Quit Genius Nabs $64M in Series B Funding

Virtual addiction treatment platform Quit Genius has raised $64 million in an oversubscribed Series B round, the company announced Monday.

The round was led by European investment firms Kinnevik and Atomico. Octopus Ventures, Triple Point Ventures and Startup Health — all of whom contributed to Quit Genius’ Series A round last year — also participated.

The Series B round brings Quit Genius’ total funding raised to date up to $78.6 million, according to the fundraising tracking website Crunchbase.


Founded in 2015, San Francisco-based Quit Genius advertises itself as the world’s first digital clinic to deliver medication-assisted treatment (MAT) for a variety of addictions. Focused at first on smoking and vaping cessation, Quit Genius has since branched out to also treat alcohol use disorder (AUD) and opioid use disorder (OUD).

Quit Genius employs counselors and clinicians to guide users, in addition to offering online tools and exercises based on cognitive behavioral therapy. Therapists and coaches are available 24/7, specifically for AUD and OUD support services, with devices such as breathalyzers connected to the platform to measure users’ progress.

Quit Genius also guides users in the administration of salivary tests to track their progress with AUD and dispatches phlebotomists to users’ homes to collect blood samples and biometric tests for OUD assessment, in addition to providing MAT prescriptions that are discreetly mailed to users.


Quit Genius offers its services through employee health plans, pharmacy benefit managers and wellness platforms. Currently, the company covers 2.1 million members and partners with 55 employers and health care plans.

Last October, the platform scored a partnership with the Evernorth division of the insurer Cigna Corporation (NYSE: CI). The agreement made Quit Genius the only nicotine cessation service available through the Evernorth Digital Health Formulary, which works with employers and other plan sponsors to find digital solutions to benefit members’ health.

Since its founding, Quit Genius says its services have resulted in over 750,000 individuals improving their lives and beating their addictions. Quite Genius also touts a tobacco cessation rate of 52% among users — higher than traditional methods. Plus, it says its users are five times more likely to beat their SUD over the course of a year compared to other programs.

Quit Genius intends to use its new Series B funding to help expand its platform nationwide.

“In the near term, we are aggressively expanding our provider network to cover the entire U.S. population across all 50 states,” Yusuf Sherwani, Quit Genius’ co-founder and CEO, said in the press release. “Our goal is for everyone to have access to evidence-based treatment for tobacco, alcohol and opioid addiction on their own terms.”

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