Photo: DynamiCare Health
Massachusetts-based DynamiCare Health announced it has raised $4.1 million in seed funding from Hyperplane Venture Capital and several other investors including mental health and addiction advocate former U.S. Rep. and founder of DontDenyMe.org Patrick J. Kennedy. The funding will be used for supporting the rollout of its evidence-based digital platform to help people overcome substance use.
“We’re humbled by the support we’ve received and look forward to working alongside our investors to grow our platform,” said DynamiCare Health co-founder and CEO Eric Gastfriend. “Fusing proven interventions with readily accessible technology is allowing us to bring effective recovery tools directly to the people who need it and fill a noticeable gap in the addiction space.”
DynamiCare’s digital platform reinforces a person’s recovery from addiction by offering random breath and saliva tests conveniently through their phone and treatment attendance check-ins verified by GPS. Plus it offers supportive telehealth recovery coaching and rewards for healthy progress with deposits on a smart debit card that blocks cash withdrawals and spending at bars and liquor stores.
“DynamiCare Health is a sophisticated and elegant approach to an incredibly difficult and personal problem millions of Americans face every day,” added Hyperplane Venture Capital founder and managing partner Vivjan Myrto. “DynamiCare brings a world-class team with decades of experience in the field. Their solution to such a complicated and growing problem is unique and has never been done before. Their data-driven approach has already demonstrated impressive results and could change the way we think about recovery.”
DynamiCare Health’s incentive-driven approach automates Contingency Management — which is an overlooked methodology for supporting addiction treatment that has been effective in over 100 randomized controlled trials. This technology is being used at 7 addiction treatment programs across the country.
“DynamiCare Health offers the kind of innovation the recovery community desperately needs. Evidence-based, affordable behavioral intervention is out of reach for far too many people,” explained Kennedy. “DynamiCare’s platform offers an easily accessible option for payers, employers, families, and individuals to work together to help a person achieve sustained recovery.”
With this round of funding, DynamiCare plans to bring its behavioral intervention app directly to consumers later this spring. Plus the funding will advance its telehealth recovery coaching service to ensure the technology is tailored to each member’s needs and motivates them to achieve their personal health goals.
DynamiCare has won several awards, including a Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH), Gov. John Kasich’s Ohio Opioid Technology Challenge, and the Global Grand Prize in the Harvard Business School Alumni New Venture Competition. And DynamiCare won a slot as a participant in the MassChallenge HealthTech accelerator for two years running.