Telecommunications and internet group SoftBank’s Vision Fund 2 has led a $219m funding round for US-based paediatric autism care provider Elemy, Bloomberg reported yesterday.
Amity Ventures, Avidity Partners, Goodwater Capital, Metrodora Ventures, Premji Invest, Sound Ventures, Whale Rock Capital Management also took part in the round, which lifted the company’s valuation from $104m in October 2020 to $1.15bn, according to CEO Yury Yakubchyk.
Founded in 2019 as Sprout Therapy, Elemy has built an online business-to-business-to-consumer platform that helps care providers and families monitor and treat children with autism. It has partnerships in place with insurers and US Medicaid schemes in states including Florida, Georgia and California.
The startup had closed a $10m seed round featuring Bling Capital, Felicis Ventures and General Catalyst disclosed when it publicly launched in July 2020. Bill Ackman’s family office, Table Management, is among its earlier backers, as are Founders Fund, Headline, SignalFire and 8VC.
Andrew Zloto, a director at SoftBank Investment Advisers, the SoftBank subsidiary that manages the Vision Funds, said: “[The company] has the potential to improve the current standard of treatment for paediatric autism and deliver measurable outcomes. We have been impressed with the speed of Elemy’s growth and expansion since its launch.”
