Eleanor Health, an outpatient treatment provider democratizing access and delivery of substance abuse disorder treatment, has secured $30 million in a series D funding round led by General Catalyst to expand its whole-person care model.
The round was also backed by a consortium of existing and new investors, including Echo Health Ventures, Town Hall Ventures, Northpond Ventures, Emerson Collective, and Rethink Impact.
Led by William McKinney, Scott Fries, Elizabeth Hart, Debra Salisbury, and Corrin Arone, the company leverages a science-backed care model to help people struggling to overcome addiction and other substance abuse disorders at a reduced cost.
Leveraging Integrated Care Model for Improved Outcomes
Eleanor offers both in-person and virtual substance use disorder care based on a harm-reduction clinical model, including medications such as Vivitrol and Suboxone for addiction treatment, therapy, psychiatry, and peer recovery to enhance patients’ outcomes.
According to William McKinney, CEO of Eleanor Health, the company’s clinical care model allows it to meet substance use disorder patients where they are. This allows patients who might otherwise not seek help to overcome barriers and receive value-based care.
Eleanor’s approach to substance use disorder signifies a departure from the fee-for-service, abstinence-based, and short-term traditional treatment method that attracts more costs and is often ineffective for some patients.
The company’s care model is based on value-based payment structures that focus on reducing care costs and improving patient care outcomes. It partners with 17 payers to offer value-based substance use disorder treatment to patients across seven states (MA, LA, NJ, NC, WA, OH, and TX).