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 Non-public Fairness and former investor SOSV.
WHAT IT DOES
Ria supplies digital look after alcohol use dysfunction, together with medication-assisted therapy like naltrexone, acamprosate and gabapentin that might cut back cravings.
Sufferers additionally obtain restoration teaching that may assist them set targets, develop coping mechanisms, assess their progress and refer them to native remedy and assist teams if essential. They will additionally entry Ria’s app, the place they’ll conduct digital classes, handle their prescriptions and hold monitor of outcomes from a linked breathalyzer.
The startup stated it plans to make use of the capital to develop its care-delivery capabilities.
“As ingesting rose dramatically through the pandemic, Ria Well being’s gifted founders and administration staff led the way in which with progressive therapy of alcohol use dysfunction by combining pharmacological and behavioral assist,” Michael Balmuth, managing companion at SV, stated 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 rework the substance use therapy business.”
In line with the 2019 Nationwide Survey on Drug Use and Well being, practically 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 up to now 12 months acquired any therapy. Round 95,000 individuals die of alcohol-related causes yearly.
There are a selection of digital well being startups centered 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 Sequence B funding.
In April, Eleanor Well being scooped up $50 million in Sequence C funding, lower than a 12 months after its $20 million Sequence B. Workit Well being and Stop Genius additionally accomplished funding rounds final 12 months.
Pear Therapeutics, which already presents prescription digital therapeutics for substance and opioid use issues, acquired FDA Breakthrough Machine Designation in November for a product aimed toward alcohol use dysfunction.