Total amount raised
$67.7 Millions
Latest funding date
12/01/2021
Location
Ophelia has successfully raised significant funding through multiple rounds, with the latest being a Series B round in December 2021. The company is backed by prominent investors, including General Catalyst and Four Acres Capital, among others.
Ophelia offers online treatment for opioid addiction, utilizing Suboxone® to manage cravings and withdrawal symptoms. Their platform emphasizes privacy, convenience, and stigma-free care, making it accessible and supportive for those seeking help.
What Is Ophelia?
Ophelia, founded in 2019 by Mattan Griffel and Zack Gray, is a healthcare company based in New York, New York. The company specializes in providing online treatment for opioid addiction, utilizing Medication-Assisted Treatment (MAT) with Suboxone.
With a team of 11-50 employees, Ophelia emphasizes privacy, affordability, and accessibility in its services. The company aims to offer a stigma-free, judgment-free environment, making it easier for individuals to seek help and manage their addiction effectively.
How Much Funding Has Ophelia Raised?
- Seed Round
- Amount Raised: $2.7M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and develop Ophelia's digital MAT services and clinical model.
- Series A
- Amount Raised: $15M
- Date: April 2021
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale and enhance the Ophelia Care Model and platform.
- Series B
- Amount Raised: $50M
- Date: December 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: $275M
- Motivation Behind the Round: To expand Ophelia's treatment program, integrate with more payors and partners, and develop a clinician recruitment, training, and support platform.
Total Amount Raised: $67.7M. Current Valuation: $275M.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies. They are known for their investments in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. They focus on both consumer and enterprise sectors.
- Investment Focus Areas: Consumer technology, enterprise technology.
- Notable Investments: Uber, Roku, Siri.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in companies driving powerful, positive change. They support companies from seed to growth stage.
- Investment Focus Areas: Early-stage investments, growth investments, various sectors.
- Notable Investments: Airbnb, Stripe, Snap.
- Refactor Capital
- Details: Refactor Capital is a venture capital firm that invests in early-stage companies, particularly those that are science and technology-driven.
- Investment Focus Areas: Science-driven companies, technology-driven companies, early-stage companies.
- Notable Investments: Ginkgo Bioworks, PathAI, Catalog.
- 640 Oxford Ventures
- Details: 640 Oxford Ventures is a venture capital firm that invests in early-stage technology companies. They focus on innovative and disruptive technologies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Specific notable investments not mentioned.
What's Next for Ophelia?
Ophelia stands at the cusp of significant growth, driven by the increasing demand for accessible opioid addiction treatments. With a recent $50 million funding round, the company is poised to expand its telemedicine platform, reaching more patients and clinicians across the United States. This expansion is crucial as the opioid crisis continues to escalate, highlighting the need for effective, evidence-based treatments.
Future fundraising opportunities appear promising, given the strong investor confidence and the company's impressive growth trajectory. As Ophelia scales, it may attract further investments to support its ambitious plans, including integrating with more payors and partners and developing a robust clinician recruitment and training platform.
However, challenges remain. Ensuring the accessibility and effectiveness of their telemedicine platform, navigating regulatory hurdles, and competing with the black market for opioid treatments are significant obstacles. Despite these challenges, Ophelia's innovative approach and strong backing position it well for continued success in addressing the opioid epidemic.
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