Digital alcohol use dysfunction remedy firm Ria Well being accomplished an $18 million Collection A funding spherical led by SV Well being Traders.
Different individuals within the spherical embody 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 remedy 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 mandatory. They will additionally entry Ria’s app, the place they will conduct digital classes, handle their prescriptions and preserve monitor of outcomes from a related breathalyzer.
The startup stated it plans to make use of the capital to increase its care-delivery capabilities.
“As drinking rose dramatically in the course of the pandemic, Ria Well being’s gifted founders and administration crew led the best way with progressive remedy of alcohol use dysfunction by combining pharmacological and behavioral assist,” Michael Balmuth, managing associate at SV, stated in a press release. As a part of the funding he has joined the startup’s board.
“Ria Well being’s medical method and high-quality outcomes will proceed to rework the substance use remedy business.”
MARKET SNAPSHOT
In keeping with the 2019 National Survey on Drug Use and Health, almost 15 million folks 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 remedy. Round 95,000 folks die of alcohol-related causes yearly.
There are a variety 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 Series B funding.
In April, Eleanor Well being scooped up $50 million in Series C funding, lower than a 12 months after its $20 million Collection B. Workit Health and Quit Genius additionally accomplished funding rounds final 12 months.
Pear Therapeutics, which already provides prescription digital therapeutics for substance and opioid use issues, received FDA Breakthrough Device Designation in November for a product geared toward alcohol use dysfunction.
