The opioid crisis was a sad hallmark of my years working for the Baker Administration. In a time of extreme partisanship at the federal level, this was one area where public policy, civil discourse, and private enterprise seemed aligned and sufficiently motivated to find a solution. What we learned, however, is that dollars and access only go so far in combatting a disease that knows no so specific demographic. Instead, it's apparent that a battery of tools is needed to combat and prevent addiction--ranging from strong safety nets, to novel non-addictive pain therapies, and better technology. Introducing Marigold Health. Shrenik Jain, Ravi Shah, Tracey Cohen, MD, FASAM and team have built a proprietary NLP-based platform that--most significantly--improves the lives of those suffering from SUD/SMI. One customer we spoke with noted, "We needed a unique treatment intervention that had supportive research, fit into a CMS established model with a recognized service code, and that would provide positive clinical outcomes in an efficacious and fiscally responsible manner”. Another plainly said: "Marigold is our best hope to reach into the lives and help those who many have already given up on." Honored to join Bill Evans, Sean Day, and the entire syndicate in doing our part to scale a tool we believe will become essential in the fight against addiction. Marigold Health Innospark Ventures Rock Health KdT Ventures Matt Fates Lily Zarrella Venkat Srinivasan
Innospark is thrilled to announce our investment in Marigold Health's $11M Series A. The round was co-led by Rock Health, with investments from Commonwealth Care Alliance, WaveMaker360, Stand Together Ventures Lab, Epsilon Health Investors, LLC, Koa Labs, VNS Health and KdT Ventures. Marigold offers an anonymous peer support network for individuals struggling with mental health and substance use disorder (SUD). Their AI powered platform combines one-on-one coaching with certified peer specialists and 24/7 access to text-based support groups. Why we're excited: 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 𝗔𝗜 𝗳𝗼𝗿 𝗴𝗼𝗼𝗱: Their app utilizes natural language processing to identify individuals needing additional support for issues like housing, food insecurity, or SSDI applications. 𝗙𝗼𝗰𝘂𝘀𝗲𝗱 𝗼𝗻 𝗮𝗰𝗰𝗲𝘀𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆: Marigold partners with providers and payers, including Medicaid and Dual Eligible plans covering medically complex and vulnerable populations, to ensure their program reaches those who most need support. 𝗘𝘃𝗶𝗱𝗲𝗻𝗰𝗲-𝗯𝗮𝘀𝗲𝗱 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵: Peer support has been recognized by the Centers for Medicare and Medicaid Services (CMS) as an effective intervention for SUD treatment and recovery. This funding will allow Marigold to further develop their technology, expand their reach beyond the current geographies, and ultimately help more people on their journey to recovery. Congratulations to Shrenik Jain and the entire Marigold team on this raise. Check out Erin Brodwin's exclusive piece in Axios here: https://lnkd.in/e9CUwH2p
Health Tech Investor | 4X Founder | Teaching Healthcare Ventures @MIT @HMS @UCLA from Bali, Indonesia + Cambridge, MA
4wWelcome to the team, Mark and Innospark! Marigold and Shrenik Jain are showing us all the power of peer support in one of the toughest corners of healthcare.