AXA Strategic Ventures, Canaan Partners and .406 Ventures Invest $5 Million in Reinventing Treatment for Heavy Drinking
Annum Health Secures Seed Round Funding from Blue-Chip Syndicate
New York, NY (November 8, 2016)—Annum Health announced today that it has raised $5 million in capital to build a superior, tech-enabled alternative to rehab for heavy drinking. Led by AXA Strategic Ventures, with significant support from Canaan Partners and .406 Ventures, this financing will allow Annum to: recruit and retain an experienced team; build a complete treatment solution— including proprietary protocols, a customized electronic health record, mobile app and call center; conduct testing and secure strategic partnerships with large insurers and employers.
“We are so deeply honored to have the backing of such an impressive and visionary group of investors,” said Michael Laskoff, Annum’s CEO and co-founder. “With their support, Annum Health will build and deliver a full-spectrum solution to the millions of people who struggle with heavy drinking but currently lack a safe, affordable and effective solution.”
Annum Health was founded this past January by Mr. Laskoff, the founder and former CEO of tele-behavioral health company AbleTo, Lauren Wolfe, PsyD, a licensed clinical psychologist, and Mark Willenbring, MD, a psychiatrist who previously led the Division of Treatment and Recovery Research at the National Institute on Alcohol Abuse and Alcoholism at the National Institutes of Health.
Despite a proliferation of rehab facilities across the United States, heavy drinking remains an untreated epidemic in America. One in four adults binge drink and 7 percent of U.S. adults—14.6 million people—binge drink five or more days in a single month. The impact of heavy drinking is far-reaching. It can lead to a number of negative health effects for individuals; more than 10 percent of children in the U.S. live with a parent who struggles with drinking and high-risk drinking takes an $81.5 billion toll on workplace performance annually.
By transforming the treatment experience, Annum will eliminate profound barriers to care that exist today and, therefore, make treatment far more accessible and desirable for the millions of people who are in need. Learn more at www.annum.com.
Annum delivers the superior alternative to traditional rehab for heavy drinking. Co-founded by proven leaders in health care, technology and alcohol treatment, Annum transforms the treatment experience while eliminating profound barriers to care — high cost, personal and professional disruption, and stigma. At a fraction of the price of inpatient care at a traditional rehab facility, Annum’s tech-enabled solution fully integrates therapy, coaching, medication and support over the course of up to a year to help people reach their individual goals.