RecoveryLink and 2 More Startups Got Investments From Penn’s New $5M Fund for Health
Two-year-old telehealth company RecoveryLink is one of three tech startups to receive funding from the Fund for Health, a new partnership between Penn Medicine and the Wharton Social Impact Initiative.
Over the next three years, the Fund will invest $5 million in early-stage businesses addressing the social determinants of the health of economically disadvantaged Philadelphians.
Philly-based RecoveryLink is the maker of an online suite of tools for people in recovery from substance use, mental health issues, disordered eating, trauma and more. RecoveryLink, returning citizens-focused CRM tool Uptrust of California and education software company Kinvolved of New York received a total of $750,000 from the fund.
Cofounder and CEO Robert Ashford told Technical.ly that along with an investment from Ben Franklin Technology Partners in July, the company has raised $550,000 overall, all from from local investors. RecoveryLink hasn’t yet raised a seed round, and has been bootstrapped up until this point.
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