AbleTo, Inc., a provider of technology-enabled behavioral health solutions has raised $36.6 million in Series D funding led by Bain Capital Ventures and also includes strategic investor Aetna. Existing investors, ncluding .406 Ventures, Sandbox Industries, HLM Venture Partners, and Horizon Healthcare Services, Inc. also contributed in this round. AbleTo plans to utilize the funding to accelerate scale and expansion of its business operations. The company has now raised a total of $57.4 million in funding.
Presently in the United States, over 34 million adults (17% of the adult population) have both a behavioral health and a medical condition, and this combination is estimated to drive $300 billion in avoidable health care costs and lost productivity per year.
Founded in 2008, AbleTo improves patient outcomes and lowers costs by providing treatment that integrates behavioral and medical health care. Some of the largest national health plans, leading statewide Blues plans, and large employers use AbleTo’s platform to connect patients with AbleTo’s nationwide network of behavioral health providers. These providers treat the underlying behavioral health issues associated with medical conditions and life events using AbleTo’s evidence-based, structured treatment protocols, thus improving medical outcomes and decreasing the overall cost of care.
Aetna and AbleTo have been working together since 2011 to treat Aetna patients nationwide. As part of this collaboration, the companies have published and presented outcomes data jointly, including an outcomes study published in the American Journal of Managed Care. This study demonstrated a 31% decrease in total hospitalizations and a 48% reduction in hospital days over a six-month follow-up in a commercial population, driving significant cost savings per patient.