Digital consuming dysfunction therapy firm Equip introduced a $58 million Sequence B funding spherical led by the Chernin Group (TCG). Tiger World, Normal Catalyst, F-Prime Capital, Optum Ventures, .406 Ventures and Katie Couric Media additionally participated within the spherical.
This information comes roughly a yr after the San Diego-based company closed its $13 million Series A spherical. Thus far the startup has raised $75 million in funding.
As a part of at this time’s announcement, Jesse Jacobs of the Chernin Group and Mary Ann Tocio, the previous president of Brilliant Horizons, joined the board.
WHAT IT DOES
Targeted on treating consuming problems, Equip units sufferers up with a digital five-person care crew. This crew features a therapist, doctor, peer mentor, household mentor and dietitian. The corporate makes use of digital family-based therapy (FBT) to assist kids, adolescents and younger adults with their consuming problems.
The product has rolled out in 40 states and works with 10 main business medical insurance firms, in addition to with Medicaid. Equip pitches its product as a method to supply remedy within the residence, with relations integrated into the care mannequin.
WHAT IT’S FOR
The corporate plans to make use of the infusion of money to increase into all 50 states and broaden its insurance coverage protection. It’s also engaged on a brand new product providing anticipated to launch later this yr.
Consuming problems are widespread in the USA. In actual fact, roughly 9% of the U.S. inhabitants, or 28.8 million individuals within the nation, could have an consuming dysfunction of their lifetime, in accordance with the National Association of Anorexia Nervosa and Associated Disorders.
The affiliation notes that individuals of shade are much less prone to be requested about consuming dysfunction signs by their physician, nonetheless they’re 50% extra seemingly than white teenagers to exhibit bulimic behaviors.
There are a selection of firms wanting to make use of know-how to assist deal with consuming dysfunction. Recovery Record is one other firm wanting to make use of digital means to assist individuals dwelling with consuming problems.
The corporate makes use of CBT, ACT and DBT. Moreover, a small study out of Australia discovered that offering consuming dysfunction therapy by a digital mannequin resulted in constructive outcomes and high-quality opinions from sufferers.