Cortica, a hybrid provider that develops care programs for individuals with autism, announced it closed a $40 million strategic Series D extension, bringing its total Series D raise to $115 million.
The round was led by CVS Health Ventures, with participation by Ascension Investment Management, LRVHealth and the University of Wisconsin Foundation.
WHAT IT DOES
Cortica offers virtual and in-person medical diagnosis services, plus behavioral and developmental therapies for children with autism, developmental delays, ADHD and other neurodiverse conditions.
The company will use the funds to scale its reach nationally and invest in clinical decision support, data capture, research and technology.
“There is an increasing need for access to evidence-based care for children with neurodivergent conditions and autism, and we believe that Cortica is well positioned to help support our members and their dependents by deploying an integrated, medical and behavioral care model,” Justin Brock, partner at CVS Health Ventures, said in a statement. “Through our investment and collaboration with Cortica, we believe that we can help improve the overall quality of care for individuals with autism, as well as provide support to their caregivers.”
MARKET SNAPSHOT
In April, Cortica closed a $75 million financing round, two years after garnering $60 million in funding.
Diagnosing autism spectrum disorder or other neurodiverse conditions can be difficult, according to the Centers for Disease Control and Prevention. Many children do not receive an autism diagnosis until they are older, sometimes adolescents or adults.
Other companies aiming to improve autism care are Los Angeles-based SpectrumAi, which offers tools to analyze quality and outcomes data on applied behavior analysis, and Sprout, a tech-enabled autism care and treatment platform that provides in-home assessments and applied behavior analysis therapy.
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