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Collection B led by F-Prime Capital with Eight Roads Ventures, Kaiser Permanente Ventures joined by present traders. Proceeds will speed up the corporate’s mission to offer accessible and efficient OCD remedy and introduce “Neighborhood-Pushed Remedy”
CHICAGO, September 21, 2021–(BUSINESS WIRE)–NOCD, the world’s main supplier of obsessive compulsive-disorder (OCD) remedy, right now introduced the closing of a $33 million Collection B funding spherical to proceed its efforts to deal with the worldwide OCD disaster, establishing a brand new behavioral well being market class known as “Neighborhood-Pushed Remedy”. The funds might be used to develop NOCD’s group, attain folks earlier of their remedy journey, and supply further companies to help with their long-term well being.
The funding was led by F-Prime Capital, with Eight Roads Ventures, and Kaiser Permanente Ventures collaborating together with present traders together with 7wireVentures, Well being Enterprise Companions (HEP), and Chicago Ventures.
“The behavioral well being remedy system wants a brand new digital entrance door that meets the wants of shoppers with extreme circumstances on their phrases, the place they’re. Telehealth is a crucial answer for folks that don’t really feel snug in search of remedy for stigmatized points exterior of their residence. NOCD provides a frictionless, efficient remedy expertise that addresses their unmet wants and helps them regain hope in life,” said Stephen Smith, Chief Executive Officer and founder of NOCD. “NOCD, for the primary time, provides an accessible and efficient answer for one of the prevalent and stigmatized behavioral well being populations – folks with OCD. Our distinctive strategy has additionally enabled us to determine a brand new class within the behavioral well being discipline known as Neighborhood-Pushed Remedy. We sit up for working with our traders who participated on this financing to speed up our mission to enhance the lives of individuals with OCD and help our important development.”
Neighborhood-Pushed Remedy leverages condition-specific peer communities to establish shoppers in want of assist, encourage them to start remedy, and serve them in a extremely personalised manner. Within the case of NOCD, many individuals are motivated to start out remedy after listening to from others within the NOCD group who’ve overcome comparable, troublesome challenges. Moreover, the compelling group information drives NOCD’s scientific management group to ship evidence-based remedy companies to group members in extremely personalised methods. Knowledge present that the Neighborhood-Pushed Remedy market is poised to efficiently handle many extreme and expensive wants inside behavioral well being, beginning with OCD.
With over 18 consecutive months of speedy development and demonstrated, measurable, and sustainable improved outcomes, NOCD has solidified its place as the worldwide chief in OCD remedy and in Neighborhood-Pushed Remedy. The corporate has not solely constructed the world’s largest OCD affected person on-line group – bringing to mild a large, underserved behavioral well being inhabitants – it has additionally scaled a extensively used on-line remedy service for its group. Contained in the NOCD platform, members can obtain ongoing, face-to-face telehealth classes from licensed NOCD therapists that particularly concentrate on OCD remedy. Moreover, members have entry to always-on help when their therapist is unavailable, together with personalised peer teams and self-help instruments. NOCD’s use of subtle expertise permits it to ship a excessive contact personalised remedy, which seems to be an ideal match for a power but manageable situation like OCD. NOCD’s complete remedy mannequin has confirmed to be a more practical, inexpensive and handy remedy than the present normal of care.
The corporate is now delivering greater than 12,000 stay telehealth visits per thirty days by the one nationwide community of publicity and response prevention (ERP) specialty-trained suppliers, with outcomes exhibiting 40% enchancment in a affected person’s well being inside as few as 90 days. To make ERP, a as soon as traditionally unaffordable remedy, extra accessible, NOCD has partnered with the nation’s main medical health insurance corporations, providing greater than a 3rd of Individuals entry to NOCD remedy as a lined profit.
“F-Prime is worked up to associate with the world-class group at NOCD as they proceed to expertise important development and construct upon their ongoing popularity of scientific success,” stated Jon Lim, associate at F-Prime Capital. “We imagine NOCD has developed a extremely differentiated and confirmed answer that’s remodeling the remedy panorama for communities and sufferers affected by OCD.”
The chance to rework lives of individuals with OCD can be why Kaiser Permanente Ventures partnered with NOCD.
“NOCD’s distinctive and scalable strategy meets people affected by OCD the place they categorical their misery and provides them a web-based group the place they’ll anonymously share their experiences with one another, get identified, and obtain holistic digital care from specialised therapists,” stated Daniel van den Bergh, Director at Kaiser Permanente Ventures. “We’re excited to help NOCD because the platform scales to deal with the wants of hundreds of thousands affected by OCD.”
Whereas NOCD has constructed a salient presence within the US market, in latest months the platform can be experiencing rising traction from worldwide markets. Eight Roads Ventures, with its international platform throughout Europe, India, China and Japan, and over 50 years of funding expertise in healthcare and expertise, will assist NOCD to additional help worldwide prospects.
NOCD is dedicated to making sure that even among the most complicated OCD group members can obtain wonderful care to match their scientific wants. To perform this, the corporate is broadening its intensive scientific coaching applications to deal with circumstances corresponding to Hoarding Dysfunction and Physique-focused Repetitive Behaviors (BFRBs) in addition to different anxiousness and temper problems that usually are comorbid to OCD. Additional, NOCD is launching digital partial hospitalization (PHP), intensive outpatient (IOP), and psychiatric remedy companies, to reinforce the corporate’s capacity to supply its most extreme group members further assist if wanted.
Collectively, these choices will place the corporate to guide the Neighborhood-Pushed Remedy class long-term.
About NOCD
NOCD (https://www.nocd.com) is the #1 telehealth supplier for the remedy of obsessive- compulsive dysfunction (OCD) and the main Neighborhood-Pushed Remedy firm. The corporate helps folks reclaim their lives with clinically confirmed OCD remedy by eradicating boundaries to care, and by lowering the stigma related to OCD. Contained in the NOCD platform, members can shortly entry a nationwide community of licensed therapists specializing in Publicity and Response Prevention (ERP), the “gold normal” for OCD remedy. Working along with our therapists, sufferers, well being plans, suppliers, and employers, we’re enhancing the lives of individuals with OCD. Please visit our website for extra details about NOCD.
About F-Prime Capital
F-Prime Capital is a world enterprise capital agency investing in healthcare and expertise. For the previous 50 years, our impartial enterprise capital group has had the privilege of backing nice entrepreneurs constructing groundbreaking corporations.
With over $2 billion {dollars} underneath administration and a world portfolio of greater than 200 corporations, we champion these devoted to creating optimistic change on the earth. In healthcare, we deal with therapeutics, medtech and well being IT & companies in a stage-agnostic style. Our healthcare fund has created or co-created 23 corporations together with Denali, Beam, Innovent, Orchard and Sana and has helped construct many others together with Blueprint Medicines, Iora Well being, PatientPing, Devoted and Ultragenyx. F-Prime portfolio corporations have seen greater than 28 merchandise and medicines permitted by regulatory companies worldwide. Our group of traders, engineers, medical doctors and scientists is dedicated to bringing the perception, area experience and relationships required to assist our corporations make a transformational affect. F-Prime is headquartered in Cambridge, MA, with places of work in London, UK and San Francisco, CA.
About Eight Roads Ventures:
Eight Roads Ventures is a world funding agency backed by Constancy. Eight Roads Ventures manages $8bn of property throughout its places of work in China, Hong Kong, India, Japan and UK. Our 50- yr historical past of investing consists of partnerships with over 300 corporations corresponding to Alibaba, AppsFlyer, BlackDuck, Chewy, Delta Well being, Flywire, Icertis, iPipeline, Kensho, Laurus Labs, Letgo, Made.com, Neo4j, Nuance, Paidy, Ping Identification, Pony.ai, PharmEasy, Proximie, Shadowfax, Wallapop, WuXi PharmaTech, and Xoom.
Additional data: https://eightroads.com
About Kaiser Permanente Ventures
Kaiser Permanente Ventures, a enterprise capital arm of Kaiser Permanente, is devoted to partnering with entrepreneurs to advance scientific high quality, service, and affordability. The agency invests within the well being care sector primarily in america with a deal with well being data expertise, digital well being, well being care companies, medical gadgets, diagnostics, and precision medication. It has over 20 years of enterprise capital investing expertise, with greater than $500 million underneath administration.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20210921005817/en/
Contacts
NOCD Media Contacts:
Stephen Smith For NOCD
stephen@nocdhelp.com
Robert Capobianco For NOCD
bizdev@nocdhelp.com
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