Lucid Lane, a Los Altos, California-based telehealth provider specializing in medication dependence and substance use disorders, has raised $4 million in seed funding. Battery Ventures led the investment.
WHAT THEY DO
Lucid Lane's patient-facing approach combines regular virtual coaching from licensed therapists and data-driven treatment planning. These sessions are conducted as either one-on-one, family or group video sessions, and are supported by in-app mobile chat with either the coach or peers.
"Medication dependence and addiction does not discriminate. It is a life-altering problem that can overtake literally anyone, and overcoming it is an incredibly complex, resource-intensive process," Adnan Asar, cofounder and CEO of Lucid Lane (and former CTO of Livongo Health), said in a statement. "Most people do not have the time, money or access to the level of continuous treatment required to beat dependence and prevent addiction. Lucid Lane aims to be that equalizer."
Patients sign up for the program by reaching out to Lucid Lane directly. The company accepts commercial health plans covering telehealth services, and recently announced that it will accept payment through Medicare.
WHAT IT'S FOR
The company did not outline specific plans for its seed funding.
MARKET SNAPSHOT
Digital tools delivering virtual coaching for substance abuse are plentiful. Just a couple months ago Quit Genius raised $11 million for its addiction-focused coaching and CBT platform. Last year saw a $4.1 million raise for DynamiCare Health's incentive and coaching system for substance-use-disorder recovery. Digital therapeutics have also tackled substance-use disorder over the years, the most prominent example of which was Pear Therapeutics' reSET.
ON THE RECORD
"We see great potential for Lucid Lane, as it has developed a scalable solution to one of the biggest problems facing society today," Battery General Partner Dharmesh Thakker said in a statement. "Telehealth solutions have emerged as highly capable of addressing complex problems, and Lucid Lane has embraced remote care from its beginning. Its design enables care anytime, anywhere for patients in their moment of need. This can make a tremendous difference in the battle between recovery and relapse. We believe that it will help millions of people lead better lives."
