Workit Health, an Ann Arbor, Mich.-based virtual substance use disorder treatment company, raised $118m in Series C funding.
The round was led by Insight Partners, with participation from CVS Health Ventures, FirstMark Capital, BCBS Venture Fund, and 3L Capital. As part of the round, Nicole Shimer, Vice President at Insight Partners, will join Workit’s Board of Directors with Peter Segall, Managing Director at Insight Partners, will join as a Board Observer.
The company intends to use the funds to accelerate growth into new markets, as well as expanding its primary and psychiatric care offerings.
Led by Lisa McLaughlin and Robin McIntosh, Co-CEOs, Workit Health offers licensed clinical support for substance use disorder and co-occurring conditions in ten states: Alaska, California, Florida, Michigan, Minnesota, New Jersey, Ohio, Oregon, Washington and Texas. In addition, the company currently offers a coaching and counseling program nationwide. Its clinical and counseling programs are currently covered by insurance for over 93 million lives.
The program includes telemedicine visits and medication e-prescribed to a local pharmacy, as well as online recovery groups, an interactive therapeutic curriculum, and direct messaging with a care team. In 2021, Workit Health’s offerings expanded to include primary care for commonly occurring physical conditions like hepatitis C and PrEP, and psychiatric care including depression, anxiety, insomnia, and ADHD.