHAT IT DOES
Ria gives digital look after alcohol use dysfunction, together with medication-assisted therapy like naltrexone, acamprosate and gabapentin that might scale back cravings.
Sufferers additionally obtain restoration teaching that may assist them set objectives, develop coping mechanisms, assess their progress and refer them to native remedy and help teams if needed. They will additionally entry Ria’s app, the place they’ll conduct digital periods, handle their prescriptions and preserve observe of outcomes from a linked breathalyzer.
The startup mentioned it plans to make use of the capital to develop its care-delivery capabilities.
“As drinking rose dramatically through the pandemic, Ria Well being’s proficient founders and administration staff led the way in which with revolutionary therapy of alcohol use dysfunction by combining pharmacological and behavioral help,” Michael Balmuth, managing companion at SV, mentioned in a press release. As a part of the funding he has joined the startup’s board.
“Ria Well being’s scientific strategy and high-quality outcomes will proceed to remodel the substance use therapy business.”
MARKET SNAPSHOT
In accordance with the 2019 National Survey on Drug Use and Health, almost 15 million individuals ages 12 and older within the U.S. have alcohol use dysfunction, however fewer than 10% of those that had the situation prior to now yr acquired any therapy. Round 95,000 individuals die of alcohol-related causes yearly.
There are a variety of digital well being startups targeted 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 acquired $36 million in Series B funding.
In April, Eleanor Well being scooped up $50 million in Series C funding, lower than a yr after its $20 million Sequence B. Workit Health and Quit Genius additionally accomplished funding rounds final yr.
Pear Therapeutics, which already provides prescription digital therapeutics for substance and opioid use problems, received FDA Breakthrough Device Designation in November for a product aimed toward alcohol use dysfunction.
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