Funding Roundup: Bicycle Health Raises $27M; Mental Health Monitoring Platform Completes Seed Round

Bicycle Health snags $27M in Series A

Bicycle Health — a provider of virtual opioid use disorder (OUD) treatment — has raised $27 million in Series A funding. Questa Capital led the investment, with additional participation from City Light Capital and Emily Melton, as well as previous investor SignalFire.

Headquartered in Boston, Bicycle provides virtual medication-assisted treatment (MAT) and integrated behavioral health support for OUD. Bicycle builds personalized treatment plans for each patient, with care teams consisting of medical providers, behavioral health clinicians and clinical support specialists. Patients have access to same-day medication refills, peer support, in-home diagnostics testing, primary care referrals and more.

Since the company’s founding in 2017, it has grown to be available in more than 20 states. Much of that growth has occurred amid the coronavirus, with Bicycle logging 30% month-over-month growth since the pandemic’s start.


Today, it dubs itself the largest virtual care platform for OUD in terms of geography and insurance coverage.

Bicycle plans to use its new funding to expand its clinician network, partner with more payers, invest in research and build additional local community partnerships.

Ksana Health raises $2M

Ksana Health — a digital health company that makes measurement tools for behavioral health companies — has raised $2 million in seed funding. Christian Angermayer’s re.Mind Capital led the funding round, with additional participation from WPSS Investments, Panoramic Ventures, the Telosity Fund, Palo Santo Venture Fund and Able Partners.


“Our tools for measuring mental health are stuck in the Stone Age, with patients filling out subjective mood surveys while already sitting in the therapist’s office,” Jan Hardorp — founding partner at re.Mind Capital Ltd. — said in a press release announcing the news. “We need something like a Fitbit for our mental health: passive, continuous and totally objective. And that’s exactly what Ksana is building.”

Ksana’s tool Vira continuously and passively collects quantifiable behavioral patterns through smartphones and turns them into actionable insights for clinicians and their patients. The company’s goal is to make mental health care more accessible, scalable and effective using digital tools such as remote patient monitoring, objective data and digital therapeutics.

Vira is currently available for limited release with strategic customers, according to the press release. Additionally, Ksana’s has accepted an invitation to join Anthem’s Digital Incubator to pilot the digital health solution, which it will test with Beacon Health Options during its residency. 

Psychedelic wellness company launches with pre-seed funding

A new psychedelic wellness company has launched after closing its pre-seed funding round.

Journey Clinical completed the round in March, with support from Neo Kuma Ventures, PsyMed Ventures, and Beckley Waves. It officially opened its seed round this month.

Based in New York, the company gives providers the ability to offer patients ketamine-assisted psychotherapy, which is an increasingly popular alternative to antidepressant medications such as selective serotonin reuptake inhibitors (SSRIs).

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