VIRTUAL CLINIC PELAGO SHOWS ADDICTION TO PROGRESS IN FIGHT AGAINST SUBSTANCE ADDICTION

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Pelago, a virtual substance use management clinic, recently secured a $58 million Series C funding round despite a decline in venture funding in Telehealth. Founded by Forbes 2018 Under 30 Social Entrepreneur listers Yusuf Sherwani, Maroof Ahmed, and Sarim Siddiqui, Pelago offers treatment for opioid, alcohol, and tobacco use via a mobile app, eliminating the need for patients to travel to a physical location.

The clinic provides services such as at-home testing, medication prescriptions, one-on-one therapy, and in-app goal setting tools. It partners with companies like AT&T and American Eagle to offer its services as a benefit to their workforce.

While Pelago faces competition from startups like Workit Health, which offers similar services, the telehealth sector for substance misuse treatment is still emerging, with profitability remaining uncertain. Its above-average industry growth is attributed to the rising prevalence of substance misuse disorders and the increasing demand for Telehealth solutions.