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Antidote Well being confirmed it has laid off staffers this week, about seven months after the telehealth startup introduced its $22 million Series A round.
In keeping with reporting by Calcalist, the corporate has let go of a couple of third of its workforce, with most cuts coming from its analysis and growth staff. Antidote gives digital main care, psychological healthcare and hypertension administration in addition to on-line prescriptions and refills.
“Antidote introduced it has adjusted staffing ranges and different direct bills brought on by present challenges within the economic system and market circumstances,” an Antidote spokesperson wrote in an e mail to MobiHealthNews. “These adjustments will assist be certain that the corporate can obtain its long-term purpose of offering reasonably priced, high quality care to tens of millions of Individuals.”
THE LARGER TREND
Antidote launched in January 2021, saying a $12 million seed raise later that yr. At the moment, the startup stated it was headquartered in New York Metropolis with an R&D staff in Tel Aviv, Israel.
When Antidote introduced its Sequence A in March, the corporate deliberate to make use of the funding alongside its seed to broaden its providers within the U.S. and help analysis and growth for AI screening and medical choice help capabilities. Milwaukee Bucks participant Giannis Antetokounmpo has additionally invested within the startup this yr.
Telehealth use has declined from its peak in the course of the top of the COVID-19 pandemic, although it makes up a bigger portion of care than it did within the pre-pandemic period. Nonetheless, there are a variety of virtual care startups and extra established telehealth corporations competing available in the market.
There have additionally been a spate of layoffs affecting digital well being and well being tech corporations thus far this yr.
In keeping with reporting by the Wall Avenue Journal, digital psychological well being firm Cerebral is cutting about 20% of its staff because it restructures its enterprise. Digital weight reduction firm Noom additionally recently confirmed another round of layoffs.
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