Emilio Health, a tech-minded pediatric behavioral health startup, announced a $5 million seed round yesterday. The new cash infusion was led by Oak HC/FT.
As part of the investment deal, Annie Lamont, Oak HC/FT’s cofounder and managing partner, will be joining Emilio Health’s board of directors.
WHAT THEY DO
Emilio is taking a hybrid approach to behavioral health. Its services will include brick-and-mortar clinics with specialty services including occupational therapy and behavioral specialists. The startup is also incorporating a digital platform, which can be used to help track progress, schedule appointments and access tele-therapy.
The company was founded in October by Livongo vet Annie Lamont, but has yet to open its door.
“The current system of care for behavioral health is deeply fragmented, with limited access, inconsistent quality, and insufficient coordination resulting in poor outcomes and high costs. By wrapping live clinical support with a digital experience, Emilio Health is reconstructing this broken system,” Annie Lamont, cofounder and managing partner at Oak HC/FT, said in a statement. “We are honored to back two proven entrepreneurs, Naomi and [Dr. Giovanni Colella, cofounder and executive chairman of Emilio], as well as the exceptional Emilio Health team as they tackle this important issue.”
WHAT IT’S FOR
This new money will be put towards opening Emilio’s first clinics and launching its digital platform. The startup also plans to put the funds towards growing its leadership team.
MARKET SNAPSHOT
Emilio is hardly the only startup looking to combine brick-and-mortar facilities and digital care. Rumors have been flying that One Medical, a primary care focused practice that lets patients access around the clock video visits with a doctor and in-person care, is moving towards and IPO.
Kindbody, a women’s health startup, is another startup that combines in-person visits with digital care. Earlier this week it landed $4.5 million in new investments bringing its total funding amount to $32 million.
ON THE RECORD
“Behavioral health is one of the most daunting and costly societal and economic problems in the US, with 20% of all children having a diagnosable behavioral health issue but only twenty percent of those children receiving treatment,” Billy Deitch, Oak HC/FT principal, said in a statement. “Emilio Health has built a scalable engine to radically improve care delivery and redefine the experience for children and families. We are proud to help them make an impact.”
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