Boulder Care, a Portland-based startup founded in 2017 by CEO Stephanie Strong, offers telehealth treatment for individuals struggling with opioid and alcohol use disorder. The company recently secured $35 million in new funding, bringing their total amount raised to approximately $85 million. Boulder Care’s multidisciplinary care team includes physicians, nurse practitioners, peer recovery specialists, and social services support, all working together to provide treatment through an app-based program.
Despite an estimated 2.5 million adults in the U.S. suffering from opioid use disorder in 2021, only 1 in 5 received medications for treatment. Boulder Care aims to reach more individuals in need by leveraging technology to provide accessible, virtual care. During the pandemic, the federal government waived the requirement for in-person visits for providers to prescribe Suboxone, a medication used to treat opioid addiction, which Boulder Care offers.
Strong emphasizes the potential for technology to make a significant impact in combating the opioid epidemic, as traditional brick-and-mortar facilities are limited in the number of patients they can treat. By utilizing telehealth services, Boulder Care believes they can reach hundreds of thousands of individuals in need of treatment. The company’s commitment to expanding access to care has attracted investors such as Advance Venture Partners, Stripes, First Round Capital, Qiming Venture Partners, and Laerdal Million Lives Fund, who led the recent Series B funding round.
Boulder Care works with Medicaid and partners with various health insurance plans to provide affordable treatment options to a wider range of patients. The additional funding will support the company in expanding into new markets and enhancing their services. Strong, a recipient of the Young Entrepreneur of the Year award at the 2021 GeekWire Awards, brings a wealth of experience in venture capital investing and healthcare technology to her role as CEO of Boulder Care. Her bold vision for the company’s growth and impact on addressing substance use disorders has driven its success and attracted significant investment.
In 2020, Boulder Care founder Stephanie Strong expressed her belief that technology is the key to reaching more individuals struggling with substance use disorders and making a real impact on the epidemic. With traditional treatment facilities treating only a fraction of the individuals in need, Boulder Care’s telehealth platform offers a scalable solution to reaching hundreds of thousands of patients. By providing a comprehensive and personalized approach to care, Boulder Care is setting a new standard for addiction treatment through telehealth services.
Boulder Care’s innovative approach to addiction treatment has garnered recognition in the healthcare industry, with Strong being honored as a Forbes 30 under 30 recipient in healthcare in 2019. The company’s dedication to providing accessible, effective care to individuals with opioid and alcohol use disorders has positioned them as a leader in telehealth treatment. With the support of a strong investor network and a commitment to expanding their services, Boulder Care is well-positioned to continue making a positive impact in the lives of those struggling with addiction.
