Affect Therapeutics Secures $16M to Expand App for Drug and Alcohol Addiction

What You Should Know: 

• Today, Affect Therapeutics – a McLean, VA-based company reimagining alcohol and drug addiction treatment with smartphone apps that put an integrated treatment program into the pocket of its members raises $16M in Series A funding led by ARTIS Ventures. The funding also included additional participation from previous investors AlleyCorp and CityLight, as well as new investments from LifeArc Ventures, Samsung Next, and What If Ventures. 
• Founded in 2020, Affect Therapeutics offers clinically intensive treatment that is all-digital, accessible, and cost-effective.

Supporting Entire Recovery Journey

Affect has established a scientifically-proven program that supports the entire recovery journey, and is the first company to reward healthy behavior with financial incentives, known as contingency management, to drive motivation resulting in increased retention and more durable sobriety. This is coupled with counseling, medical oversight, and case management, delivering a comprehensive program based on decades of research. Affect has already treated thousands of patients with results that are proven to be twice as effective as traditional treatment models by key metrics insurance and medical partners value most. More importantly, these outcomes change peoples’ lives and lead them to manage the chronic disease of addiction into lasting remission.

In its short time in market, Affect has already treated thousands of patients with results that are proven to be twice as effective as traditional treatment models by key metrics insurance and medical partners value most. More importantly, these outcomes change peoples’ lives and lead them to manage the chronic disease of addiction into lasting remission. 

Availability

Affect currently holds outpatient treatment licenses in 20 states and aims to serve a majority of the U.S. population by the end of 2023. The company partners with the largest health insurance payers in the country, including UnitedHealthcare, Aetna, Humana, Molina, and Centene. The company plans to use the funding to advance their program initiatives in more states, as well as engineering innovation in its platform. The Affect app is free to download on the Google Play Store or Apple App Store.

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