This Series B round of funding for the startup was led by Cigna Ventures and 7wireVentures, with participation from Longitude Capital, Kaiser Permanente Ventures, F-Prime Capital, Eight Roads Capital, and Health Enterprise Partners. It brings the total funding of NOCD to $84M.
NOCD – Company Overview
NOCD is the world’s leading provider of treatment for obsessive-compulsive disorder (OCD) and Community-Driven Therapy. Founded in 2018, the company aims to help get proper diagnosis and treatment to 180 million people suffering from OCD.
According to NOCD, it takes an average of 17 years for people with OCD to get proper treatment due to high costs and a shortage of specialists. NOCD offers Exposure and Response Prevention (ERP) therapy, the most proven OCD treatment, and partners with insurance plans to make it affordable. Inside the NOCD platform, patients can do live video sessions with a licensed ERP therapist, and get support between sessions from self-help tools and peer communities.
Stephen Smith – NOCD Founder and CEO
NOCD founder, Stephen Smith is himself an OCD patient. It is his own experience in the search for a diagnosis and effective treatment, that has driven him to start NOCD. Listen to the interview with Stephen Smith by Alex Wess from The Pulse by Wharton Digital Health below:
NOCD – Results so far
According to the research data, the Virtual ERP at NOCD Therapy has demonstrated clinically significant outcomes, including a 35% reduction in OCD symptom severity and an over 40% reduction in anxiety, stress, and depression symptoms.
NOCD has been successful in its coverage expansion, it is now available in all 50 States of USA and in the United Kingdom. In the US it is working with main insurance plans. The company assesses, that 2 of 3 US patients would have the service covered.
NOCD has over 300 ERP therapists and is providing more than 20,000 virtual therapy sessions per month. It also offers access to the largest online OCD community with over 100,000 community member engagements per month.