LOS ALTOS, Calif.– Lucid Lane, the telehealth solution that empowers people with medication dependence and substance-use disorders to live better, healthier lives, today announced that it has raised $16 million in Series A funding. The round was led by Accel with participation from Battery Ventures, AME Cloud Ventures, Morado Ventures and strategic angel investors. Eric Wolford, Partner at Accel, has joined the Lucid Lane board of directors.
The company also announced several product advancements, including its powerful analytics engine that delivers personalized and context-sensitive treatment and support in real time. It has also expanded its services in order to address a wider spectrum of needs.
Each year, 40 million people are prescribed opioids and benzodiazepines– often after surgery or in conjunction with cancer treatment– in order to address acute and chronic pain as well as co-occurring mental health challenges such as anxiety and depression. These medications work well for a vast majority of the population to address pain and mental health. However, about 15 million people will become persistent users of opioids and benzodiazepines. Their healthcare cost balloons significantly for the insurance health plans and self-insured employers. Lucid Lane provides its comprehensive Medication Taper Management™ service to prevent these patients from becoming persistent medication users and keep them from eventually sliding into addiction.
“Medication dependent patients desperately want help, whether it’s to overcome substance dependence, manage chronic pain or improve mental health, but few good options exist that offer the specific, personalized treatment they need,” said Adnan Asar, co-founder and CEO of Lucid Lane. “Doctors are equally frustrated because they lack the time, training and capabilities to adequately assist their patients on a daily basis, managing their care as they taper medication usage. We’ve solved these issues with our unique, comprehensive telehealth platform and by working as collaborators with physicians rather than vendors. There is never a cost for doctors, empowering them to provide the best care possible to their patients.”
