evolvedMD secures $14 million to further integrate behavioral health support into primary care
evolvedMD co-founders Steve Biljan (left) and Erik Osland. The duo raised $14 million to expand operations.
Scottsdale-based evolvedMD, a MAP Strategies Group client and a market leader in delivering integrated Collaborative Care Management services in primary care, has raised a $14 million Series-A Prime round led by San Francisco-based Conductive Ventures with additional investment from FCA Venture Partners of Nashville, Healthworx in Washington, D.C., and Boston-based Tectonic Ventures and Waterline Ventures.
Since its inception in 2017, evolvedMD has disrupted the industry by fully integrating behavioral health services in modern primary care. evolvedMD clinicians are embedded within primary care practices to provide accessible, high-quality services, reduce provider burnout, and improve patient outcomes.
“There is a dire need for easy access to behavioral health care – from developing adolescents and isolated seniors to Medicare beneficiaries and private market patients. Many of us need behavioral health support for our overall well-being,” explains evolvedMD co-Founder and co-CEO Erik Osland. “With record rates of depression in the U.S., we are looking forward to extending our reach as a company to treat many more patients.”
Nearly 50 million American adults experienced a mental illness or episode in 2019, yet more than half of U.S. adults with a known mental illness do not receive treatment. In addition, over 60 percent of children and young adults with major depression do not receive any treatment. evolvedMD changes the narrative by providing patients easy access to care onsite and in person at the primary care practices they trust.
The new investment will be used to scale evolvedMD’s infrastructure and continue building the clinical delivery team. Along with expansion in Arizona and Utah, the company recently launched in Colorado and will continue to expand across the Southwest.
“We are thrilled to bring on additional capital and new investors to the company. We are looking forward to leveraging this capital to expand our care delivery footprint,” fellow co-founder and co-CEO Steve Biljan says. “We are on the path to become one of America’s most comprehensive behavioral health providers. This latest investment will enable us to execute on our prior success and vision.”
evolvedMD is currently working with leading care partners in Arizona and Utah, such as Banner Health, BlueCross BlueShield of Arizona, HonorHealth, Optum, Integrated Medical Services (IMS), Foothill Family Clinic, Ogden Clinic, Granger Medical, Premier Family Medical, and many others.
ABOUT EVOLVEDMD
Launched in 2017, evolvedMD is leading the integration of behavioral health services in modern primary care. Uniquely upfront and ongoing, our distinctive model places behavioral health specialists onsite within a practice. evolvedMD offers an economically viable and better way to integrate behavioral health that ultimately drives improved patient outcomes. evolvedMD is an Inc. 5000 fastest-growing company in America. Visit evolvedMD to learn more.