PursueCare Announces Series A Funding To Meet Increasing Demand For Telehealth Addiction Treatment Services At Home During COVID-19 Outbreak


Mar 18, 2020, 09:21 ET

MIDDLETOWN, Conn., March 18, 2020 /PRNewswire/ — PursueCare (pursuecare.com), a Connecticut-based telemedicine provider treating individuals struggling with Opioid Use Disorder (OUD), has announced a Series A capital raise to help meet growing demand for its virtual medication-assisted treatment programs due to COVID-19 (Novel Coronavirus) outbreaks.

The capital raise was lead by Chicago-based venture firms Seyen Capital and OCA Ventures, along with a syndicate of existing and new investors.

PursueCare’s app and services were launched in 2019 to address rural populations suffering from high rates of OUD, and a lack of comprehensive treatment options in their communities. The innovative “tele-MAT” model gives patients convenient and private access to care, including medical providers who can prescribe medication like Suboxone, addiction counselors, behavioral therapists, and at-home toxicology screening. Care coordinators help patients get started with a treatment plan, and provide support throughout care.

Additionally, the company’s Joint Commission-accredited pharmacy, CompreCare Rx (comprecarerx.com), can ship medications directly to patients’ homes in 25 states. Earlier this year it launched an online pharmacy where patients and family members can order the life-saving overdose reversal drug Narcan and the generic-equivalent naloxone.

The PursueCare app is designed for use on any smart phone or tablet, and can be used by individuals with limited data plans in areas with poor cellular service. The telehealth care provided is covered by most insurances.

Ordinarily, treatment with buprenorphine medications like Suboxone requires a a one-time visit to a partnering medical facility before treatment can continue at home. However, on March 16th, 2020, the DEA published a COVID-19 Information Page containing guidance waiving this requirement during the Secretary of the Department of Health and Human Services public health emergency declaration.

“People with OUD and other substance use disorders may be at greater risk due to the effects of those substances on lung and heart health,” said PursueCare’s Chief Medical Officer Dr. Steven Powell, MD. “By transitioning patients out of physical interaction and ensuring they can safely receive consistent care from home, we can help reduce unnecessary exposure for vulnerable populations.”

PursueCare establishes transition-of-care programs with partnering community health centers, hospitals, primary care, and residential programs using its PursueCare Connect portal product. The portal makes it possible to quickly collaborate with on-site providers, and immediately assess and smoothly transition patients into virtual care at home.

The company recently announced it will be waiving PursueCare Connect portal implementation fees to support adoption and use by health partners during the COVID-19 outbreak to refer patients to PursueCare’s telehealth providers.

“We already work with healthcare organizations in rural and underserved areas that are short on resources and don’t ordinarily treat substance use disorders directly,” said CEO and Co-Founder Nick Mercadante. “We can immediately take some of the burden off of emergency departments and walk-in centers that anticipate being overwhelmed by COVID-19 patients. By increasing availability to our partner portal, we hope more facilities take advantage of our ability to immediately triage patients into effective evidence-based treatment so they can free up staff and resources for COVID-19 care.”

Streaming tools provider Genvid raises $6M to ‘sell the virtual equivalent of front row seats’

Sam Desatoff, March 17, 2020 12:54 PM

Genvid’s total funding has reached $53 million. Interactive streaming has a major future, according to DFC analyst David Cole.

Interactive streaming tools provider Genvid Technologies has raised $6 million in Series B funding, adding to the $27 million raised in November. Investors include a varied list of companies, including Huya, NTT Docomo Ventures, and Samsung Ventures. In total, Genvid has received $33 million in Series B funding, and $53 million in total.

“The most interesting thing about this funding was the diversity and level of the investors,” David Cole, analyst at DFC Intelligence, told GameDaily. “The Twitch of China, the broadband provider of Japan, and the consumer electronics giant of South Korea. That was impressive.” 

Genvid provides a suite of tools that allows viewers of livestreams to interact with the game they’re watching. By downloading Genvid’s software development kit (SDK), developers can integrate it into their games and let viewers buy into an interactive experience. For a fee, users can gain access to free-moving in-game cameras among other interactive benefits.

Cole said that Genvid appeals to investors because it’s focused on a new way to monetize the viewership of game streams.

“[Genvid is] focused on a new way to monetize an audience that is not being monetized,” he explained. “If you think of a sport like baseball, basketball, or soccer, you have a few people who play it professionally, you have significantly more that play it on a casual basis, but you have way more that simply watch others play the sport. Money is made based on how many people watch the sport, not how many people actually play it. In the U.S., football is the most popular sport but probably the one least played by viewers. If the same mechanic can be true for games it will increase revenue.”

In this way, Genvid has the potential to allow devs and publishers to tap into a brand new source of revenue. Cole likened it to how advertisers flocked to esports as that market has grown throughout the years.

“The idea is that Genvid provides technology that allows developers to enhance the viewer experience,” Cole said. “That can be from custom camera views, detailed stats, cheering specific players or teams or more. Of course, there is potential to charge viewers for those activities. This makes esports about much more than just advertising and sponsorship. You can sell the virtual equivalent of front row seats.”

For Cole, interactivity in streaming has a great deal of growth potential, but it’s up to developers to figure out how to attract users.

“Genvid isn’t a service but instead a technology that developers can implement as they see fit. Of course, it will take a great deal of experimentation to figure out what works. Interactive streaming I think has a major future, more so in coming years as publishers work out how best it is implemented,” he said.

Given the effects of the COVID-19 pandemic and global quarantine efforts, now is an interesting time for the livestreaming landscape. Cole expects that the general streaming audience will indeed see short-term growth during the scare, but it could lead to some far reaching trends.

“As for current quarantine issues, I think it is more short-term,” Cole predicted. “There should be a spike in streaming with levels going back down as things return to normal. However, it is the type of spike that gets more people involved in streaming and thus leads to long-term growth.”

Doron Nir, CEO of streaming tools provider StreamElements, echoed this sentiment.

“The livestreaming and content creation space is going to be hotter than ever based on its current momentum,” Nir told GameDaily. “A bi-product of this calamitous situation that the world is currently facing is the power of livestreamed entertainment has taken center stage.”

Right now, there are five upcoming games that will support the integration of Genvid’s tools: Deadhaus SonataIn the BlackRetroitDemolition Robots KKand Don Swagger.Moving forward, it will be interesting to track the technology’s adoption into the greater streaming landscape. There’s no guarantee that viewers will take to such a product, but where there’s a chance to monetize something, you can bet large corporations will at least make an effort to capitalize. 

Nasdaq Acquires Institutional Investment Fintech Firm Solovis

Solovis will pair with eVestment to deliver investment data, portfolio analytics and monitoring across public and private markets

March 09, 2020 08:30 ET Source: Nasdaq, Inc.

ATLANTA, March 09, 2020 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) announced today the acquisition of Solovis, a privately-held financial technology company offering multi-asset class portfolio management, analytics and reporting tools across public and private markets. Solovis solutions will be available through Nasdaq’s eVestment group and broaden eVestment’s capabilities with portfolio analysis and monitoring for institutional investors and consultants.

“Nasdaq’s mission is to provide transparency and data to the financial world, all through modern technology,” said Lauren Dillard, Executive Vice President and head of Nasdaq’s Global information Services Group. “The combination of eVestment and Solovis bolsters our capabilities to serve the investment community. Together, they create a global leader of proprietary content, insights and portfolio analytics.”

Solovis gives sophisticated investors a unified line of sight into their portfolios, performance and risk across asset classes. For the 600+ institutional investors that rely on eVestment today for manager screening, Solovis provides complementary power for ongoing portfolio management. 

“Combined, we bring tremendous decision-making power to our investor clients, pre- and post-investment, across public and private markets,” said eVestment co-head Jerrod Stoller.

“We founded Solovis on the commitment to help asset allocators make better investment decisions through robust data and analytics,” said Solovis co-founder and CEO Josh Smith. “Our mission aligns seamlessly with eVestment’s and makes us well-positioned to capture the opportunities inherent in the evolving global markets landscape. We are excited to join the Nasdaq family through this acquisition.”

Solovis co-founders Smith and Caleb Doise and the rest of the company will remain in place and continue to operate out of offices in Dallas; Charlottesville, Virginia; and, San Francisco.

Terms of the deal were not disclosed, but this investment is consistent with both Nasdaq’s strategy to maximize opportunities as a technology and analytics provider to capital markets, as well as its capital deployment and return on investment capital objectives.

About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

About eVestment
eVestment, a Nasdaq company, provides institutional investment data, analytics and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through our platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection and monitoring, as well as intensive portfolio and risk analysis. eVestment brings transparency and efficiency to the global institutional market, equipping managers, investors and consultants to make data-driven decisions, deploy their resources more productively and ultimately realize better outcomes.

About Solovis
Solovis is leading fintech innovation for institutional investors with a powerful cloud-based platform for multi-asset class portfolio management, reporting and analytics – uniquely designed for the limited partner community. Endowments, foundations, pensions, OCIOs and family offices leverage Solovis to transform how they collect and aggregate investment data, analyze portfolio performance, model and predict future outcomes and share meaningful portfolio insights with key stakeholders. The Solovis institutional investment management technology platform enables detailed analysis and dynamic data modeling across multiple portfolios and pools of capital for actionable, transparent insights that empower both operations and investment teams.

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