SpectrumAi Secures up to $20M Series A Investment

CVS Health Ventures leads with Cobalt Ventures, F-Prime, Frist Cressey, and Autism Impact Fund SpectrumAi, a company developing innovative solutions to improve autism care, today announced that it closed up to $20 million in Series A funding led by CVS Health Ventures with participation from Cobalt Ventures, and follow-on investments from Seed investors F-Prime, Frist Cressey, and Autism Impact Fund. Financing will accelerate adoption of SpectrumAi’s applied behavior analysis (ABA) electronic health record, Twyll, and Patterns, its network analytics platform, that are designed to improve data capture and objective measurement of ABA therapy for autism. Autism is the fastest growing developmental disability in the United States driving unprecedented growth in the ABA industry. ABA is intensive and long-term therapy, averaging up to 25-40 hours each week. Measurement of ABA therapy’s efficacy to date has been limited to subjective parent and provider surveys. “ABA providers and their employees crave better data capture, documentation and objective measurement of ABA therapy. SpectrumAi provides front-line technicians and clinicians with powerful tools to help each child reach their optimal outcome,” said Ling Shao, Founder & CEO at SpectrumAi. “As we lay the foundation for a transition from fee-for-service to value-based contracting in ABA, we’re honored that CVS Health Ventures, Cobalt Ventures, and others have joined our mission to advance quality industry-wi...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT ABA Applied Behavior Analysis Autism Autism Impact Fund Carl Byers Cobalt Ventures CVS Health Ventures David Eichler EHR F-Prime Frist Cressey Health IT Funding Health IT Fundings Health IT Inv Source Type: blogs