Tridiuum Secures $9.5M Series B Funding to Expand Behavioral Health Management Platform Market Share

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on December 18, U.S. digital health company Tridiuum secured $9.5 million in Series B financing. The round was led by Sopris Capital, with strategic investor Fresenius Medical Care Ventures providing equity capital and Silicon Valley Bank offering debt financing. Ben Franklin Technology Partners, which had participated in the company’s Series A round, and Martinson Ventures also joined this financing round.

Meanwhile, Mark Groner, head of Sopris Capital, has joined Tridiuum’s board of directors.

“This round of financing will further strengthen Tridiuum’s capital base. The company plans to leverage the new funds to expand its market share in the digital integrated behavioral health sector, grow its sales force, intensify marketing efforts, and accelerate strategic product development,” said Mark Redlus, CEO of Tridiuum.

Tridiuum (formerly Polaris Health Directions) is a digital health company that develops behavioral health outcomes assessment and management systems. Founded in 1997, it is led by a nationally recognized team of experts in behavioral medicine, software engineering, digital health technology, health insurance, and behavioral health clinical research.

In 2001, Tridiuum developed a desktop application that served as a tool for behavioral health assessment and tracking. By 2015, after years of clinical research in behavioral health focusing on acute and chronic conditions, the company—then known as Polaris Health Directions—had developed a cloud-based platform architecture to provide a digital experience for behavioral health patients.

Subsequently, Tridiuum decided to seek private funding and offer its technology platform as a Software-as-a-Service (SaaS) solution to healthcare providers. In 2016, the company secured $500,000 in seed financing.

In 2017, the company was renamed from Polaris Health Directions to Tridiuum, a new name that better reflects its mission: to establish parity between behavioral health and healthcare by identifying, managing, and coordinating the full continuum of behavioral health within traditional medical settings, starting from primary care.

“Our value proposition extends to patients, healthcare providers, and the entire health system,” said CEO Mark A. Anthony. “Our long-term goal is to integrate behavioral, medical, and claims data to establish the first truly predictive model of comprehensive care, thereby achieving a win-win-win outcome.”

Today, under the leadership of CEO Mark Redlus, Tridiuum offers cloud-based behavioral health solutions powered by predictive analytics, which accelerate the diagnosis, treatment, and management of patients’ behavioral issues. The company’s scalable behavioral health outcomes management technology, including metrics for quantifying behavioral health and Behavioral Health Index scores, can be integrated with most electronic health records (EHR) and health IT software.

Groner, a new member of Tridiuum’s Board of Directors, stated, “What sets Tridiuum’s solutions apart is that they are not only backed by nearly two decades of clinical research and experience but also feature proprietary metrics for measuring and tracking patient progress. What the company is doing is highly significant for the entire healthcare industry.”

Albert Wiegman, Head of Fresenius Medical Care Ventures, stated, “The healthcare industry operates in a challenging environment that demands a focus on improving care quality while reducing total cost of care. Individuals with behavioral health issues may incur higher medical costs, and we can no longer view physical and behavioral health as separate and distinct domains. Tridiuum is accelerating their integration.”

Currently, more than 600 clinical institutions and approximately 2,500 behavioral health service providers utilize Tridiuum’s technology platform to assess and treat over 4,000 patients.

Sopris Capital is a venture capital firm headquartered in New York, USA. Founded in 2002, it primarily provides early-stage startups with funding, strategic advisory, and other forms of support.

Sopris Capital not only provides capital to early-stage startups but also works closely with them to jointly formulate strategies, build management teams, attract customers, launch acquisition initiatives, and establish strong industry relationships.

Fresenius Medical Care is a global leader in providing products and services for patients with chronic renal failure. Founded in 1996, the company is headquartered in Bad Homburg vor der Höhe, Germany.

The company serves more than 329,000 patients through a global network of over 3,800 dialysis clinics. Meanwhile, it operates 41 manufacturing facilities across major continents, providing dialysis products such as dialysis machines, dialyzers, and related disposable supplies.

Fresenius Medical Care aims to continuously improve the quality of life for patients with kidney disease by providing high-quality innovative products and treatment concepts.

Ben Franklin Technology Partners (BFTP) is a long-established venture capital organization in the United States, founded in 1982 and headquartered in Pennsylvania.

BFTP has invested over $165 million in more than 1,750 regional companies across multiple technology sectors. Since its inception, BFTP has provided capital, business and technical expertise to both early-stage and mature companies, while offering an innovative network of expert resources to help businesses accelerate their growth.

Martinson Ventures is a venture capital and growth equity firm founded in 2015 and headquartered in Pennsylvania, USA.

Since its inception, Martinson Ventures has funded and mentored more than 30 private companies, with initial investments ranging from $250,000 to $3.5 million, primarily aimed at helping businesses grow and create value. Currently, the firm is seeking investment opportunities in startup software companies.