AnswersNow, a telehealth startup specializing in autism support, is ready to grow after closing on a capital raise last month.
The Richmond-based startup was developed in 2018 as an online platform that provides support for families with children who have autism. Last year, as Covid-19 left many founders uncertain of the future, co-founders Jeff Beck and Adam Dryfus modified the business from a tech-based support model to a robust telehealth solutions company, where clinicians can work directly with people regardless of their age or location.
As a result of the pandemic, insurers and regulators began covering AnswersNow's services. This, Beck said, was the catalyst for the company's $1.8 million seed funding round. The round, led by the American Family Insurance Institute for Corporate and Social Impact and Virginia’s Center for Innovative Technology, will be used to expand AnswersNow's counseling services outside of Virginia.
"Prior to Covid, insurance companies were not reimbursing for the services we provide," Beck said. "Payers have now seen the power of [telehealth], and we're excited to be at the tip of that sphere ... It's made our services more affordable for families, as we're now in-network with commercial insurers and Medicaid."
Beck said the process can take anywhere from three to six months per state, and the team expects to begin servicing in-network customers in Texas, Florida and other states along the east coast no later than the third quarter of the year. Additionally, he said AnswersNow will continue to grow its clinical team.
"We're pretty fortunate to have this responsibility to provide these incredibly meaningful services, and we're excited about scaling our operations in 2021," he said.
