PursueCare, a leader in virtual substance use disorder (SUD) treatment, is making major strides in reshaping how addiction care is delivered. The Middletown, Connecticut-based company announced it has raised $20 million in a Series B funding round led by T.Rx Capital and Yamaha Motor Ventures, with additional support from Seyen Capital and OCA Ventures. This funding will fuel PursueCare’s mission to enhance its offerings in virtual substance use disorder treatment, including medication-assisted treatment (MAT), psychiatric care, therapy, and case management.
The funding is also pivotal in the company’s acquisition of three innovative digital therapeutics developed by Pear Therapeutics: reSET, reSET-O, and reSET-A. These software-based tools were originally designed to support the treatment of general SUD, opioid use disorder (OUD), and alcohol use disorder (AUD), respectively. After Pear Therapeutics filed for bankruptcy in April 2023, PursueCare seized the opportunity to acquire these products and integrate them into its virtual substance use disorder treatment infrastructure.
Filling the Gap in Digital Addiction Care
Prior to Pear’s bankruptcy, PursueCare had been using these products as part of its treatment offerings. When the tools became available again, PursueCare CEO and founder Nick Mercadante recognized an opportunity to fill a critical gap for patients who had lost access to these proven resources. Mercadante explained, “We knew that we had to solve for that gap. So when the products became available, the stars aligned.”
These FDA-authorized tools provide patients with access to virtual substance use disorder treatment anytime, anywhere. They offer self-guided cognitive behavioral therapy (CBT), allowing users to engage in treatment on their own schedule. This capability is especially beneficial for individuals who may need support during off-hours—such as late-night cravings—offering instant feedback and data-driven insights for clinicians to use in making informed decisions.
The Power of Digital Therapeutics
At the core of these digital therapeutics is a 12-week curriculum, supported by a contingency management system—a proven reward-based program that encourages continued patient engagement. Patients who stick with treatment can earn rewards, and over time, this could lead to free treatment. For health plans, the products are integrated into value-based care arrangements, or can be reimbursed under existing product contracts.
Mercadante emphasized the cost-effectiveness of the newly acquired tools, saying, “For better or worse, [Pear] was the tip of the spear. We’re the benefactors of all their hard work. Because we weren’t the ones that had to work so hard and spend so much money to innovate and get these out into the market, we can provide them at a very reduced cost.”
Scaling Services and Expanding Access
PursueCare has already treated roughly 10,000 patients this year and is working to scale its services with the funding. The company plans to expand access to virtual substance use disorder treatment, including MAT, therapy, psychiatric support, and comprehensive case management. This expansion will allow PursueCare to meet the growing demand for addiction treatment while offering care that is more accessible and affordable than traditional in-person models.
As part of its strategy, PursueCare is also focused on expanding partnerships with health systems and specialty providers, such as OB-GYNs who care for pregnant patients with opioid use disorder. By collaborating with these healthcare providers, PursueCare can integrate virtual substance use disorder treatment into broader patient care. This collaboration helps to ensure continuity of care and better coordination between behavioral health and other medical services.
Creating Flexible Value-Based Care Arrangements
The company is also creating flexible value-based care arrangements with managed Medicaid and commercial payers. These models may include bundled case rates, per-member-per-month payments, and performance-based incentives. PursueCare is positioning itself as a key partner in addiction care by demonstrating that its virtual substance use disorder treatment services can drive cost savings for health plans while improving patient outcomes.
Looking Ahead: A New Era for Digital Addiction Treatment
With the acquisition of Pear Therapeutics’ digital tools and the infusion of Series B funding, PursueCare is poised to continue its expansion. The company is committed to providing effective, affordable, and accessible care to individuals struggling with substance use disorders. By leveraging digital tools and value-based care models, PursueCare is transforming how addiction treatment is delivered in the digital age.
As the behavioral health field seeks scalable solutions to the addiction crisis, PursueCare’s innovative approach to virtual substance use disorder treatment offers hope for better outcomes and a more sustainable model for addiction care.
