AbleTo, Inc., a NYC-based provider of technology-enabled behavioral health solutions proven to improve patient outcomes and lower healthcare costs, closed $36.6m in financing.
The round was led by Bain Capital Ventures with participation from strategic investor Aetna (NYSE: AET) and existing investors .406 Ventures, Sandbox Industries, HLM Venture Partners, and Horizon Healthcare Services, Inc. As part of this investment, Yumin Choi, Managing Director, Bain Capital Ventures, will join AbleTo’s board.
The company intends to use the funds to accelerate scale and expansion of business operations.
Led by Rob Rebak, President and CEO, AbleTo provides technology-enabled behavioral health care via structured therapy programs that strengthen medical recovery and self-care among members with chronic or complex clinical 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. The programs are clinically proven to improve both behavioral health and medical outcomes while lowering overall spending for higher-cost, higher-risk members.
Today, a number of the largest national health plans, leading statewide Blues plans, and large employers use the platform to connect patients with its nationwide network of behavioral health providers.