SpectrumAi:The autism care-focused startup announced it has raised up to $20 million in a Series A funding round led by CVS Health Ventures with participation from Cobalt Ventures.
Previous investors Frist Cressi, F-Prime and Autism Impact Fund also participated in the raise.
WHAT IS DOING
T:The Los Angeles-based company offers tools to help analyze quality and outcome data on applied behavior analysis (ABA), a therapy aimed at improving communication, social and learning skills in people with conditions such as autism.
SpectrumAi’s Twyll is an electronic health record for ABA data collection and documentation, and Patterns is a network analytics platform. The funds will be used to accelerate the adoption of its Twyll and Patterns offerings.
“SpectrumAi provides frontline technicians and clinicians with powerful tools to help every child achieve their optimal outcome,” SpectrumAi founder and CEO Ling Shao said in a statement. “As we lay the groundwork for the transition from fee-for-service to value-based contracting at ABA, we are honored that CVS Health Ventures, Cobalt Ventures and others have joined our mission to advance quality across the industry.” :
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About a fourth child was found to be on the autism spectrum. According to the CDC, one in six children ages 3 to 17 were diagnosed with a developmental disability between 2009 and 2017.
In June, SpectrumAi raised USD 9 million in seed funding.
Another company that focuses on ABA therapy Sprout, an autism care and treatment technology program that offers home assessments and applied behavior analysis therapy.
Amy Cardwell will provide more detail in her HIMSS23 session, The Defender Advantage: Win by using the high ground.” It is scheduled for Tuesday, April 18th from 3-4pm in the CT South Building, Level 4, Room S406 B.