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NOCD deepens relationship with Cigna through a new $34 million financing round, furthering both organizations’ commitment to ending the global OCD crisis
NOCD, a specialty telehealth platform that identifies and manages people with obsessive-compulsive disorder (“OCD”) through personalized and specialized care approaches, announced a $34M financing round co-led by Cigna Ventures and 7wireVentures, with participation from new investor Longitude Capital and existing investors Kaiser Permanente Ventures, F-Prime Capital, Eight Roads Capital, and Health Enterprise Partners. The company’s deepened strategic partnership with Cigna will help expand NOCD’s specialty therapist network, further redefine public perception of OCD (alongside #KnowOCD partner Howie Mandel), and enhance NOCD’s leading analytics and outcomes capabilities with payers seeking to provide their OCD population with more robust offerings.
“We couldn’t be more excited about our relationship with Cigna,” said Stephen Smith, Co-Founder and Chief Executive Officer of NOCD. “We remain focused on delivering best-in-class clinical outcomes and a frictionless member experience. There’s a clear opportunity to scale our impact exponentially.”
Founded in 2017, NOCD was born out of Founder and CEO Stephen Smith’s personal battle with OCD. After being misdiagnosed several times by healthcare providers, he eventually stumbled upon an explanation for his condition online. Stephen developed the company to provide the kinds of answers and therapies that were difficult for him to find during his own journey. Since launching, NOCD has scaled the business across all 50 states and internationally, delivers more than 250K therapy sessions each year, and is covering over 156M lives through the company’s health plan contracts. NOCD’s continued success with healthcare stakeholders and the consumers they serve is due in part to the effective and convenient nature of NOCD’s virtual-first Exposure and Response Prevention (ERP) Therapy service. Today, NOCD drives on average a 35% reduction in OCD symptom severity. For those living with OCD, such an impact represents a transformative change, one that helps many finally get back to life.
“Cigna Ventures is focused on working with companies who are bringing forward innovative solutions that can more effectively and efficiently solve some of health care’s biggest challenges,” said Craig Cimini, Head of Cigna Ventures. “NOCD plays a critical role in the behavioral health ecosystem with a proven ability to identify patients in need and seamlessly connect them to evidence-based therapy and tailored resources.”
NOCD partners with payers to support their members in establishing the right diagnosis and receiving the right care that appropriately addresses their condition. Through the platform, members can quickly access a national network of licensed therapists that specialize in Exposure and Response Prevention (ERP) the “gold standard” for OCD treatment. Additionally, members are provided with an always-on community and social network as well as self-help tools such as ERP exercises, and other educational content. Ultimately, the platform helps people reclaim their lives by providing clinically proven treatments, removing barriers to care, and reducing the stigma associated with OCD.
Congratulations to Chief Executive Officer and Founder, Stephen Smith and the entire NOCD team for this momentous achievement and the next chapter of growth for the business!