Digital consuming dysfunction remedy firm Equip introduced a $58 million Collection B funding spherical led by the Chernin Group (TCG). Tiger International, Basic Catalyst, F-Prime Capital, Optum Ventures, .406 Ventures and Katie Couric Media additionally participated within the spherical.
This information comes roughly a yr after the San Diego-based firm closed its $13 million Collection A spherical. Thus far the startup has raised $75 million in funding.
As a part of at the moment’s announcement, Jesse Jacobs of the Chernin Group and Mary Ann Tocio, the previous president of Brilliant Horizons, joined the board.
WHAT IT DOES
Targeted on treating consuming problems, Equip units sufferers up with a digital five-person care group. This group features a therapist, doctor, peer mentor, household mentor and dietitian. The corporate makes use of digital family-based remedy (FBT) to assist youngsters, adolescents and younger adults with their consuming problems.
The product has rolled out in 40 states and works with 10 main industrial medical insurance corporations, in addition to with Medicaid. Equip pitches its product as a method to supply remedy within the dwelling, with relations included into the care mannequin.
WHAT IT’S FOR
The corporate plans to make use of the infusion of money to broaden into all 50 states and broaden its insurance coverage protection. Additionally it is engaged on a brand new product providing anticipated to launch later this yr.
Consuming problems are frequent in america. In reality, roughly 9% of the U.S. inhabitants, or 28.8 million individuals within the nation, may have an consuming dysfunction of their lifetime, based on the Nationwide Affiliation of Anorexia Nervosa and Related Problems.
The affiliation notes that individuals of coloration are much less more likely to be requested about consuming dysfunction signs by their physician, nonetheless they’re 50% extra doubtless than white teenagers to exhibit bulimic behaviors.
There are a variety of corporations trying to make use of know-how to assist deal with consuming dysfunction. Restoration Document is one other firm trying to make use of digital means to assist individuals residing with consuming problems.
The corporate makes use of CBT, ACT and DBT. Moreover, a small examine out of Australia discovered that offering consuming dysfunction remedy by way of a digital mannequin resulted in constructive outcomes and high-quality evaluations from sufferers.