Revolutionizing Addiction Treatment: Boulder Care's $35M Funding Boost

May 24, 2024, 9:35 am
Boulder Care
Boulder Care
Location: United States, Oregon, Portland
Employees: 51-200
Founded date: 2017
Total raised: $120.5M
Boulder Care, a trailblazer in telehealth addiction treatment, secures a game-changing $35 million Series C funding round to expand its reach and impact. With a focus on underserved communities, Boulder Care's innovative approach is set to transform the landscape of addiction treatment in the USA.

Boulder Care, a pioneer in telehealth addiction treatment, has just closed a monumental $35 million Series C funding round led by Advance Venture Partners (AVP), signaling a new chapter in the fight against substance use disorders. This funding injection will fuel Boulder Care's mission to provide high-quality addiction treatment to those who need it most, particularly in underserved communities.

Since its inception in 2017, Boulder Care has been at the forefront of revolutionizing addiction treatment through its virtual platform. By offering specialized clinical care, peer support, and social services to patients nationwide, Boulder Care has already reached over 12,000 individuals and achieved industry-leading outcomes. This latest funding round will enable Boulder Care to further develop its services and tailor them to meet the specific needs of high-need patients.

One of Boulder Care's key focuses is on addressing the untreated addiction crisis that plagues millions of Americans. With an estimated 50 million individuals struggling with substance use disorders, the need for accessible and effective treatment has never been more urgent. Boulder Care's commitment to serving Medicaid populations and underserved communities is a testament to their dedication to reaching those who are often left behind.

By partnering with health plans and implementing value-based arrangements, Boulder Care has been able to link reimbursement directly to successful outcomes, resulting in a significant reduction in the Total Cost of Care for health plans. This innovative approach has not only improved patient outcomes but also holds immense potential for driving healthcare reform, particularly within the Medicaid system.

Boulder Care's success is not just anecdotal – it is backed by measurable data and patient satisfaction. With retention rates in buprenorphine treatment exceeding national benchmarks, measurable reductions in adverse outcomes, and a staggering 97% of patients reporting progress in their recovery, Boulder Care is setting a new standard for addiction treatment in the USA.

The virtual addiction treatment market is rapidly evolving, with a growing number of companies like Boulder Care leading the charge in providing evidence-based, high-touch care to those in need. As the Biden administration continues to support policies that promote access to opioid addiction treatment via telehealth, the future looks bright for innovative companies like Boulder Care.

With a focus on expanding into new states and reaching even more individuals in need, Boulder Care's $35 million funding boost is a testament to the impact they have already made and the potential for even greater change on the horizon. As they continue to stack the rocks of addiction and peer support, Boulder Care is paving the way for a brighter, healthier future for all.