Expressable, a leading virtual speech therapy provider, has secured an impressive $26 million in Series B funding. With HarbourVest Partners leading the investment, joined by Digitalis Ventures and previous backers like F-Prime Capital and Lerer Hippeau, this Texas-based company is poised for significant growth. Expressable offers both adults and children access to licensed speech therapists via virtual sessions, complemented by educational videos, secure therapist texting, and weekly homework. This new influx of funding will allow Expressable to expand its therapist network, enhance its platform, and broaden its partnerships with health providers and plans to meet the growing demand for accessible speech therapy.
Table of Contents
Virtual Speech Therapy Provider Expressable Secures $26M
Have you ever wondered how advancements in telehealth are bridging the gap for those in need of specialized care? One of the most recent milestones comes from Expressable, a pioneering virtual speech therapy provider, which has successfully secured $26 million in Series B funding. Let’s dive into the details of this exciting development and what it means for the future of speech therapy.
This image is property of images.pexels.com.
The Big Announcement
$26M in Series B Funding
Virtual speech therapy platform Expressable recently announced securing $26 million in Series B funding. This round was led by HarbourVest Partners, with participation from Digitalis Ventures and existing investors F-Prime Capital and Lerer Hippeau. It’s a significant step forward for the Texas-based company, which aims to make speech therapy more accessible for people of all ages.
Key Investors
- HarbourVest Partners (Lead)
- Digitalis Ventures
- F-Prime Capital (Existing Investor)
- Lerer Hippeau (Existing Investor)
These investors see the potential in Expressable’s unique approach to virtual speech therapy, and their financial support will help the company expand its offerings and reach even more patients.
What Expressable Does
Expressable provides virtual care sessions for patients and families to connect with licensed and certified speech therapists. The platform is designed to cater to the individual needs of each patient, ensuring that they receive personalized care regardless of their location.
Services Offered
- Virtual Care Sessions: Connect with licensed and certified therapists.
- Secure Therapist Texting Services: Maintain contact between sessions.
- Educational Videos: Access a library of informative content.
- Weekly Homework: Reinforce learning and practice skills.
Target Audience
Both adults and children can benefit from Expressable’s services. The platform addresses a variety of speech-related conditions, making it a versatile tool for many users.
Conditions Treated
- Language Disorders
- Speech Delays
- Aphasia
- Stuttering
- Autism Spectrum Disorder
- Other Speech Conditions
By offering a comprehensive suite of services, Expressable aims to address the diverse needs of its users in a convenient and effective manner.
This image is property of images.pexels.com.
Utilizing the Investment
Therapist Network Expansion
One of the primary goals of this new funding is to expand Expressable’s network of therapists. A larger pool of therapists will allow the company to serve more patients, providing them with the expert care they need.
Platform Enhancement
The investment will also go towards enhancing the existing platform. Improvements in technology and user experience will help make the service even more accessible and effective for both therapists and patients.
Provider and Health Plan Partnerships
In addition to expanding its therapist network and improving its platform, Expressable plans to forge new partnerships with providers and health plans. These partnerships will help integrate their services into broader healthcare ecosystems, making it easier for patients to access speech therapy as part of their overall healthcare plan.
The Growing Need for Virtual Speech Therapy
Market Impact
Expressable’s innovative model addresses a significant market need. With the rise of telehealth, more and more people are looking for convenient ways to access specialized care. Virtual speech therapy offers a solution for those who may not have easy access to in-person services.
Expert Opinion
“We’re thrilled to partner with Expressable as they continue to scale their category-defining speech therapy solution for this growing market need,” said Michael Guiness, principal at HarbourVest.
By offering a novel care model that aligns incentives and addresses disparities in access, Expressable is poised to make a significant impact in the field of speech therapy.
This image is property of images.pexels.com.
Market Snapshot
Expressable isn’t the only player in the virtual speech therapy market. There are several other companies and technologies making strides in this area. Understanding the broader market context can give us a better sense of the importance and potential of Expressable’s recent achievements.
Other Key Players
- Great Speech: Another virtual therapy platform focusing on speech therapy.
- Voiceitt: A speech recognition technology company.
- Amazon, Microsoft, Meta, Apple, and Google: These tech giants are also exploring speech capabilities, particularly through initiatives like the Speech Accessibility Project.
Speech Accessibility Project
In 2022, these tech companies, along with nonprofit partners, announced a collaboration with the University of Illinois Urbana-Champaign. This project aims to expand speech capabilities for those with disabilities, highlighting the growing importance of accessible speech technology.
Historical Context
Series A Funding
Expressable previously raised $15 million in Series A funding in 2022. This earlier investment helped lay the groundwork for the company’s current success, providing the resources needed to develop their platform and initial network of therapists.
Continuous Growth
With each round of funding, Expressable continues to grow and evolve. The company’s ability to attract significant investments underscores the market’s confidence in their approach and potential for future success.
Industry Challenges and Opportunities
Addressing Disparities in Access
One of the biggest challenges in healthcare is ensuring that everyone, regardless of location or socioeconomic status, has access to necessary services. Virtual speech therapy can help bridge this gap by offering remote care that is both effective and convenient.
Enhancing Patient Outcomes
By using a combination of virtual sessions, educational content, and regular homework, Expressable aims to improve patient outcomes. This comprehensive approach helps patients practice and reinforce their skills, leading to better results over time.
Looking Ahead
Future Expansions
With the new funding, Expressable is well-positioned to expand its reach and impact. This includes not only increasing its network of therapists but also enhancing the platform and establishing new partnerships.
Innovations on the Horizon
As technology continues to evolve, so too will the capabilities of virtual speech therapy. We can expect to see new features and tools that make the therapy experience even more effective and user-friendly.
Broader Impact on Telehealth
Expressable’s success is a testament to the potential of telehealth as a whole. As more people and providers adopt virtual care solutions, we’ll likely see continued growth and innovation in this space.
Conclusion
Expressable’s recent milestone of securing $26 million in Series B funding marks a significant step forward for the company and the field of virtual speech therapy. By expanding their network, enhancing their platform, and forging new partnerships, they are poised to make a substantial impact on the accessibility and effectiveness of speech therapy.
Through thoughtful investment and innovative approaches, Expressable is helping to shape the future of telehealth, offering new hope and opportunities for those in need of speech therapy services. As we look to the future, it’s exciting to think about the possibilities that lie ahead, not just for Expressable, but for the wider healthcare industry and the countless individuals who stand to benefit from these advancements.
Thank you for taking this journey through the exciting developments at Expressable. Here’s to a future where everyone has access to the specialized care they need, no matter where they are.
Related site – Expressable Raises $26M Series B to Expand Access to its Technology-Enabled Speech Therapy Solution