Boulder Care, a Portland, OR-based provider of a medical treatment and long-term support for people overcoming substance use disorders, raised $36M in Series B funding.
The round was led by Qiming Venture Partners (US), Goodwater Capital, Laerdal Million Lives Fund, First Round Capital, Greycroft, Tusk Venture Partners and Gaingels.
The company intends to use the funds to triple the size of its medical group, expand into multiple markets, and treat more patients under payer contracts.
Led by CEO Stephanie Strong, Boulder Care offers telehealth addiction treatment which helps achieve health outcomes, patient satisfaction, and long-term retention in care — while reducing costs through innovative value-based payment arrangements. Patients access a dedicated Care Team 24/7, including Clinicians for expert medical care and medication management. In addition to medical management, the company’s Certified Peer Recovery Specialists and Case Managers provide comprehensive support for complex legal, financial, and housing needs. Boulder primarily engages patients through local provider networks, hospitals, community-based organizations, and insurers and generates revenue from in-network reimbursement, predominantly by Managed Medicaid.
Since its last financing, Boulder has served several thousand patients with opioid and alcohol use disorders, grown revenue by more than 10X, and launched with >20 enterprise customers – like Regence and Anthem – and employers like Comcast and Hewlett-Packard through ComPsych EAP.
FinSMEs
13/06/2022