Behavioral health technology company Rethink First is reportedly being prepped for sale and could fetch a price as high as $1.5 billion, according to a report from Axios Pro.
K1 Investment Management – which holds a strategic investment in the autism care tech company – is looking for a buyer and the process is being led by Morgan Stanley, said Axios Pro reporter Sarah Pringle.
Founded in 2007, New York-based Rethink serves public and private health providers with data collection related to applied behavior analysis therapy, along with offering video-based training for staff and appointment management software. Rethink also provides software management for school districts nationwide.
Additionally, Rethink operates the employee and caregiving wellness platform Whil, which serves 30 Fortune 100 corporations with more than 12 million total covered employee lives in over 120 countries. Rethink purchased Whil last year for an undisclosed sum.
Manhattan Beach, California-based K1 had previously made a strategic investment in Rethink in 2020 for an undisclosed amount. Prior to the investment, Rethink had raised a minimum of $12 million, according to Crunchbase.
Sources told Axios Pro that Rethink has annual recurring revenue ARR between $80-100 million, up from an estimated $20-30 million in 2018. Axios Pros also noted that sources have placed the valuation of the company at “some $1.5 billion.”
Companies featured in this article:
K1 Investment Management, Morgan Stanley, Rethink First, Whil
