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AbilTo closes USD12m in Series C funding led by HLM Venture Partners

AbilTo, a provider of behavioural change programs proven to improve medical health and lower cost for high-cost medical populations, today announced that it has closed a USD12million Series C round of financing. 

The new funding will allow the Company to accelerate the deployment of engagement, care delivery and infrastructure capabilities. HLM Venture Partners (HLM) led the round, and Yumin Choi, Partner, HLM, has joined the company's board of directors. Previous investors BlueCross BlueShield Venture Partners, .406 Ventures and Sandbox Industries/ also participated in the financing.

"We were fortunate to have several high-quality venture capital firms interested in our Series C, but HLM's 30-year track record of healthcare investments and their reputation for leadership were simply unbeatable," says Michael Laskoff, CEO of AbilTo. "Yumin's energy, knowledge and commitment will be an excellent addition to an already outstanding board."

AbilTo was founded in 2008 to leverage emerging technology to deliver proven behavioral change therapy for the benefit of large medical populations, including cardiac patients, new mothers and those suffering from diabetes, as well as individuals suffering from depression/anxiety and chronic pain. Today, AbilTo offers 16 programs – delivered by telephone or the Internet. Earlier this year, AbilTo and Aetna co-authored an article in The American Journal of Managed Care (AJMC) showing substantial reductions in re-hospitalisation rates among heart patients graduating from AbilTo's cardiac program. 

"HLM has been closely following the space for some time. AbilTo is recognised as the leader in the field of remote behavioural health," says Choi. "The Company has already achieved national scale, best-in-class engagement rates and proven clinical results; it is poised for enormous growth in the coming months."

"HLM has an exceptional track record in healthcare investing and a strong reputation for helping its portfolio companies to leverage its longstanding relationships in the space," said Liam Donohue, Partner, .406 Ventures. "It's a pleasure to welcome Yumin to the board."

Added Tom Hawes, Managing Director, Sandbox Industries, says: ”Sandbox and HLM have invested together in the past, and I am pleased to be doing so again. AbilTo is driving meaningful change in healthcare, and HLM's involvement will help the company to do that even faster."

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