DynamiCare Health, a Boston, Massachusetts-based addiction recovery technology company, raised $4.1m in seed funding.
Backers included Hyperplane Venture Capital and a number of other investors, including mental health and addiction advocate, former U.S. Rep. Patrick J. Kennedy.
The company intends to use the funds for the rollout of its evidence-based platform to bring its behavioral intervention app directly to consumers later this spring and advance its telehealth recovery coaching service.
Founded in 2016 by Eric Gastfriend, Harvard MBA tech executive, and his father, David R. Gastfriend, MD, an international expert in addiction psychiatry, DynamiCare Health procides a digital platform that aims to reinforce a person’s recovery from addiction by offering random breath and saliva tests through their phone, treatment attendance check-ins verified by GPS, supportive telehealth recovery coaching, and rewards for healthy progress with deposits on a smart debit card that blocks cash withdrawals and spending at bars and liquor stores.
The company’s incentive-driven approach automates Contingency Management, an overlooked methodology for supporting addiction treatment that has been shown effective in over 100 randomized controlled trials.
The technology is already being used at seven addiction treatment programs across the country.
FinSMEs
02/04/2019