- Tempest, a virtual program changing how individuals access recovery, announced it has raised $10 million in Series A funding led by Maveron Capital
Tempest — a virtual program changing how individuals access recovery — announced it has raised $10 million in Series A funding. Maveron Capital led the investment round and Anarghya Vardhana is joining Tempest’s Board of Directors. Other investors that joined this round include Slow Ventures, Female Founders Fund, AlleyCorp, Refactor, Green D Ventures, and several individual investors. Including this round, Tempest has raised a total of $14.3 million.
The Series A funding round will be used for supporting the expansion of Tempest’s Membership program — which provides access to recovery-related content, community, and care. Plus its resources help people overcome alcohol use disorder earlier and sustain their sobriety longer. And the company is also dedicated to lowering the barrier of accessibility to recovery treatment through reimbursement and will expand its operations team to support B2B efforts.
“We are very pleased to complete our Series A financing with mission-aligned investors,” said Tempest founder and CEO Holly Whitaker. “From the beginning, it has been crucial that we partner with investors who understand our vision for building a recovery platform that is both desirable and accessible. Maveron stepped up to lead the Series A, and we’re excited to have Anarghya join our Board of Directors. We have an outstanding team and board for the next phase as we lay down product, technology, and infrastructure for a more expansive membership offering and increased accessibility as we move into the private payor market.”
The core product at Tempest is an 8-week program that lowers the barrier to entry to treatment for people seeking to change their relationship with alcohol. And Tempest is offered at a fraction of the cost compared to traditional intensive treatment programs. With the use of technology and social media, it makes treatment accessible and affordable. As a result, Tempest is able to serve a much broader population of drinkers than traditional recovery modalities.
“Tempest’s combination of technological sophistication and service model innovation will allow us to work with payors and providers to have a transformative impact on how we address the personal and economic costs of alcohol,” added Julia Bernstein, COO of Tempest. “Our evidence-based approaches such as peer support within our propriety framework and structure will allow us to scale and reach those whose access to care is limited by geography and cost.”
There are 46 million Americans who do not identify as addicted to alcohol. And Tempest is a modern alternative to current recovery options like AA. And the company is focused on putting people at the center of their own recovery through an approach that’s empathetic and empowering, driven by a brand that’s desirable and aspirational.
“We’re thrilled to back Holly and the team on this important, bold, and paradigm-shifting mission. Access to treatment and resources should not be limited to a select few, and we believe that Tempest can be the solution to open the aperture to a much more diverse audience,” explained Vardhana. “Tempest epitomizes one of the Maveron values of being focused on purpose and profit and we are honored to be a part of the journey.”
