Boulder Care, which provides telehealth treatment for substance use disorders, has raised a $35 million investment round, according to a document filed with the Securities & Exchange Commission.
The funding round is the latest sign of growth for the Portland-based company, which was founded by CEO Stephanie Strong in 2017. Boulder Care previously raised a $37 million Series B round in 2022 and $85 million since its inception.
The funding round was first reported by AxiosPro. Advance Venture Partners led the investment round, which also included Stripes, First Round Capital, Qiming Venture Partners and Laerdal Million Lives Fund.
Boulder providers write prescriptions for buprenorphine, an evidence-based treatment for opioid use disorder. The care model is based around a support team that includes peer recovery specialists and case managers. The company has inked contracts with Medicaid managed care providers, as well as private insurance plans, including Regence and Anthem, and employers such as Comcast and Hewlett-Packard. Most patients pay nothing out of pocket.
