Ascellus Blog

Ascellus Receives $8M in Growth Capital From HLM Venture Partners and .406 Ventures

July 28, 2020
Ascellus Receives $8M in Growth Capital From HLM Venture Partners and .406 Ventures

The Ascellus Group, Integrated Medical Case Solutions, a pioneer in evidence-based behavioral health evaluation and treatment, is pleased to announce a new $8.0M investment co-led by HLM Venture Partners and .406 Ventures. Ascellus’s early investor Centripetal Capital Partners also participated in this latest funding round. 

Ascellus is the established leader in evaluating and treating trauma, PTSD, and stress-related injuries for workers’ compensation cases. Ascellus’s proprietary approach mitigates the liability of some of the most vexing workers’ compensation cases and provides employees with effective treatment programs that restore health and allow workers to return to work more quickly and with fewer long-term negative outcomes.

HLM Venture Partners

HLM Venture Partners is a leading venture capital firm and one of the nation’s oldest and most experienced in the tech-enabled healthcare services, healthcare information technology, and medical device and diagnostics sectors. Seeking dynamic, emerging-growth companies, HLM invests in the industry’s most innovative companies, including Phreesia, Teladoc, AbleTo, Regroup Therapy, Nordic Consulting, meQuilibrium and ClearDATA.

.406 Ventures

Founded in 2005, .406 Ventures is a Boston-based, early-stage venture capital firm investing in healthcare and enterprise technology companies founded by visionary entrepreneurs. With over $1 billion under management across four core and two opportunity funds, .406 Ventures typically leads, or co-leads, early-stage investment rounds and will opportunistically invest in later-stage rounds around a deep thesis. .406 Ventures’ healthcare theses focus on systems, technologies, and services that improve clinical delivery, with investments in companies such as Abacus Insights, AbleTo, Axial Healthcare, Heartbeat Health, Iora Health, Nomad Health, Redox and WelbeHealth.

Centripetal Capital Partners

Centripetal Capital Partners, usually the lead investor, is a multi-stage venture capital firm with an innovative fund structure that works on the operational and financial strategy for Health & Wellness, Impact, and Market Reimagination companies. Seeking early-stage and growth-equity companies, Centripetal Capital Partners invests in businesses that have a clear, established business plan to help them realize their potential. Centripetal Capital Partnersteam, affiliates and members consist of experienced entrepreneurs, financiers, executives and private investors who are successful in creating, funding, building and crystalizing value. 

Welcoming a new board member

Also, HLM Partner, Vin Fabiani, will be joining the Ascellus Board. “Ascellus serves a significant role in minimizing lost work time due to workers’ compensation claims; HLM is excited to partner with Ascellus to increase their recruitment of quality professionals, expand their provider system, and increase their success as a leader in workers’ compensation recovery,” said Mr. Fabiani.

Ascellus CEO Lori Daugherty said, “The experience that these two successful and well-respected organizations bring to Ascellus will propel us to the next level as a leading behavioral telehealth provider in workers’ compensation treatment and recovery.” Ascellus is thrilled to be partnering with HLM Venture Partners and .406 Ventures. This growth capital will allow even faster growth by attracting additional talent, enhancing our technology platform, and scaling our already proven methodologies.

Ascellus – Integrated Medical Case Solutions – is the premier behavioral medicine network for pain and trauma response with evidence-based outcomes and a proven track record for transforming workers’ compensation cases. Ascellus makes intervention efficient with a national network of 1,500+ psychologists and psychiatrists in all 50 states.

Ascellus logo mark

Ascellus bridges the gap between mental and physical health to accelerate recovery for our nation's workforce. By connecting the workers' compensation industry with our expert behavioral care and evidence-based treatments, we deliver high-quality outcomes, helping injured workers reemerge with increased strength, purpose and resilience in the workplace.