Marigold Health Raises $11M Series A

Marigold Health, a Boston, MA-based tech-enabled peer recovery company, closed an $11m Series A funding.

The round was led by Rock Health and Innospark Ventures with participation from the Commonwealth Care Alliance (CCA), Wavemaker360, Stand Together Ventures Lab, Epsilon Health Investors, Koa Labs, VNS Health Plan and KdT Ventures.

Led by Shrenik Jain, Founder and CEO, Marigold Health is addressing a national shortage of Substance use disorder (SUD) care by expanding access to high-quality peer support. Their proprietary peer support program combines one-on-one coaching from a certified peer specialist with 24/7 access to text-based support groups in the app, which is integrated with natural language processing that flags health needs expressed in chats and triggers additional support when needed.

Founded in 2016, the company has engaged thousands of members and validated novel peer-peer interventions in multiple federally-funded studies. Partners are a diverse network of primary care clinics, substance use treatment providers, hospital systems, and health insurance plans.

Marigold Health is currently prioritizing partnerships with Medicaid and duals health plans covering medically complex or vulnerable populations.