Freespira Finalizes $10 Million Financing

Mobile Health Times | December 9, 2020

Freespira, Inc., maker of the first FDA-cleared digital therapeutic that significantly reduces or eliminates symptoms of panic attacks, panic disorder and post-traumatic stress disorder (PTSD) in only 28 days, announced it has completed a $10 million capital raise led by Lightspeed Venture Partners.

Joining the financing round, the largest in the company’s history, were previous investors Aphelion Capital, Medvest Capital, and Freespira Chairman, Russell Siegelman.

“We are excited to support Freespira’s mission to make its digital therapeutics broadly available for the millions of people who suffer from the debilitating symptoms of panic disorder and PTSD,” said Jonathan MacQuitty, Venture Partner at Lightspeed Venture Partners. “Freespira is the only product that addresses the underlying physiological cause of panic disorder and PTSD, a major source of suffering and medical cost, and is well positioned to address a significant market opportunity within the nation’s commercial payors and the Veterans Administration.”

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