Telehealth startup raises $18 million in series

  • San Francisco-based Ria Health has raised $18 million in Series A from SV Health Investors.
  • The startup offers comprehensive treatment for alcohol addiction through its digital platform.
  • Check out the 24 slide deck used to raise the new funds.

A startup providing treatment for alcohol use disorders has just raised $18 million in Series A funding.

Ria Health, launched in 2016, offers users personalized service to combat alcohol misuse through its app. The startup prescribes FDA-approved drugs that help control alcohol cravings, but this is also complemented by its


telehealth

Services.

Members have access to private coaching with certified counselors, including treatments such as cognitive behavioral therapy, as well as online support groups.

They are also guided towards weekly and monthly goals with constant support from the Ria Health medical team. Each member receives a


Bluetooth

breathalyzer when they sign up, which records their blood alcohol content and records it in the app.

The “one-size-fits-all approach to treating multiple addictions has produced poor results,” said Tom Nix, CEO of Ria Health.

The startup tailors its coaching to each individual differently, based on the recovery patterns best suited to their needs.

So far, Ria Health has found that within a year of starting treatment, 80% of its patients have a low-risk drinking level – as defined by the World Health Organization.

Excessive alcohol consumption reached an all-time high during the pandemic, but healthcare workers were overwhelmed, with fewer means to provide in-person treatments. Since 2020, a list of


digital health

startups have sprung up globally in an attempt to fill that gap and provide more affordable treatments remotely by forming partnerships with health insurers.

Ria Health operates through individual memberships as well as commercial partnerships with insurers such as Anthem, Blue Cross Blue Shield, Optum and United Healthcare.

The round was led by SV Health Investors, a Boston-based venture capital firm with a specific focus on healthcare startups that supported drug discovery startups like Prilenia and TRexBio. Additional support came from BPEA Private Equity and the existing SOSV investor.

With the new funds, the startup will increase its US team and expand its treatment delivery.

Check out the pitch deck used to raise capital.

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