Virtual substance use management company Pelago has named Frank Jennings its new president, the company announced last week.
Jennings comes over from a three-year tenure at Castlight Health where he was the chief sales officer. He also served as the chief commercial officer at Covera Health and senior vice president of sales at Doctor on Demand.
“Pelago’s clinically validated approach, powerful cost-saving metrics and nationwide reach are changing the face of substance use care,” Jennings said in a statement.
Jenning is replacing company co-founder Dr. Sarim Siddiqui. Siddiqui remains at Pelago but stepped down from president in September, according to LinkedIn.
A message left with a Pelago spokesperson Monday was not returned.
Founded in 2015 under the name Quit Genius, New York-based Pelago has created a digital platform for treating substance use disorders (SUD) including alcohol use disorder, opioid use disorder and tobacco use. The company contracts with employers, health systems and health plans, which use the platform to administer digital services and telehealth offerings.
Among other companies, Pelago has provided its substance use management program to AT&T., Phillips and GE Appliances.
Pelago made a splash in 2022 when it announced it was tying all its revenue from such business-to-business contracts into meeting agreed upon performance goals.
“If we don’t hit those goals, we’re going to lose some of our fees, all the way to 100% if we miss all of our goals,” Sherwani told Behavioral Health Business at the time.
Last year, Pelago expanded its offerings to teens with SUDs.
In April, Pelago said they had raised $58 million in a Series C financing round. In total, the company has raised over $150 million from outside investors.
