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DotCom Therapy snags $13M to expand pediatric teletherapy services

Pediatric teletherapy supplier DotCom Remedy has raised $13 million in Collection A funding.

New Capital Companions led the financing spherical, with participation from LRVHealth and OSF Ventures.

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DotCom Remedy supplies psychological well being, behavioral, speech and occupational remedy to youngsters throughout the nation via a digital remedy platform. It companions with suppliers and colleges to ship its providers.

The Madison, Wisconsin-based firm’s objective is to develop entry to remedy for youths. Practically one in 5 youngsters have a psychological, emotional or behavioral dysfunction, corresponding to nervousness or despair, and solely about 20% of them get assist from a professional supplier, in line with information from the Facilities for Illness Prevention and Management.

“I noticed the hole that existed between the variety of certified therapists and the variety of youngsters who wanted assist, and I believed teletherapy was an effective way to assist shut that hole,” mentioned Rachel Robinson, founder and president of DotCom Remedy, in an electronic mail.

At Robinson’s earlier office, a neurology clinic, there was a four-to five-month waitlist to see a therapist, and a few sufferers traveled an hour or two for every go to.

“These components positioned quite a lot of pressure on a household and even made it inconceivable for some households to get their youngsters the assistance they wanted,” she mentioned.

This led Robinson to discovered DotCom Remedy in 2015. At this time, the corporate supplies teletherapy providers for greater than 400 colleges and well being methods throughout 38 states.

With the newly raised funds, DotCom Remedy plans to develop and set up a bigger presence with suppliers and payers.

Robinson believes the traders that participated in DotCom Remedy’s Collection A funding spherical will assist the corporate develop its presence.

“New Capital Companions has nice healthcare expertise, particularly in telehealth, because it was the primary institutional investor in Teledoc,” she mentioned. “OSF Ventures is the enterprise arm of OSF Healthcare, a well being system in Illinois and Michigan. And LRVHealth is a agency whose traders are all strategic companions, principally well being methods from throughout the nation.”

There are a number of telehealth firms offering entry to remedy out there as we speak, particularly after teletherapy use skyrocketed amid the Covid-19 pandemic.

DotCom Remedy faces competitors from bigger firms like Amwell and Talkspace, “however these firms are centered on treating adults,” Robinson mentioned. “Working with youngsters requires a really completely different skillset and it’s the place we focus completely.”

Since its inception, DotCom Remedy has raised $14 million. Robinson declined to reveal its valuation.

Photograph: Alisa Zahoruiko, Getty Photographs

 

 

 

 

 

 

 

 

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