Boulder Care, a leader in Digital Addiction Treatment, has successfully raised $35 million in its Series C funding round, bringing the company’s total capital raised to approximately $85 million. This milestone marks a significant step forward as Boulder continues to expand its innovative, app-based care solutions for individuals battling opioid use disorder (OUD) and alcohol use disorder (AUD). With the new funding, Boulder aims to deepen its presence in existing markets, expand into new regions, build out its clinical team, and strengthen its strategic partnerships.
CEO Stephanie Strong spoke with Addiction Treatment Business about the challenges of raising funds in the current market and the company’s vision for growth. Strong highlighted that while fundraising is challenging—especially for Digital Addiction Treatment companies focusing on Medicaid or underserved populations—this Series C round was much smoother than previous ones, signaling growing investor confidence in Boulder’s model and future.
Expanding Access to Care: Boulder’s Path Forward
Boulder Care’s approach to treating substance use disorders is revolutionary. By offering Digital Addiction Treatment via an app-based outpatient model, Boulder is able to provide flexible and accessible care that traditional in-person treatment often lacks. The company specializes in opioid use disorder (OUD) and alcohol use disorder (AUD) and offers a wide array of services, including medication for addiction treatment (MAT), therapy, and peer support.
What sets Boulder apart is its commitment to making these services accessible to a wide range of people. Boulder is 100% in-network and accepts several major insurance plans, including United Healthcare, Aetna, Cigna, and Medicare. This makes the care accessible to individuals who may not have access to traditional treatment centers or who prefer the convenience of receiving care remotely through Digital Addiction Treatment.
The new funds will enable Boulder to expand into two new states over the next 12 months, focusing on areas with expanded Medicaid programs. Boulder’s strategy is to establish a strong presence in these regions with the support of its existing partners in healthcare and community organizations. This marks a key moment for Boulder as it leverages Digital Addiction Treatment to scale its impact on a larger population.
Additionally, Boulder plans to triple its patient-facing workforce in the next year, with a focus on hiring peer recovery specialists, case workers, and leadership roles. Strong emphasized that local expertise is essential, and Boulder plans to onboard professionals who are familiar with the cultural contexts and resources available in each market it serves.
Strategic Partnerships: The Cornerstone of Boulder’s Growth
A significant part of Boulder’s success has been its ability to form deep, long-term partnerships with local providers and recovery community organizations. These partnerships are integral to Boulder’s expansion strategy, allowing it to reach more patients and ensure continuity of care.
Boulder’s partnership model also helps mitigate the risk of regulatory changes. With pandemic-era telehealth flexibilities set to expire at the end of 2024, Boulder’s relationships with local providers ensure patients continue to receive uninterrupted care. While many digital health companies may struggle as telehealth policies evolve, Boulder’s ability to collaborate with local healthcare providers strengthens its position in the market, ensuring a resilient business model even in the face of regulatory uncertainty.
Additionally, Boulder’s value-based care model has become a significant driver of the company’s growth. In recent quarters, Boulder has doubled its value-based Medicaid arrangements, with more than half of its business now coming from value-based models. Strong noted that Digital Addiction Treatment provides a cost-effective and high-quality solution for Medicaid patients, a demographic that is often underserved in traditional addiction treatment settings. The Series C funding will help Boulder continue to grow its value-based care arrangements, driving its success in new markets.
Leveraging Technology to Streamline Care Delivery
Boulder Care’s innovative use of technology is a key factor in its ability to provide efficient, accessible care. The company’s platform includes a “pop-in clinic” feature that allows patients to queue up for a clinician or peer recovery specialist in as little as 40 minutes. This feature ensures that patients receive timely care, even if they are unable to schedule an appointment in advance.
Boulder’s investment in technology doesn’t stop at access to care. The company is also focused on streamlining administrative processes to reduce clinician burnout and improve care delivery. Strong pointed out that one of the biggest challenges for addiction care providers is the heavy administrative load required to meet compliance standards. By leveraging AI and data analytics, Boulder aims to simplify these tasks and make team-based care more efficient.
With its current technology stack and plans for further improvements, Boulder is setting the stage for the future of Digital Addiction Treatment. The company aims to expand its capabilities, offering even more flexible and innovative solutions to patients while making it easier for clinicians to provide care.
The Long-Term Vision: Becoming the Most Trusted Name in Addiction Medicine
Boulder Care’s long-term vision extends far beyond simply providing addiction treatment. CEO Stephanie Strong envisions the company becoming the most trusted name in addiction medicine. Boulder’s mission is not only to help people overcome addiction but also to address the underlying causes of addiction, such as trauma, mental health issues, and social instability.
“We have the opportunity to not just treat the drug crisis but to help people recover fully—rebuild their lives, heal from trauma, and regain the skills and confidence needed to thrive,” Strong said. “It’s about more than just sobriety—it’s about empowering people to live fulfilling, healthy lives.”
By combining the power of Digital Addiction Treatment with a patient-centered, holistic approach to care, Boulder is positioning itself as a leader in the digital addiction treatment space. The company’s focus on technology, value-based care, and strategic partnerships will allow it to continue expanding its reach and helping individuals across the country access high-quality addiction care.
As Boulder grows, it is paving the way for a new era of addiction treatment that is both innovative and compassionate. By using Digital Addiction Treatment to break down barriers and offer flexible, accessible care, Boulder Care is setting a new standard for how addiction treatment can be delivered in the modern age. This is just the beginning for Boulder, and its impact on the addiction treatment field is only expected to grow as it expands its services and continues to innovate.
