TryCycle Data Systems Secures $150K Investment from Connecticut Innovations
OTTAWA, Ontario, October 17, 2019-- TryCycle Data Systems, developer of clinician-focused software systems to address the growing epidemic of substance use, addiction and mental health, today announced that the company has secured a $150,000 pre-seed investment from Connecticut Innovations (CI), the state’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut's innovative, growing companies. TryCycle intends to leverage the investment to accelerate growth, create jobs in Connecticut and scale its business in the United States.
“As a home-grown Connecticut initiative, we could find no better partner than Connecticut Innovations to support our vision and grow our business,” said John MacBeth, TryCycle CEO and Founder. “Charity begins at home and, together with CI, we are now positioned to go beyond and outside the borders of Connecticut to make the greatest impact on people affected by the opioid crisis.”
TryCycle is a HIPAAA-compliant healthcare technology aiming to transform the way clinicians deliver care to patients with substance use disorders. The company’s connected health platform has been adopted by clinics and treatment centers across the state, increasing patient engagement, supporting long-term recovery outcomes and saving lives.
“Connecticut’s proximity to major cities like Boston and New York, along with the ability to access the third-most educated workforce in the nation, provides massive potential for success and long-term sustainability of TryCycle,” added MacBeth.
CI’s Pre-Seed Fund supports the formation of new Connecticut technology companies by providing the funding, mentoring and resources to help early-stage companies grow. TryCycle is also a proud member of the UConn Technology Incubation Program (TIP) and is actively working with the University of Connecticut on a global health and development research project to identify the triggers and reduce the stigma of mental health disorders.
TryCycle is unique ‘digital compassionate tether’ technology, helping to bridge the gap between the time a patient leaves treatment and their next appointment. An AI-driven data platform, TryCycle is utilized by opt-in patients who agree to participate in the program as an extension of their treatment. Patient driven data insights, trends, and risk patterns are continuously collected and analyzed in real time, to enable behavioral health interventions and clinical actions. For more information, please visit http://www.trycycledata.com.
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