Bicycle Health reaches profitability, raised $16.5M

BOSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Bicycle Health, the nation’s largest provider of virtual opioid use disorder (OUD) treatment, raised $16.5M in funding led by existing investor Questa Capital, with participation from all other existing investors including SignalFire, Frist Cressey Ventures, City Light Capital, InterAlpen Partners, Valeo Ventures, and Hustle Fund, as well as new investor JSL Health.

• Bicycle Health is a Boston-based company that offers virtual opioid use disorder treatment, including medication-assisted therapeutic options like Suboxone. Patients can schedule calls and virtual appointments to develop care plans, and also have access to health coaching and online support groups.
• Bicycle Health reached profitability in Q4 2024 and appointed Manu Kuppalli as CFO and Andy Thomas as COO in December.
• "Our mission has always been to help as many people as possible access the treatment they need to achieve long-term recovery," said Ankit Gupta, founder and CEO of Bicycle Health. "Our virtual care model is proven to keep patients in treatment longer, reduce overdose rates, and improve access to treatment for people who need it."
• Read More Here: https://www.globenewswire.com/news-release/2025/01/29/3017521/0/en/Bicycle-Health-reached-profitability-as-it-raised-16-5-million-to-scale-virtual-opioid-use-disorder-treatment-to-more-patients-nationally.html