Virtual speech therapy provider Expressable announced it secured $26 million in Series B funding.
HarbourVest Partners led the round with participation from Digitalis Ventures and existing investors F-Prime Capital and Lerer Hippeau.
WHAT IT DOES
The Texas-based company offers virtual care sessions for patients and families to connect with a licensed and certified speech therapist based on their needs. The platform also provides secure therapist texting services, education videos and weekly homework.
Adults and children can receive care from the platform. The service caters to several conditions, including language disorders, speech delays, aphasia, stuttering, autism spectrum disorder and other conditions.
The company will use the investment to expand its network of therapists, enhance its platform and expand its provider and health plan partnerships.
“We’re thrilled to partner with Expressable as they continue to scale their category-defining speech therapy solution for this growing market need,” Michael Guiness, principal at HarbourVest, said in a statement. “Generating better outcomes through their novel care model is a win-win for patients, payers, and providers that aligns incentives and addresses disparities in access.”
MARKET SNAPSHOT
Expressable raised $15 million in Series A funding in 2022.
Other speech therapy companies include the virtual therapy platform Great Speech, speech recognition technology company Voiceitt, and tech giants Amazon, Microsoft, Meta, Apple, and Google.
In 2022, the five tech companies, alongside nonprofit partners, announced a collaboration with the University of Illinois Urbana-Champaign to expand speech capabilities for those with disabilities via the Speech Accessibility Project.