AbleTo Announces Strategic Investment from Optum Ventures
Funding marks the beginning of a relationship aligned around behavioral health innovation
NEW YORK, Jan. 8, 2019 /PRNewswire/ -- AbleTo, the market-leading provider of virtual behavioral health care, announced today that it had secured a significant investment from Optum Ventures, closing out a recently raised Series D financing.
AbleTo partners with payers to analyze health data and identify members who would benefit from access to high-quality behavioral health care, and then delivers that care virtually through a nation-wide network of skilled professionals. AbleTo is proven to improve health and reduce medical costs with evidence-based behavioral health care.
The investment by Optum Ventures recognizes the high cost of unmet behavioral health needs, access challenges for individuals and the growing demand for more proactive solutions to address the problem. AbleTo's data-driven approach is making a significant impact on the behavioral health care landscape, and the company's new partnership with Optum Ventures aligns with the need to foster continued innovation.
"We've proven huge value in treating the underlying behavioral health needs that accompany chronic and complex conditions," said Trip Hofer, CEO of AbleTo. "We are excited to partner with Optum Ventures on our journey to create a better approach to behavioral health care for the millions of people in need."
"AbleTo's behavioral health solutions have a meaningful effect on total cost of care, productivity and overall well-being," said Stephen Renfro, Principal, Optum Ventures. "AbleTo is changing the way people access and experience behavioral health care, and we look forward to working with AbleTo to drive further innovative solutions."
Optum Ventures joins a syndicate of earlier AbleTo investors: .406 Ventures, Aetna, Bain Capital Ventures, HLM Venture Partners, Horizon Healthcare Services, Inc. and Sandbox Industries.
About Optum Ventures:
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit www.optumventures.com.
About AbleTo, Inc. AbleTo, Inc. is a market leader in providing technology-enabled behavioral health care. AbleTo has been treating patients for over six years, and improves patient outcomes and lowers costs by providing treatment that integrates behavioral and medical health care. AbleTo's structured therapy programs strengthen medical recovery and self-care among members with chronic or complex clinical needs. AbleTo analytics, coupled with our multi-channel engagement platform, identify and engage members with unmet, often undiagnosed, behavioral health needs. A proprietary platform connects individuals and their care teams with AbleTo licensed providers who deliver weekly sessions by phone or video supported by an integrated digital experience. AbleTo programs are clinically proven to improve both behavioral health and medical outcomes while lowering overall spending for higher-cost, higher-risk members. Follow AbleTo on LinkedIn and Twitter.
Media Contact: AbleTo, Inc.
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SOURCE AbleTo, Inc.