DotCom Therapy (DCT) — a virtual provider of therapy services to adolescents and teens — has raised $13 million in a Series A funding round led by private equity firm New Capital Partners, with participation from LRVHealth and OSF Ventures.
Founded in 2015, Madison, Wisconsin-based DCT provides teletherapy services for over 400 schools and health systems across 38 states. DCT’s in-house therapists are board certified and licensed in 48 states, with the platform also working with a variety of commercial and public insurance plans.
Services provided by DCT include speech, occupational and behavioral health therapies, along with mental health counseling and applied behavior analysis (ABA), which is widely considered to be a gold standard of autism care. Families signing up for DCT services can do so through the company’s Zesh platform, which connects them to a therapist of their choice after completing an assessment.
Services are available seven days a week at any time of the day, which includes children’s school hours. An adult caregiver is required to be present with a child during all DCT sessions.
More Americans have been using telebehavioral health services since the onset of the pandemic. As a result, DCT founder and president Rachel Robinson believes the public has more trust in the ability of behavioral health care to be delivered virtually.
“We had no other choice but to lean on telehealth to be a solution,” Robinson, a trained speech language pathologist, told Behavioral Health Business. “By leaning on it, I think a lot of people saw the power of telehealth. The majority of individuals that I’ve engaged with have now said, ‘I don’t want to go back to in-person, teletherapy is just as good — if not better — and I can do it from the comfort of home.’”
The company plans to use the funding to make technological advancements to its Zesh platform, in addition to increasing the number of school partnerships nationwide and scaling its existing relationships with health care providers and payers.
“Those funds are going to be utilized in order to build out our sales and growth strategy, when it comes to health care,” Robinson said. “It’s also going to help us build out Zesh to make it even more adaptable not just in the education sector, but also in the health care sector.”
Robinson said that she hopes to have DCT available in all 50 states by next year. However, she stated that the company is taking a “very focused approach” to growth, with a priority on ramping up services in states where they already have a presence.
“The states that we’ve already established care within the education sector, we also want to be able to expand within those communities,” Robinson said. “We want to be able to increase access throughout the entire US, while also being mindful of the fact that we have these different communities that we’ve already been working with, that we want to continue to strengthen.”
Robinson added that the company is entertaining the possibility of a future funding round, but gave no timetable as to when that might occur.
“We’re well aware that this may not be our last funding round,” she said. “I’m really focusing on pounding the pavement with this current investment, cracking into the different health care systems, working with plans and then re-evaluating [funding possibilities] come the new year.”
DCT’s Series A round comes less than a month after it was named to Inc. Magazine’s 2021 list of the 5,000 fastest growing private companies in America. The company, according to the magazine, has achieved a growth rate of 158% over a three-year period.