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Sober Sidekick by Empathy Health Technologies secures $2.8 million in seed funding
Friday, October 4, 2024
BENTONVILLE, Ark., Oct. 3, 2024 /PRNewswire/ -- On a mission to create an epic wave of comeback stories and transform the recovery landscape, Empathy Health Technologies secured approximately $2.8M in seed funding to expand the impact of their digital health app, Sober Sidekick.
The Sober Sidekick app, designed to support individuals on their recovery journey, has quickly become a prominent resource in the health tech community, reaching nearly 500,000 downloads. With close to 1,000 new users joining daily, Sober Sidekick is now a leading platform for those seeking addiction and recovery support, consistently ranking at the top in its category.
Currently, 40 million adults in the U.S. are affected by substance use disorder, yet only 1 in 7 receive treatment annually. The financial burden on the healthcare system is substantial, with treatment costs exceeding $50 billion annually and one-year sobriety success rates remaining in the low single digits. Sober Sidekick is addressing this gap by fostering a supportive community for individuals managing their recovery.
Founder and CEO Chris Thompson, who launched Sober Sidekick in 2019 to meet his own recovery needs, has since dedicated the platform to empowering thousands, and potentially millions, to share their comeback stories. "I am alive because the right people showed up for me at my most critical moments. They were not paid professionals, but regular people who overcame something similar. I am one of the lucky ones, and Sober Sidekick exists to create a world where connecting with the right people at the right time is no longer up to chance." said Thompson. "Relapse, overdoses, and suicides typically do not happen in clinics or therapy sessions, they happen when people are alone in their darkest moments. Sober Sidekick exists to be a light in their darkest moments as they overcome generational curses to create their epic comeback stories of recovery."
The recent funding round, which includes investments from HealthX Ventures, Nina Capital, Ikigai Growth Partners, 46 Ventures, The Venture Center, High Street Equity Partners, and Suncoast Ventures, along with angel investors, will enable Sober Sidekick to scale operations and deepen its engagement with the healthcare community. Notably, Sober Sidekick has recently closed two pilots with one of the largest insurance providers globally.
Major health plans and national providers are among the early adopters of the Sober Sidekick solution, recognizing its potential to enhance patient outcomes and reduce healthcare costs associated with relapse. Sober Sidekick is dedicated to expanding its resources to meet users wherever they are on their recovery journey, ensuring they have access to support whenever they are ready to seek it.
Additionally, a third-party study has shown that the app reduces reported relapse rates by 48% when an individual has at least one engagement on the platform. With its wealth of user data, Sober Sidekick can predict reported relapses with over 90% accuracy, allowing for timely interventions when appropriate.
With this investment, Sober Sidekick aims to support its growing user base and expand its impact in the healthcare sector, providing vital support and resources for those in recovery.
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SOURCE Sober Sidekick
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