Kyros – a Minnesota-based technology platform providing Substance Use Disorder (SUD) recovery services (See the Pulse 2.0 profile on this company to learn more) – recently announced that it has raised an additional $10.5 million in funding to expand access to life-saving services. Existing investor Rally Ventures led the round.
Since launching in 2021, Kyros has been focusing on removing barriers to Substance Use Disorder recovery, primarily through connecting individuals who need help with Certified Peer Recovery Specialists (CPRS) who serve as their mentors and advocates. But the challenges faced by people struggling with addiction are not confined within the four walls of a treatment center – where CPRSs have historically worked with their clients – but are experienced throughout their daily lives in their communities.
Kyros’ technology-enabled approach to peer recovery services is providing effective and scalable support by meeting individuals where they are physically, emotionally, mentally, and culturally within their communities. And this community-based partnership approach works to remove the practical barriers to recover, elevate, and amplify the work already being done by organizations across the industry. Clients are met at times and places that work for them (an average of 4 times per week) to develop and work through individualized wellness plans to achieve the goals relevant to their lives and recovery.
Kyros’ success as a digital solution for the recovery space is reflected in over 5,000 clients served in the last two years and over 400 CPRS who have provided those services. And peer recovery services, Kyros is also expanding access to same-day and virtual comprehensive assessments to provide those ready to get help an immediate pathway to receive it.
KEY QUOTES:
“Kyros is defining the next generation of recovery by recognizing that preventative care happens more and more outside the four walls of a treatment center. Our community-based approach, combined with the data analytics enabled by our technology platform, is incredibly powerful. We’re enthusiastic about channeling our investments into broadening access to services for more individuals in need, as well as advancing the refinement of tools crucial to enhancing both client and service provider outcomes.”
— Daniel Larson, president and CEO of Kyros
“Kyros is demonstrating the ability to significantly move the needle on client health outcomes by filling the gaps inherent in the existing industry model. Kyros has become a critical partner for industry incumbents to efficiently manage peer recovery services, so they can remain focused on their core mission and services. Our continued support is a commitment to fostering innovation that doesn’t just drive financial success, but also drives meaningful, lasting impact.”
— Justin Kaufenberg, Managing Director at Rally Ventures
