Monument Buys Fellow Digital Alcohol Recovery Startup Tempest

Monument has purchased fellow digital alcohol recovery program Tempest for an undisclosed sum.

The deal will give Monument access to Tempest’s resource library and community programming tools. The transaction is expected to help Monument expand its personalized and holistic care, according to a release.

“Tempest’s commitment to changing the narrative around alcohol use disorder through member-first care perfectly aligns with our own mission and values,” Mike Russell, CEO & co-founder of Monument, said in a press release. “We’re thrilled to be able to offer both Monument and Tempest members new tools in their treatment journey, along with anyone else ready to take the next step.”

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Monument offers online clinician-led alcohol therapy, which uses cognitive behavioral therapy and other methods designed to help patients make changes. The service also offers medications aimed at alcohol cessation, an anonymous community support forum, and therapist-guided online alcohol support groups.

Meanwhile, Tempest’s platform is designed to let users set goals and take a course on the foundation of sobriety. Similar to Monument, users are also able to connect with others in recovery through moderated group calls. The company also provides a library of recorded lessons and videos.

Monument plans to integrate Tempest’s resources into its platform in the coming months, but notes that in the meantime the two entities will continue to provide service on their respective platforms.

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There was an uptick in alcohol consumption during the COVID-19 pandemic. According to Massachusetts General Hospital research, excessive drinking increased by 21% during the pandemic.

This acquisition comes a year and a half after Monument announced a $10.3 million Series A funding, which brought the company’s total funding to $17.8 million. At the time of the announcement, Monument said the funding would go towards growth and building out its personalized treatment tools.

Tempest is also venture funded. In 2019 the company closed a $10 million Series A round led by Maveron Capital, which brought the company’s total raise to $14.3 million. 

Monument and Tempest aren’t the only companies working in the digital alcohol recovery space. Telehealth company Ria Health also provides alcohol use disorder care to individuals through their smartphones. 

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