Optum Ventures, a subsidiary of healthcare and pharmacy services provider Optum, has co-led an $18.1m series A round for US-based autism treatment developer Springtide with healthcare-focused investment firm Deerfield Management.
Spun off from healthcare innovation platform Redesign Health earlier this year, Springtide offers treatment plans for children with developmental disorders such as autism.
The service incorporates therapy and technology-based treatments to improve children’s ability in areas including speech and social skills. The funding will help the startup target new markets and expand its offering to meet needs like remote care and parent engagement.
Optum Ventures has formed a strategic partnership with Springtide aimed at leveraging its healthcare and analytics assets, and will take a seat on its board of directors, as will Deerfield Management.
Laura Veroneau, partner at Optum Ventures, said: “Springtide’s proven approach to treating children with [autism spectrum disorder] and developmental delays addresses a significant market need to better connect the health system to improve experiences and health outcomes.
“We believe Springtide is uniquely positioned to deliver innovative change to autism care that will help families and children.”