Tech
This startup wants to transform how alcohol addiction is treated. Check out the 24-slide pitch deck Ria Health used to raise $18 million.
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- San Francisco-based Ria Health has raised an $18 million Series A from SV Health Investors.
- The startup delivers a comprehensive alcohol addiction treatment through its digital platform.
- Check out the 24-slide deck used to raise the fresh funds.
A startup that provides treatment for alcohol use disorders has just raised $18 million in Series A funding.
Ria Health, which launched in 2016, offers users personalized care to tackle alcohol misuse through its app. The startup prescribes FDA-approved medicine which assists in controlling alcohol cravings, but this is also supplemented by its telehealth services.
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Members are given access to private coaching with certified counselors, including treatments such as cognitive behavioral therapy, as well as online support groups.
They’re also guided towards weekly and monthly goals with constant support from Ria Health’s medical team. Each member is provided with a bluetooth breathalyzer when they sign up, which records their blood alcohol content and logs it onto the app.
The “one-size-fits-all approach to multi-addiction treatment has yielded poor results,” said Tom Nix, CEO of Ria Health.
The startup tailors its coaching to each individual differently based on the recovery patterns that are best suited to their needs.
So far, Ria Health has found that within a year of starting treatment, 80% of its patients have a lower risk drinking level – as defined by the World Health Organization.
Excessive alcohol consumption hit an all-time high during the pandemic, but healthcare providers were stretched thin, with less means to provide in-person treatments. Since 2020, a slate of digital health startups have emerged globally in a bid to fill this gap and provide more accessible treatments remotely, by forming partnerships with health insurers.
Ria Health operates through individual memberships as well as commercial partnerships with insurance providers, such as Anthem, Blue Cross Blue Shield, Optum, and United Healthcare.
The round was led by SV Health Investors, a Boston-based VC firm with a specific focus on healthcare startups which has backed drug discovery startups such as Prilenia and TRexBio. Additional backing came from BPEA Private Equity, and existing investor SOSV.
With the fresh funds, the startup will grow its team across the US, and expand its delivery of treatments.
Check out the pitch deck used to raise the capital.
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