# Wayspring

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wayspring

- Industry: Healthcare IT
- Headquarters: Nashville, US
- Website: www.wayspring.com
- Total disclosed funding: $41M
- Latest round: Series C (Feb 27, 2020)
- Investors on record: 4

## About

Based in the US, Wayspring, Inc. is a healthcare company dedicated to improving the treatment of substance use disorder (SUD) through innovative services that support individuals in their recovery journey.Wayspring, Inc. specializes in enhancing recovery services for substance use disorder (SUD). Founded in 2012 and headquartered in Nashville, US, the company has completed 7 deals and raised a total of USD 45 mn through various funding rounds. The latest round, led by CVS Health Ventures, occurred on May 21, 2024, where they secured USD 45 mn. The CEO, Carter Paine, plays a crucial role in steering the company’s mission and vision.Wayspring focuses on advancing the treatment of substance use disorder (SUD) through a comprehensive range of services aimed at enhancing the recovery journey for health plan members. Their core offerings include personalized outreach and an interdisciplinary care model that integrates physical, behavioral, and substance use care while addressing social determinants of health (SDoH), such as housing and food security. The company employs an interdisciplinary team, comprising physicians, advanced practice nurses, licensed counselors, and engagement specialists, to provide support both virtually and in-person. These services are designed to break down barriers to treatment and ensure that individuals receive the compassionate, high-quality care needed for lasting recovery. Wayspring primarily serves health plans and community organizations across diverse geographical markets, including urban and rural settings in the United States, aiming to provide tailored solutions for the unique challenges faced by their member populations.Wayspring's revenue model centers around partnerships with health plans and community organizations, providing services that enhance care quality and optimize network performance. The company engages in transactions primarily through B2B relationships, offering its services under subscription agreements or performance-based contracts, wherein clients pay for continuous engagement and support tailored to their member populations. Revenue is generated as health plans utilize Wayspring's consultation and performance monitoring tools, which include actionable insights and strategies to improve outcomes for individuals suffering from SUD. The revenue structure varies based on specific agreements with health plans, focusing on delivering high-impact, data-driven solutions that address the needs of their clientele.In May 2024, Wayspring, Inc. raised USD 45 mn in venture funding, led by CVS Health Ventures, to accelerate its healthcare platform and increase market presence. The company plans to leverage this funding to enhance its current offerings and potentially develop new products aimed at further supporting individuals with substance use disorders. Expansion into additional geographic regions is also on the horizon, targeting both urban and rural markets across the United States to better address the unique challenges faced by diverse populations.

## Funding rounds

- Series C, Feb 27, 2020, $15M — .406 Ventures, BlueCross BlueShield Venture Partners, Sandbox Industries, Oak HC/FT
- Series B, Oct 11, 2016, $17M — .406 Ventures, BlueCross BlueShield Venture Partners, Sandbox Industries, Oak HC/FT
- Series A, Jun 29, 2015, $8M — .406 Ventures, BlueCross BlueShield Venture Partners, Sandbox Industries
- Series A, May 27, 2014, $0.5M — BlueCross BlueShield Venture Partners, Sandbox Industries

## Investors

- BlueCross BlueShield Venture Partners (https://capitalatlas.ai/funds/bluecross-blueshield-venture-partners) — Series A, Series B, Series C
- Sandbox Industries (https://capitalatlas.ai/funds/sandbox-industries) — Series A, Series B, Series C
- .406 Ventures (https://capitalatlas.ai/funds/406-ventures) — Series A, Series B, Series C
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series B, Series C