Boston-based addiction recovery platform DynamiCare Health has collected $4.1 million in seed funding from Hyperplane Venture Capital, former US Representative Patrick J. Kennedy and other unnamed investors.
What they do
Founded in 2016, DynamiCare Health has built a platform supports users’ substance use disorder recovery with a number of smartphone-based features. These include random breath and saliva tests that are conducted through the device, GPS verification of treatment attendance, telehealth coaching and monetary incentive rewards that can’t be spent at a bar or liquor store. The platform is currently being employed by seven addiction treatment programs across the US.
“Fusing proven interventions with readily accessible technology is allowing us to bring effective recovery tools directly to the people who need it and fill a noticeable gap in the addiction space,” Eric Gastfriend, CEO and cofounder of DynamiCare Health, said in a statement.
What it’s for
DynamiCare plans to use its new millions to launch a consumer version of its app within the coming months, as well as to upgrade its telehealth coaching services.
Market snapshot
A number of tech-driven efforts have surfaced targeting addiction treatment and recovery, including WEconnect and Sober Grid’s substance abuse recovery apps. Meanwhile, legislature backing telemedicine programs for opioid addiction treatments have seen bipartisan support, and social media networks have begun to surface support resources following relevant searches.
On the record
“DynamiCare Health is a sophisticated and elegant approach to an incredibly difficult and personal problem millions of Americans face every day,” said Vivjan Myrto, founder and managing partner of Hyperplane Venture Capital. “DynamiCare brings a world-class team with decades of experience in the field. Their solution to such a complicated and growing problem is unique and has never been done before. Their data-driven approach has already demonstrated impressive results and could change the way we think about recovery.”
