MedCity News
Addiction treatment startup Quit Genius raises $64M
The startup began with digital tobacco cessation programs, but recently expanded to programs for alcohol use disorder and opioid use disorder. The $64 million funding round was led by Kinnevik and Atomico.
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A year ago, more than 13% of adults said they had started or increased substance use to cope with the pandemic, according to data from the Centers for Disease Control and Prevention. As in-person programs for substance use were put on hold, more people turned to telehealth.
Seeing a need, Quit Genius, a startup offering app-based tobacco cessation programs, expanded into alcohol use and substance use disorders last year. It recently raised $64 million in funding co-led by Kinnevik and Atomico, which it plans to use to expand across the U.S.