Total amount raised
$84 Millions
Latest funding date
01/01/2023
Location
NOCD has successfully raised funds through multiple rounds, with the latest being a Series B round closed on January 31, 2023. The platform specializes in OCD therapy, offering live video sessions with licensed therapists and 24/7 support through its app.
With backing from 11 investors, including Eight Roads Ventures and Health Enterprise Partners, NOCD continues to expand its network and services. Keep reading to explore the intricacies of NOCD's fundraising journey and the investors supporting this innovative platform.
What Is NOCD?
NOCD, founded in 2014, is a leading provider in the mental health and healthcare industry, specializing in the treatment of Obsessive-Compulsive Disorder (OCD). The company is headquartered in Chicago, Illinois, and was founded by Stephen Smith.
With an employee count ranging from 101 to 250, NOCD offers specialized therapy through live video sessions and 24/7 support via its app. The platform aims to provide effective treatment and continuous support for individuals suffering from OCD, emphasizing the effectiveness of its ERP therapy.
How Much Funding Has NOCD Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial foundation and develop the platform.
- Seed Round
- Amount Raised: $1M
- Date: February 2018
- Lead Investors: 7wire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin initial market penetration.
- Series A Round
- Amount Raised: $4M
- Date: October 2019
- Lead Investors: Chicago Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A Round
- Amount Raised: $12M
- Date: October 2020
- Lead Investors: Health Enterprise Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series B Round
- Amount Raised: $33M
- Date: September 2021
- Lead Investors: F-Prime Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the community and offer additional services for long-term health.
- Series B Round
- Amount Raised: $34M
- Date: January 2023
- Lead Investors: 7wire Ventures, Cigna Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand services and enhance the platform's capabilities.
Total Amount Raised: $84M. Current Valuation: Not publicly disclosed.
Key Investors
- 7wire Ventures
- Details: 7wire Ventures is a venture capital firm that invests in early and growth-stage companies focused on digital health. They aim to transform healthcare through technology and innovation.
- Investment Focus Areas: Digital health, healthcare IT, consumer health.
- Notable Investments: Livongo, Bright Health, NOCD.
- Cigna Ventures
- Details: Cigna Ventures is the venture capital arm of Cigna, focusing on innovative healthcare solutions. They partner with startups to drive transformative change in healthcare.
- Investment Focus Areas: Healthcare innovation, digital health, health services.
- Notable Investments: Omada Health, Cricket Health, NOCD.
- F-Prime Capital
- Details: F-Prime Capital is a global venture capital firm investing in healthcare and technology. They manage over $2 billion and have a portfolio of more than 200 companies.
- Investment Focus Areas: Therapeutics, medtech, health IT & services.
- Notable Investments: Denali, Beam, Innovent.
- Health Enterprise Partners
- Details: Health Enterprise Partners is a private equity firm that invests in healthcare services and information technology companies. They focus on companies that improve healthcare delivery.
- Investment Focus Areas: Healthcare services, healthcare IT, medical devices.
- Notable Investments: Valence Health, Q-Centrix, NOCD.
- Chicago Ventures
- Details: Chicago Ventures is a venture capital firm that invests in early-stage technology companies. They support startups across various sectors to drive innovation and growth.
- Investment Focus Areas: Early-stage technology companies across various sectors.
- Notable Investments: SpotHero, G2 Crowd, NOCD.
What's Next for NOCD?
NOCD is poised to capitalize on the growing demand for telehealth services, particularly in the mental health sector. With a robust $33 million Series B funding, the company plans to expand its community and reach individuals earlier in their treatment journey. This expansion is expected to significantly increase the number of telehealth visits and enhance the platform's capabilities, offering additional services for long-term health.
Future fundraising opportunities appear promising, given the successful Series B round and the involvement of prominent investors. NOCD may seek further investment to support its ambitious growth plans, including international expansion and the development of new services. However, the company will need to navigate challenges such as maintaining the quality of care across a growing network and overcoming the stigma associated with OCD.
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