Tuesday, December 28, 2021

AlleyWatch

AlleyWatch

Ophelia Raises $50M for its Virtual Drug Rehab Platform

Posted: 28 Dec 2021 11:27 AM PST

The pandemic has brought on challenges for individuals with substance use disorders and those in recovery with in-person drug rehabilitation centers forced to scale back operations or temporarily close. Overdoses topped 100K in the first twelve months of the pandemic, up 29%. Only 4.2M of the 20M Americans with substance use disorder receive help each year. With such an acute and growing crisis coupled with political sentiment moving towards harm reduction, removing barriers to treatment has moved to the forefront of the discussion. Ophelia is a digital treatment platform that provides telehealth services to opioid users by connecting them to licensed Medication-Assisted Treatment (MAT) clinicians. For opioid users, rehab fails 90% of the time without access to medication. Ophelia's platform virtually connects providers to patients, who are able to secure prescriptions on the same day of the visit, from the privacy of their homes. Follow-up visits are scheduled to track progress, outcomes, and to hold users accountable. The visits are covered by insurance and the company offers out-of-pocket plans for the uninsured. Ophelia currently is approved to operate in 27 states with plans to expand to more localities. AlleyWatch caught up with Ophelia CEO and Cofounder Zack Gray to learn more about how the accessibility the platform providers to users that are not currently engaged with the health care system, the company's strategic expansion plans, and latest round of funding from investors that include Tiger Global, Menlo Ventures, General Catalyst, and Refactor Capital.

The AlleyWatch Startup Daily Funding Report: 12/28/2021

Posted: 28 Dec 2021 08:27 AM PST

The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 12/28/2021 featuring funding details for Waldo.io, Nostra, and much more. Both of these fundings are previously unreported.

Nuvocargo Raises Another $20.5M for its Digital Trade Platform That Modernizes All Aspects of the Logistics Industry

Posted: 28 Dec 2021 05:27 AM PST

Traditionally heavily reliant on a pen and paper model, the freight forwarding and logistics industry has long been plagued by a lack of digital adoption and disparate workflows, despite trillions of dollars of annual trade. As the pandemic is testing the resiliency of global supply chains, the industry is rapidly evolving to address today's challenges. Nuvocargo is an all-in-one digital platform that's focused on cross-border trade via trucking between the US and Mexico, an $800B+/yr market. The company offers freight forwarding, customs brokerage, insurance, and also offers trade financing solutions including factoring for carriers that leads to expedited payments, in less than 48 hours. Since its Series A in April, Nuvocargo has expanded its team to 80 from 30 members with plans to grow to 200+ next year and tripled its revenue. This new funding, pre-empted by Tiger's interest, comes at a $180M valuation. AlleyWatch caught up with Nuvocargo Cofounder and CEO Deepak Chhugani to learn more about how his pain point working in his family business led to Nuvocargo, the company's strategic expansion plans both in Mexico and the US, product roadmap, and latest funding round from investors that include Tiger Global Managemen, The Flexport Fund, Federico Ranero, QED Investors and NFX.
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