Richmond virtual behavioral therapy company AnswersNow Inc. has raised $11 million in a Series A round it says it will use to expand its reach, grow its staff and improve its platform.
The round was led by New York City’s Left Lane Capital, which focuses its investments on internet and consumer tech businesses. It also included participation from Madison, Wisconsin’s American Family Institute for Social Impact, Richmond’s Blue Heron Capital and New York City’s Difference Partners. Lani Fritts, the former CEO of Kadiant Inc., also participated.
AnswersNow pairs families with behavioral health clinicians on its proprietary platform. The clinicians provide applied behavior analysis, which is often used to teach new behaviors or dimmish behaviors associated with autism. It is also used in the treatment of attention-deficit/hyperactivity disorder and other developmental disabilities.
"This latest round of funding enables us to impact the lives of more families, many of whom have been sitting on waitlists for months, or who live in areas where there's not even one board-certified clinician,” AnswersNow CEO and co-founder Jeff Beck said in a statement. “With no waitlist and a robust team of PhD and master's-level clinicians on-hand, we can quickly connect families to individualized, effective therapy from the safety and comfort of their homes."
The company says its platform is designed to help clinicians replicate the controlled environment of an in-person therapy session, using a special screen to eliminate distractions and to help patients work through activities focused on things like memory and recognition.
AnswersNow said it will use the funding to improve the user experience of its platform as well as to grow its team of therapy providers and expand its services to more states. It is currently only available in Virginia and Georgia.
The company, which was founded in 2017 and is headquartered at 1717 E Cary St., employs clinicians across the country and partners with insurers including Medicaid, UnitedHealthcare, Aetna, Cigna, Anthem and Blue Cross Blue Shield.
The new funding round brings the company’s lifetime funding to $12.4 million, according to Crunchbase.
