Monument — an online treatment platform for alcohol use disorder (AUD) — has closed on $10.3 million in Series A funding. It brings the startup’s total funding raised up to $17.8 million.
Based in New York, Monument connects users to a free anonymous community, therapist-moderated groups and other resources to help them change their relationship with alcohol. Members also have the option to be paired with a licensed physician and a specialized therapist to personalize their treatment and aid them in recovery.
Since launching last year, Monument has already grown its member base to about 12,000. Now, it plans to accelerate growth even further with the help of the money from its Series A funding round, which was led by San Francisco-based VMG Catalyst.
Specifically, the startup plans to put that money toward growth, brand building and “product initiatives that harness the power of community and personalized treatment tools,” according to a press release announcing the news.
Additionally, the startup plans to partner with insurance companies to help more people access Monument’s platform, expanding coverage for plan members and offering treatment options to people across the nation.
“We are eager to expand our treatment plans nationally, and make Monument affordable and accessible for all, while providing even more tools for anyone looking to get more out of life by drinking less,” Mike Russell, CEO and Co-Founder of Monument, said in the press release.