Chicago-based behavioral health technology company NOCD, a leading OCD therapy platform, has raised $34 million in its latest funding round, reinforcing its mission to improve access to care for individuals living with obsessive-compulsive disorder (OCD). Since its founding in 2018, NOCD has raised a total of approximately $84 million, including a $33 million round in September 2021, according to Crunchbase.
Funding to Expand Services and Awareness
The company plans to use this funding to expand its therapist workforce, increase public awareness about OCD, and enhance its outcomes data collection and analysis. By scaling its clinical operations and leveraging technology, NOCD is strengthening its position as a leading OCD therapy platform, connecting patients with specialized therapists across the United States.
Evidence-Based Therapy for OCD
NOCD specializes in exposure and response prevention (ERP) therapy, the gold-standard treatment for OCD. According to the National Institute of Mental Health, OCD affects approximately 2.3% of U.S. adults over their lifetimes, which is roughly 7.6 million people. Despite its prevalence, many individuals go untreated due to stigma, lack of awareness, or limited access to specialized care. NOCD’s OCD therapy platform helps bridge this gap by offering convenient and effective virtual treatment options.
Strategic Investors and Partnerships
The latest funding round was co-led by Cigna Ventures and 7wireVentures, with participation from existing investors Kaiser Permanente Ventures, F-Prime Capital, Eight Roads Capital, and Health Enterprise Partners, as well as new investor Longitude Capital. NOCD also partners with Cigna Corp., providing virtual services to its members and expanding the reach of its OCD therapy platform nationwide.
Clinical Impact and Reach
Stephen Smith, co-founder and CEO of NOCD, emphasized the company’s commitment to high-quality care: “We remain focused on delivering best-in-class clinical outcomes and a frictionless member experience. We know that there’s a clear opportunity to scale our impact exponentially.” Currently, NOCD operates in all 50 states, completes roughly 250,000 therapy sessions annually, and reports an average 35% reduction in OCD symptom severity among members—an impressive clinical outcome demonstrating the effectiveness of its OCD therapy platform.
Growing Demand for Digital Behavioral Health
Behavioral health technology platforms like NOCD have become increasingly popular with major health care payors, who value the ease of access and cost efficiencies they provide. By leveraging a data-driven approach and virtual care capabilities, NOCD’s OCD therapy platform makes effective treatment more accessible to people who may have struggled to find care in traditional settings.
Investment Trends and Market Perspective
Despite the growing attention from payors, overall investment in behavioral health has slowed. A report by Rock Health found that funding for behavioral health companies dropped 56% last year compared with the previous year. Still, strategic investors continue to recognize the long-term potential of digital mental health solutions like NOCD, which combine clinical expertise with technology to deliver measurable outcomes.
Leadership Insights
Alyssa Jaffee, partner at 7wireVentures, commented: “The status quo in mental health care has been failing patients for too long. As the market leader in driving more convenient, affordable, and effective treatment for OCD and related conditions, NOCD is a prime example of the kind of innovation needed to solve some of the most complex issues in health care.”
Expanding National Impact
With this funding, NOCD is set to broaden its national impact by scaling therapist capacity, enhancing data collection, and increasing public awareness of OCD. As a leading OCD therapy platform, NOCD demonstrates how digital solutions can improve accessibility, clinical outcomes, and overall patient experience for individuals living with OCD.
Transforming Mental Health Care
By combining innovative technology with evidence-based care, NOCD’s OCD therapy platform is helping to reshape the mental health landscape, making effective treatment available to millions of Americans who might otherwise go without help.
