NOCD, a provider of obsessive compulsive-disorder treatment, announced an impressive Series B funding round as it continues its efforts to address the global OCD crisis.
NOCD pulled in $33 million in the funding round following the company establishing a new behavioral health market category called “Community-Driven Therapy”. The funds will be used to expand NOCD’s professional community, reach people earlier in their treatment journey and offer additional services to assist with their long-term health.
Stephen Smith, the CEO and founder of NOCD, said in a news release the behavioral health treatment system needs a new digital front door “that meets the needs of consumers with severe conditions on their terms, where they are.” It’s NOCD’s goal to meet those needs.
“NOCD, for the first time, offers an accessible and effective solution for one of the most prevalent and stigmatized behavioral health populations – people with OCD,” said Smith. “Our unique approach has also enabled us to establish a new category in the behavioral health field called Community-Driven Therapy. We look forward to working with our investors who participated in this financing to accelerate our mission to improve the lives of people with OCD and support our significant growth.”
Community-Driven Therapy leverages condition-specific peer communities to identify consumers in need of help. It also encourages them to start treatment and serve them in a highly personalized way.
NOCD’s success comes from its personalized and evidence-based treatment services lead by its clinical leadership team. According to NOCD, many people are motivated to start treatment after hearing from others in the NOCD community who have overcome similar, difficult challenges.
NOCD offers ongoing, face-to-face telehealth sessions from licensed NOCD therapists that specifically specialize in OCD treatment. Additionally, members have access to always-on support when their therapist is unavailable, including personalized peer groups and self-help tools.
The company is now delivering more than 12,000 live telehealth visits per month “with outcomes showing 40% improvement in a patient’s health within as few as 90 days,” according to the news release.
The $33 million investment was led by F-Prime Capital, with Eight Roads Ventures, and Kaiser Permanente Ventures participating along with existing investors including 7wireVentures, Health Enterprise Partners (HEP), and Chicago Ventures.
Jon Lim, partner at F-Prime Capital, said the firm is “excited to partner with the world-class team at NOCD as they continue to experience significant growth and build upon their ongoing reputation of clinical success.”
“We believe NOCD has developed a highly differentiated and proven solution that is transforming the treatment landscape for communities and patients suffering from OCD,” Lim said.
While NOCD has built a noticeable presence in the U.S. market, the platform is also experiencing increasing traction from international markets in recent months. Eight Roads Ventures, with its global platform across Europe, India, China and Japan, will help NOCD to further support international customers.
Written by Patrick Filbin