Digital opioid dependancy remedy startup raises $5 million

Bicycle Well being, a Boston-based startup that gives digital remedy for opioid dependancy, raised $5 million in new enterprise capital funding.

Why it issues: Telehealth can cut back the stigma that precludes many individuals with dependancy from in search of care, along with its decrease prices and better comfort.

Particulars: Cobalt Ventures offered the funding, which is an extension to a Sequence B spherical that beforehand closed on $50 million.

  • The Sequence B spherical’s preliminary tranche, which Axios Professional scooped in June, was led by InterAlpen Companions. Different backers included Questa Capital, Frist Cressey Ventures and Metropolis Gentle Capital.

The underside line: There’s some skepticism that digital opioid dependancy remedy is as efficient (or protected) as in-person care, however there’s consensus that extra remedy choices are wanted as dependancy charges proceed to rampage.

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