Equip, a provider of virtual evidence-based eating disorder treatment to families at home, raised $13 million in Series A financing, bringing its total funds raised to date to $17 million.
The Series A round was led by Optum Ventures, with participation from new investor .406 Ventures and existing investor F-Prime Capital.
The company currently provides its services in California, New York, and Texas and intends to use the funding to expand its geographical reach. The company will also use the proceeds to continue building its clinical team and develop its technology platform.
To deliver the services virtually, a five-person dedicated care team is assigned, including a peer and family mentor, a medical physician (psychiatrist, PCP, or pediatrician), a therapist, and a dietician allowing families to arrange treatment to fit their schedules and needs.
The company states that currently, 80 percent of the 30 million Americans who struggle with eating disorders never receive treatment, and less than one percent have access to FBT.
Kristina Saffran, co-founder, and CEO of Equip, said: “Over the past 15 years, I’ve watched people cycle in and out of treatment centers before they’ve even heard of FBT. We believe this model, which combines lived experience and clinical expertise, provides the hope that recovery is possible and worth the hard work.”
“The virtual approach to high-quality eating disorder treatment being pioneered by Equip has the opportunity to better enable families to support recovery. We’ve never seen a team with this combination of lived experience and clinical expertise, and we believe Equip will be the much-needed change agent in eating disorder treatment”, said Laura Veroneau, partner at Optum Ventures.
In 2020, Telehealth companies raised $4.3 billion, a 139% increase YoY, compared to $1.8 billion in 2019, according to the latest Mercom Digital Health Funding & M&A report.