Virtual alcohol use disorder treatment company Ria Health has completed an $18 million Series A funding round led by SV Health Investors.
Other participants in the round include SV limited partners, BPEA Private Equity and former investor SOSV.
WHAT IT DOES
Ria offers virtual care for alcohol use disorders, including supportive treatment with medications such as naltrexone, acamprosate, and gabapentin that can reduce cravings.
Patients also receive rehabilitation training that can help them set goals, develop coping mechanisms, assess their progress, and refer them to local therapy and support groups if needed. They can also access Ria’s app, where they can conduct virtual sessions, manage their prescriptions, and track results from a connected ventilator.
The startup says it plans to use the capital to expand its caregiving capabilities.
“Like drink rose water Michael Balmuth, managing partner at SV, said in a statement, Ria Health’s founders and talented management team have spearheaded the innovative treatment of alcohol use disorder by combining behavioral support and pharmacology”. Join the startup’s board.
“Ria Health’s clinical approach and high-quality outcomes will continue to transform the substance use treatment industry.”
SNAPSHOT . MARKET
Follow National Survey on Drug Use and Health 2019, nearly 15 million people 12 years of age and older in the US have an alcohol use disorder, but less than 10% of those with it in the past year received treatment. About 95,000 people die from alcohol-related causes every year.
There are a number of digital health startups that focus on substance use disorders, like death from a drug overdose also climbed amid the COVID-19 pandemic. Earlier this month, Boulder Care, which focuses on opioid and alcohol use, announced that it has received $36 million in Series B funding.
In April, Eleanor Health spoke out $50 million in Series C . fundingless than a year after the $20 million Series B. Health at work and Escape from genius also completed funding rounds last year.
Pear Therapeutics, which offers prescription digital therapies for opioid and substance use disorders, received FDA Breakthrough Device Designation in November for a product targeting alcohol use disorders.
