Accelerator Alumnus Quit Genius raises $11 million in funding
Accelerator Alumnus Quit Genius has announced that it’s raised $11 million in Series A funding.
Quit Genius was part of the DigitalHealth.London Accelerator 2017/18 cohort and is a mobile app that uses Cognitive Behavioural Therapy (CBT) to change thought patterns around smoking – the psychological side to the addiction which can so often be neglected. The support is gamified and delivered through animated videos, interactive exercises and audio sessions.
The $11 million investment comes as the company plans to expand its therapeutic programmes beyond cigarette and vaping addition to include alcohol and substance abuse as well. The team also wants to increase its presence in the US to help combat the opioid ‘epidemic’.
Yusuf Sherwani, CEO and Co-founder of Quit Genius, said: “Since our last funding round 18 months ago, Quit Genius has grown rapidly.
“Employers are tired of the status quo and the broken incentives that exist in a traditional “fee-for-service” model of healthcare. By turning this model on its head and charging for value-delivered, we are fast becoming the #1 digital therapeutic program for addictions in the employer space.”