Click Therapeutics has successfully raised $134 million over five funding rounds, with notable investments from HSBC, K2 HealthVentures, and Sanofi Ventures. The company focuses on developing software as prescription medical treatments, known as Digital Therapeutics™, to address unmet medical needs.
Keep reading to explore the intricacies of Click Therapeutics' fundraising journey and the investors backing this innovative platform.
What Is Click Therapeutics?
Click Therapeutics, founded by David Benshoof Klein and Victor Gao, is a pioneering company in the field of Digital Therapeutics™. Established in New York City, the company has expanded its presence to Boston and Miami.
With a team of 51-200 employees, Click Therapeutics focuses on developing software as prescription medical treatments. Their innovative approach aims to address unmet medical needs through engaging and clinically proven digital solutions.
Click Therapeutics' mission is to deliver accessible, FDA-regulated treatments directly to patients' smartphones, revolutionizing the way healthcare is administered.
How Much Funding Has Click Therapeutics Raised?
- Debt Financing from HSBC Innovation Banking
- Amount Raised: $20 million
- Date: November 6, 2023
- Lead Investors: HSBC Innovation Banking
- Motivation Behind the Round: To retire Click’s previous term loan and advance the prescription digital therapeutic pipeline.
- Debt Financing from Silicon Valley Bank
- Amount Raised: $15 million
- Date: April 15, 2022
- Lead Investors: Silicon Valley Bank
- Motivation Behind the Round: To retire an existing term loan facility with K2 HealthVentures and advance the digital therapeutic pipeline.
- Series B Funding Round
- Amount Raised: $52 million
- Date: October 22, 2021
- Lead Investors: H.I.G. BioHealth Partners and Accelmed Partners
- Motivation Behind the Round: To accelerate the development and commercialization of the digital therapeutic pipeline and advance platform capabilities.
- Debt Financing from K2 HealthVentures
- Amount Raised: $30 million
- Date: December 1, 2020
- Lead Investors: K2 HealthVentures
- Motivation Behind the Round: To accelerate the commercialization of Clickotine™ and advance the pipeline of clinically-validated digital therapeutics.
- Financing Round Led by Sanofi Ventures
- Amount Raised: $17 million
- Date: July 23, 2018
- Lead Investors: Sanofi Ventures
- Motivation Behind the Round: To advance the proprietary platform and pipeline of prescription digital therapeutics and seek FDA clearance.
Total Amount Raised: $134 million. Current Valuation: (~estimated) $500 million.
Key Investors
- HSBC Innovation Banking
- Details: A division of HSBC Bank USA, N.A., HSBC Innovation Banking provides financial services to innovative companies. They support businesses through various banking services including Wealth and Personal Banking, Commercial Banking, and Global Banking.
- Investment Focus Areas: Healthcare, life sciences, technology.
- Notable Investments: Not specified.
- Silicon Valley Bank (SVB)
- Details: SVB is a leading lender to companies in the life sciences space, offering targeted financial services and expertise. They have offices in innovation centers around the world.
- Investment Focus Areas: Life sciences, healthcare, technology.
- Notable Investments: Not specified.
- H.I.G. BioHealth Partners
- Details: The life-science investment affiliate of H.I.G. Capital, H.I.G. BioHealth Partners invests in therapeutic drugs, medical devices, and diagnostics. They focus on companies addressing significant unmet medical needs.
- Investment Focus Areas: Therapeutic drugs, medical devices, diagnostics.
- Notable Investments: Not specified.
- Accelmed Partners II
- Details: A U.S.-based private equity firm, Accelmed Partners II focuses on HealthTech companies. They invest in medical devices, diagnostics, digital health, and technology-enabled healthcare services.
- Investment Focus Areas: Medical devices, diagnostics, digital health, technology-enabled healthcare services.
- Notable Investments: Not specified.
- Sanofi Ventures
- Details: The corporate venture capital arm of Sanofi, Sanofi Ventures focuses on early-stage biotech and digital health companies. They aim to support innovative and transformative products and technologies.
- Investment Focus Areas: Rare diseases, vaccines, digital health solutions.
- Notable Investments: Not specified.
What's Next for Click Therapeutics?
Click Therapeutics stands at the cusp of significant growth opportunities, driven by their recent $20 million term loan from HSBC Innovation Banking. This funding will propel the advancement of their prescription digital therapeutic pipeline, including treatments for major depressive disorder, schizophrenia, and substance use disorders. The company’s lead internal program for the preventive treatment of migraine also holds substantial promise, positioning Click Therapeutics to make a notable impact in the digital health space.
Future fundraising opportunities appear promising, with the potential for additional funding rounds or strategic partnerships to support their expanding pipeline. The successful Series B financing round, which raised $52 million, suggests that Click Therapeutics may continue to attract investment to further develop and commercialize their innovative solutions. Collaborations with financial institutions like Silicon Valley Bank and equity investors such as K2 HealthVentures could also pave the way for future funding.
However, Click Therapeutics faces several challenges, including achieving regulatory approvals for their digital therapeutics and navigating the competitive landscape of the digital health industry. Ensuring patient engagement and adherence to their programs, as well as integrating their solutions into existing healthcare systems, will be critical for their success. Despite these hurdles, the growing interest in digital health solutions and the strategic support from partners like Sanofi Ventures provide a strong foundation for Click Therapeutics' continued growth and innovation.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Click Therapeutics and gather other critical business insights.
Sign up for free on Clay and start transforming your sales strategy today.
