Monument Raises $10.3M in Series A Funding


Monument Inc., a NYC-based brand in consumerized healthcare for alcohol use disorder, closed a $10.3m (USD) Series A funding.

The round, which brings its total capital raised to $17.8m, was led by VMG Catalyst.

The company intends to use the funds to expand product initiatives.

Launched in 2020 by Mike Russell, CEO, Monument is an online platform for those looking to change their relationship with alcohol. It connects members to a free anonymous community, therapist-moderated groups, and a collection of resources to provide the support and information they deserve. Members seeking medical treatment are introduced to a licensed physician and a specialized therapist to develop a personalized treatment plan specific to their goals.

In addition to brand-building and growth, the funding will be put towards product initiatives that harness the power of community and personalized treatment tools. Monument will partner with insurance companies to expand coverage for plan members, and offer treatment plans across all U.S. states to eliminate barriers to affordable evidence-based care.

Since launching in May, the company has already connected 12,000+ members in a powerful digital community.



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