Bicycle Health, a Boston, MA-based virtual care provider of evidence based treatment for opioid use disorder (OUD), raised $27M in Series A funding.
The round was led by Questa Capital with participation from City Light Capital, Emily Melton and previous investor SignalFire.
The company will use the capital to expand its clinician network, partner with additional payers, invest in research and continue building local community partnerships to reach those without other treatment options.
Founded in 2017 by Ankit Gupta, CEO/Founder, Bicycle Health provides confidential, convenient and clinically-validated Medications for Addiction Treatment (MAT) and Integrated Behavioral Health support via telemedicine, for the treatment of opioid use disorder. Available in over 20 states and growing, the company creates customized treatment plans for each patient, delivered by a team of medical providers, behavioral health clinicians and clinical support specialists. Treatment is delivered virtually, and includes synchronous and asynchronous access to the patient’s care team, same day prescription refills for medication management, access to peer support groups and psychotherapy, and regular in-home diagnostics testing to monitor a patient’s progress. Bicycle Health also provides referrals to primary care and community support services to address Social Determinants of Health.
In addition, the company is announcing national in-network insurance coverage from UnitedHealthcare, Aetna, Medicare and Medicaid in select states, helping to make treatment more affordable for more patients in need.