CVS Health Ventures led a $20 million series A investment round for SpectrumAI, a company working to create digital tools for clinicians treating autism with applied behavior analysis.
The company will use the financing to accelerate the adoption of Twyll, its EHR system for applied behavioral analysis and Patterns, its analytics platform, according to a March 16 SpectrumAI news release.
Applied behavior analysis is an intensive, 25- to 40-hour-per-week therapy process; the company said it hopes to modernize it through digital tools.
"Data collection and documentation is fundamental to creating value-based contracting for the ABA industry and can help ensure that patients get the correct level of support they need," Vijay Patel, managing partner at CVS Health Ventures, said in the release. "Our investment can help support SpectrumAi's use of disruptive technology and value-based care to address ABA's significant data void."