Pelago, a digital substance use management platform formerly known as Quit Genius, secured $58 million in Series C funding, bringing its total raise to $151 million. Existing investor Atomico led the round, with participation from other investors including Octopus Ventures, Y Combinator, and Kinnevik AB. Pelago works with health plans, employers, and individuals to offer personalized virtual substance use care for alcohol, tobacco, and opioid use. The company provides remote monitoring tools and medication-assisted treatment. The funding will be used to accelerate its product roadmap, conduct clinical research, and expand its continuum of care. Pelago aims to break down barriers to substance use care and address high costs associated with substance use disorders in the U.S. Other companies in the digital addiction treatment space include Bicycle Health, Ria Health, Workit Health, and Carrot.
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Pelago scores $58M to scale virtual clinic for substance use management
