Boulder Care, a Portland, Ore.-based startup founded in 2017 by CEO Stephanie Strong, recently secured $35 million in new funding to support their telehealth treatment services for individuals struggling with opioid and alcohol use disorder. The company’s goal is to provide accessible treatment through an app-based program that includes a multidisciplinary care team consisting of physicians, nurse practitioners, peer recovery specialists, and social services support. Despite an estimated 2.5 million adults in the U.S. experiencing opioid use disorder in 2021, only 1 in 5 of them received medications for treatment. Boulder Care aims to bridge this treatment gap and make a significant impact on the addiction epidemic.
During the COVID-19 pandemic, Boulder Care leveraged telehealth services to offer medications such as Suboxone to adults addicted to opioids, following the federal government’s waiver of in-person visit requirements. CEO Stephanie Strong highlighted the limited capacity of traditional brick-and-mortar addiction treatment facilities, which often serve fewer than 10,000 patients. Strong believes that through technology, Boulder Care can reach hundreds of thousands of individuals in need of addiction treatment, effectively addressing the opioid epidemic. Strong’s background in venture capital investing and consulting in healthcare and technology has equipped her to lead Boulder Care in expanding their innovative approach to addiction treatment.
Recognized for her achievements in healthcare and entrepreneurship, CEO Stephanie Strong won the Young Entrepreneur of the Year award at the 2021 GeekWire Awards and was previously named a Forbes 30 under 30 honoree in healthcare in 2019. Boulder Care’s success in securing the recent $35 million in funding will enable the company to further expand into new markets and increase access to their telehealth addiction treatment services. The Series B round was led by Advance Venture Partners and included participation from existing investors such as Stripes, First Round Capital, Qiming Venture Partners, and the Laerdal Million Lives Fund. Boulder Care has raised approximately $85 million in total funding to date, demonstrating strong support for their mission to revolutionize addiction treatment using technology.
With the funding secured from the Series B round, Boulder Care plans to extend its reach to more individuals in need of addiction treatment by expanding into new markets. The startup’s focus on using telehealth services to provide accessible and effective care has proven successful, especially during the pandemic when in-person visits were limited. Boulder Care’s partnership with Medicaid and various health insurance plans further strengthens their ability to offer treatment services to a broader population. By leveraging technology and a multidisciplinary care team, Boulder Care aims to address the opioid epidemic and make a significant impact on the lives of those struggling with addiction.
Despite the increasing prevalence of opioid and alcohol use disorder in the U.S., a significant treatment gap exists, with many individuals not receiving the necessary medications for treatment. Boulder Care’s innovative approach to telehealth addiction treatment services addresses this gap by offering accessible care through a mobile app and a multidisciplinary care team. The recent funding secured by the startup will enable them to continue expanding their services into new markets and reaching more individuals in need. CEO Stephanie Strong’s vision for the company, combined with her background in healthcare and technology, positions Boulder Care as a leader in revolutionizing addiction treatment through telehealth services.
