CHICAGO–(BUSINESS WIRE)–NOCD, the world’s leading provider of obsessive-compulsive disorder (OCD) treatment for children and adults, today announced the expansion of evidence-based treatment services for obsessive-compulsive disorder (OCD), one of of the most common and treatable serious mental illnesses. . This acceleration is possible thanks to a financing round of $34 million, co-led by Cigna Ventures and 7wireVentures, with the participation of new investor Longitude Capital as well as other existing investors Kaiser Permanente Ventures, F-Prime Capital, Eight Roads Capital and Health Enterprise Partners.
“We couldn’t be more excited about our relationship with Cigna,” said Stephen Smith, co-founder and CEO of NOCD. “As we remain focused on delivering the best clinical outcomes and a frictionless member experience, we know there is a clear opportunity to expand our impact exponentially.”
Since launching the company in 2018, NOCD has expanded to provide care in all 50 states and internationally, delivers more than 250,000 therapy sessions each year, and averages a 35% reduction in severity of OCD symptoms. The continued success of NOCD demonstrates the scalability and effectiveness of community-based therapy, a model that better identifies, engages and manages people with OCD.
Last year, NOCD further codified the effectiveness of the company’s proprietary model of care by announcing the largest OCD treatment study ever conducted. The 18-month retrospective analysis of over 3,500 NOCD Therapy members demonstrates the effective and efficient nature of NOCD’s first virtual exposure and response prevention (ERP) therapy service. Through the care delivery model, members receive face-to-face video sessions with an NOCD therapist as well as support between sessions through self-help tools and personalized peer communities.
To continue to build on the company’s strong foundation, NOCD will use these new funds to expand its network of OCD therapists, further redefine the public perception of OCD alongside #KnowOCD partner Howie Mandel, and improve key NOCD’s analytics and results capabilities with payers looking to provide their TOC population with more robust offerings.
“Cigna Ventures is focused on working with companies that provide innovative solutions that can more effectively solve some of the biggest challenges in healthcare,” said Craig Cimini, Director of Cigna Ventures. “NOCD plays a critical role in the behavioral health ecosystem with a proven ability to identify patients in need and seamlessly connect them to evidence-based therapy and tailored resources.”
A similar belief is shared by 7wireVentures. “The status quo in mental health care has failed patients for too long,” noted Alyssa Jaffee, partner at 7wireVentures. “As a market leader in delivering more convenient, affordable and effective treatment for OCD and related conditions, NOCD is a great example of the kind of innovation needed to solve some of the toughest problems in matters of health care.”
Less than five years ago, ERP therapy was not covered by most health plans, specialists who offered ERP were only located in major cities, and wait times for treatment with a specialist OCD could take up to two years on average. With over 130 million commercial lives covered, over 300 OCD therapists providing care in all 50 states and internationally, and the expertise to serve members of all age groups, NOCD has put in place the operational infrastructure needed to end the global OCD crisis.
“The population with OCD is significantly more widespread and more severe than public perception or data suggest,” said Dr Doug Nemecek, Chief Medical Officer, Behavioral Health, Evernorth. “NOCD helps us create better access to the treatment and support we critically need, and these personalized resources help us better meet the specific needs of individuals, not only improving health outcomes, but also ensuring that customers feel supported throughout the experience. ”
About NOCD:
NOCD (https://www.nocd.com) is the #1 provider for Obsessive Compulsive Disorder (OCD) treatment and the leading company behind Community Driven Therapy, a new frontier in behavioral healthcare that builds on communities condition-specific peer groups to identify consumers in need of help, encourage them to begin treatment, and serve them in a highly personalized manner. The company helps people get their lives back with clinically proven treatment for OCD by removing barriers to care and reducing the stigma associated with OCD. Inside the NOCD platform, members can quickly access a nationwide network of licensed therapists who specialize in Exposure and Response Prevention (ERP) therapy, the “gold standard” for treatment. TOCs.
Together with our therapists, patients, health plans, providers and employers, we improve the lives of people with OCD. Please visit our website for more information on NOCD.