Birches Health received a fresh injection of capital, allowing the behavioral healthcare company to scale infrastructure and secure partnerships nationwide.
The provider of specialized treatment for gambling addiction announced the closing of seed and Series A funding rounds worth a combined $20 million. The rounds both received contributions from global investment firms. Birches Health’s seed funding round was led by General Catalyst and included Will Ventures, California-based VC firm Haystack, and defy.vc. The seed round was closed in 2023. The Series A, closed in August, was led by AlleyCorp with contributions from Birches Health’s exiting investors.
“Gambling addiction is so often seen as a personal failing or a financial issue rather than the behavioral addiction that it is,” said Birches Health board member Dr. Martin Rosenzweig. “Birches has developed a much-needed evidence-based clinical solution with a unique program acuity matched to the needs of the individual in the comfort of their home, offering a viable path to recovery.”
The investments in Birches Health will enable the healthcare company to expand its network of partners while strengthening its efforts to align its services with insurance policy plans nationwide. The funding rounds will also support partnerships between state health departments and Birches Health. The capital will not only support Birches Health’s gambling addiction services but will also back video game, sex and internet addiction treatment.
“The U.S. is facing a looming gambling addiction crisis,” said Birches Health CEO Elliott Rapaport. “By integrating with leading insurance companies and state Departments of Health, we are proving that access to specialized care for those struggling with gambling, gaming, sex, pornography, and internet addiction should be available to all.”
WagerWire’s parent taps Birches Health as a partner
Birches Health offers addiction treatment in all 50 states and recently teamed up with the owner of sports betting marketplace WagerWire to expand the reach of its services.
Wire Industries partnered with Birches Health in January to promote responsible gaming and deliver educational resources and tools to bettors across America. Birches and Wire Industries are collaborating to create a collection of clinical materials and will also create social media content to spread awareness of the RG resources the two entities provide. Wire Industries will also host Birches Health clinicians on online audio platforms.
Wager Industries will also leverage AI to integrate RG tools into the WagerWire platform. In addition to Wire Industries, Birches Health is also a partner of Delaware North.
