Affect Therapeutics Raises $16M in Series A Funding
Summary
Affect Therapeutics, a McLean, VA-based company providing addiction treatment for the digital age, raised $16M in Series A funding. Founded in 2020, Affect Therapeutics offers clinically intensive treatment that follows a scientifically-proven program supporting the entire recovery journey via a smartphone app for drug and alcohol addiction. The company’s approach couples this type of cognitive behavioral therapy with counseling, medical oversight, and case management, delivering a comprehensive program based on decades of research. Affect currently holds outpatient treatment licenses in 20 states and aims to serve a majority of the U.S. population by the end of 2023. The company partners with the largest health insurance payers in the country, including UnitedHealthcare, Aetna, Humana, Molina, and Centene.