Virtual addiction provider PursueCare raises $11 million in Series A2 round
By Liese Klein
Middletown-based PursueCare, a provider of telehealth addiction treatment, announced it had raised a total of $11 million in a Series A2 funding round.
PursueCare said it would use the funding to enhance its technology and expand its programs with clients including health systems, hospitals, community health centers, employers and universities.
“With this latest investment, we are now positioned to expand our low-barrier services to more patients, whether they are in need of transition from settings that don’t traditionally present solutions for long-term recovery, or just need a way to privately access care at home on their own time,” said PursueCare CEO and co-founder Nick Mercadante.
Founded in 2019, PursueCare provides medication-assisted treatment programs for opioid and other substance use disorders through a smartphone app, along with home delivery of treatment medications. The company said demand for its services has increased substantially during the COVID-19 pandemic.
The company’s services are currently available in New England, Kentucky, Ohio and West Virginia with plans to expand nationwide.
The funding round was led by OCA Ventures, Seyen Capital, Wasabi Investors and a syndicate of experienced healthcare investors after an oversubscribed $7 million Series A2.