American Family backs AnswersNow
Richmond-based AnswersNow , the telehealth provider with video service designed for Applied Behavior Analysis (ABA) autism therapy, recently closed a Seed round of $1.8 million led by American Family Insurance Institute for Corporate and Social Impact and CIT with participation from Kapor Capital, Trolley Ventures, and K-Street Capital. Funds from the round are being used to fuel expansion plans.
Founded in 2016, the company (a team of ~17) offers a digital platform that supports parents of children on the autism spectrum by pairing them with their certified experts and providing clinical interventions. AnswersNow tele-ABA therapy is covered by insurance providers in Virginia, with plans to expand to Florida, Texas, Georgia, Pennsylvania and California. The company will also open its platform nationwide to people who choose to use it via self-pay.
“While there are millions of children and adults in the US with an autism spectrum disorder, only a fraction of those individuals has access to high quality care, as they are limited by geography, time, and resources. AnswersNow has built a teletherapy platform that breaks down these barriers while also deeply focusing on supporting equitable care for all kids. I am proud to help support this amazing company in its efforts to bring evidence-based ABA therapy to scale.” – Dr. Joy Ippolito, Social Impact Investment Director, American Family Insurance Institute for Corporate and Social Impact.
“We are excited to lead this investment in AnswersNow and look forward to working with Jeff and his team as they expand beyond Commonwealth of Virginia. AnswersNow will improve access to ABA therapy for families in need – particularly important in the age of Covid-19 which has created significant constraints with respect to the availability of providers.” – Alex Euler, Investment Director, CIT GAP Funds.