Bicycle Health, a Boston-based digital health provider focused on treating opioid use disorder (OUD), has raised $50 million in Series B funding. This latest infusion brings the company’s total fundraising to $83 million and signals continued investor enthusiasm for telehealth solutions in addiction care. With this capital, Bicycle Health is poised to grow its national footprint, enhance its technology platform, and continue advancing access to virtual MAT for opioid use disorder.
The round was led by InterAlpen Partners, with participation from returning investors Questa Capital, Frist Cressey Ventures, and City Light Capital. Questa Capital previously led the company’s $27 million Series A round in 2022.
In a market still trying to meet overwhelming demand for accessible OUD treatment, Bicycle Health’s growth and outcomes have positioned it as a leader in the shift toward digital-first, evidence-based care.
A Mission-Driven Use of Funds: Scaling Treatment, Technology, and Research
Bicycle Health has outlined a strategic roadmap for deploying the Series B funds, with a focus on four key initiatives:
- Hiring to expand its clinical, engineering, and operations teams
- Continuing development of its virtual platform to improve patient experience and outcomes
- Forming new strategic partnerships with health systems, insurers, and public agencies
- Deepening its research and data efforts to strengthen the case for virtual MAT for opioid use disorder
In a statement accompanying the funding announcement, founder and CEO Ankit Gupta said, “Bicycle Health has proven there’s a different way to help people face their OUD. With this latest round of funding, we will continue making our virtual care platform available to even more Americans battling OUD.”
Bicycle Health currently operates in 25 states and recently expanded into Delaware. Each of those states includes a local clinical presence to meet regulatory requirements and help support continuity of care. Though the company was founded as a hybrid care provider in California, it transitioned to a fully virtual model during the COVID-19 pandemic—a move that ultimately made treatment more accessible and scalable.
15,000 Patients Served—and $1.1 Billion Saved
Bicycle Health reports that its virtual-first approach has reached more than 15,000 patients since its founding. Using telemedicine, buprenorphine-based medication-assisted treatment, and integrated behavioral health care, the company has worked to eliminate logistical, financial, and emotional barriers to treatment.
According to internal estimates, the company’s interventions have saved the U.S. healthcare system more than $1.1 billion in downstream costs related to untreated opioid use disorder. These savings include reductions in emergency room visits, hospitalizations, relapse, and criminal justice interactions.
Looking ahead, the company projects that if it continues to expand access to virtual MAT for opioid use disorder, it could help the system avoid nearly $25.9 billion in costs by 2026. These numbers help to quantify the value of telehealth models in addiction treatment—both in lives improved and resources preserved.
A Growing Crisis: Why Virtual MAT Is More Urgent Than Ever
The U.S. opioid epidemic continues to be one of the country’s most persistent and deadly public health issues. Data from the U.S. Substance Abuse and Mental Health Services Administration (SAMHSA) reveals that approximately 9.5 million Americans misused opioids in 2020. Of those, 9.3 million misused prescription pain relievers, and 902,000 used heroin.
Despite this widespread misuse, only about 798,000 individuals—around 11.2% of the 2.5 million people diagnosed with OUD—received medication-assisted treatment in the previous year.
This staggering treatment gap is part of what makes virtual MAT for opioid use disorder so compelling. Virtual care eliminates many of the logistical challenges people face when seeking help: lack of transportation, stigma, work conflicts, rural location, and long waitlists. In contrast, digital platforms like Bicycle Health allow patients to meet with providers on their own schedules, from their homes, without compromising quality of care.
“We started Bicycle Health because we knew the traditional system was failing too many people,” Gupta said. “We’ve proven that virtual care works—and now we’re focused on reaching those who still haven’t been able to access treatment.”
Regulatory Uncertainty: The Future of Virtual MAT Hangs in the Balance
While the pandemic unlocked new pathways for virtual care, it also introduced a degree of regulatory uncertainty that still hasn’t been resolved. In March 2020, the Drug Enforcement Administration (DEA) issued a temporary waiver of the in-person requirements in the Ryan Haight Act. This waiver allowed providers like Bicycle Health to prescribe controlled substances such as buprenorphine through telemedicine, without requiring an initial in-person visit.
This shift was critical to the rapid expansion of virtual MAT for opioid use disorder. Without it, many patients in rural or underserved areas might still be waiting for care.
However, the waiver was never meant to be permanent. The DEA was tasked with issuing new rules governing the remote prescribing of controlled substances, but it is now more than three years overdue in releasing them. If the agency were to end the waiver before those rules or pending legislation are enacted, MAT providers would be required to resume in-person visits, potentially reversing years of progress in accessibility.
Congress is currently weighing legislation that could help protect telehealth flexibility for mental health and substance use disorder treatment. The Senate Finance Committee has already released draft legislation with provisions that would directly affect how MAT is delivered through virtual platforms. But without final rules, the fate of virtual MAT remains uncertain.
Clinical Infrastructure: The Hybrid Roots That Keep Bicycle Compliant
Despite its virtual-first model, Bicycle Health maintains clinical infrastructure in all the states where it operates. These offices allow the company to adapt to evolving regulations while ensuring access to in-person visits when necessary. This hybrid structure is especially important given the unsettled federal stance on the long-term legality of virtual MAT for opioid use disorder.
Gupta and his leadership team have repeatedly emphasized the importance of staying ahead of compliance issues while continuing to advocate for regulatory changes that reflect current clinical best practices.
“We’re building for the long term,” said Gupta. “Our model is not only scalable—it’s clinically rigorous, patient-centered, and cost-effective. We believe it represents the future of addiction treatment in America.”
Looking Ahead: Virtual MAT as a Cornerstone of Behavioral Health
Bicycle Health’s successful funding rounds, impressive patient outcomes, and forward-thinking model are a strong signal that virtual MAT for opioid use disorder has staying power. It offers a flexible, proven approach to delivering care in one of the most underserved and high-risk areas of behavioral health.
As the company grows its reach and deepens its research, it is simultaneously shaping national conversations around digital treatment, reimbursement models, and regulatory policy. With 15,000 lives touched and billions in potential healthcare savings, Bicycle Health is helping redefine what addiction care can look like—and where it can happen.
From a Redwood City clinic to a national virtual network, the company’s evolution reflects broader changes in behavioral health delivery. And with more funding, more research, and more patients in need, the road ahead for Bicycle Health—and for virtual MAT for opioid use disorder—is only just beginning.
