Quit Genius Scores $11 Million in Latest Funding Round

Quit Genius, a San Francisco-based digital provider of addiction treatment services, has raised $11 million in Series A funding, the company recently announced.

The money brings the company’s total funding raised up to $13.6 million, according to the fundraising tracking website Crunchbase. The round was led by British venture capital firm Octopus Ventures.

Founded in 2015, Quit Genius currently focuses on treating smoking and vaping addictions. The company said that the money in the latest funding round will go toward developing services to treat alcohol and substance use disorder, as well as to increase the company’s presence throughout the United States.

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Delivered by way of the company’s digital platform, Quit Genius users receive cognitive behavioral therapy services and a year of coaching support to help with smoking and vaping cessation.

A carbon monoxide breath sensor is connected to Quit Genius’s platform to monitor progress. Users are also directed to nicotine replacement therapy options, among other resources.

Quit Genius says its services have helped 53% of users stop smoking permanently, according to the results of peer-reviewed studies touted on the company’s website.

That figure is roughly double the success rate of smokers who have quit permanently with the help of face-to-face intervention and approximately 50 percentage points higher than smokers who quit cold turkey.

Other firms participating in the funding round included Y Combinator, Startup Health and Triple Point Ventures. Serena Ventures, an early stage investment firm founded by tennis star Serena Williams, also participated in the round.

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