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AbilTo Receives $3M Series A Funding

2013-05-14
NEW YORK, NY, Company that delivers proven behavioral health programs to help adults overcome mild and moderate depression associated with major medical events, announced today the completion of a $3 million round of Series A financing.
AbilTo, Inc., a company that delivers proven behavioral health programs to help adults overcome mild and moderate depression associated with major medical events, announced today the completion of a $3 million round of Series A financing to fund the expansion of the Company's proprietary programs and technology platform. The financing round was led by .406 Ventures. AbilTo works through health plans and employers to provide remotely delivered behavioral health programs via phone or secure video link. Current offerings address depression associated with cardiac events, diabetes, chronic pain, breast cancer diagnosis and childbirth.

"We are very excited to be partnering with AbilTo. The company's combination of great outcomes for patients and meaningful savings for health plans and employers is the magic combination that we seek when investing in healthcare technology companies." said Liam Donohue, Co-Founder and General Partner of .406 Ventures.

Each AbilTo program is tailored to the unique challenges caused by a particular medical event and helps a patient learn new skills that positively impact mental and medical health over the course of eight-weeks. In 2011, AbilTo began collaborating with Aetna, starting with the Cardiac Health Forum to improve patient outcomes after major heart-related events.

"In the two years since we implemented AbilTo's approach, participating Aetna members have experienced, on average, a 70-80% reduction in depression. Today, we offer six AbilTo programs and are pleased that so many of our plan sponsors are choosing to offer them to their employees," said William Gillis, Psy.D., Head of Behavioral Health Program Design and Product Support, Aetna.

"With the support of .406 Ventures, we are well positioned to expand our provider network, enhance our platform capabilities and increase our program offerings, allowing us to reach additional populations who can benefit from AbilTo's unique approach" said Michael Laskoff, CEO, AbilTo.

About AbilTo

AbilTo, a privately held company based in New York, NY, delivers proven protocols to help adults overcome issues caused by prevalent behavioral health disorders and life transitions. The AbilTo platform delivers fixed-duration programs with measurable behavioral health improvements and reduced health expenditures. All services are delivered remotely, using a secure video link or telephone. For more information, please visit www.abilto.com.

About .406 Ventures

About .406 Ventures: .406 Ventures is an early-stage venture capital firm that invests in innovative information technology and services companies founded by the finest entrepreneurs. .406 Ventures is led by a veteran team of industry entrepreneurs, operators and investors who apply real-world experience, deep industry knowledge and networks, and strong company-building skills to create value for entrepreneurs and investing partners. .406 Ventures is typically the lead, first institutional investor, in early-stage and de novo investments in market-changing IT security and infrastructure, with a particular focus on healthcare IT, Big Data, cloud and mobile software companies.
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