AI-enabled, family-powered autism therapy company Forta announced it closed a $55 million Series A funding round led by Insight Partners.
Alumni Ventures and Exor Ventures also participated in the round, as well as the founders of Forward, Flexport, Curative, 23&Me, Prelude Fertility, Warby Parker, Harry’s and Allbirds.
WHAT IT DOES
Forta combines AI and LLMs with a 50-hour training course for parents to provide their child with personalized applied behavior analysis (ABA) therapy for autism.
ABA therapy is based on learning and behavior. It involves various techniques, such as positive reinforcement and understanding antecedent, behavior and consequence.
The San Francisco-based company will use the Series A funds to grow its autism therapy practice, continue its AI and LLM research, and develop its clinical algorithms further.
“When we identify areas of care shortages, we find ways to empower local and family caregivers with AI-based tools and education to deliver earlier and more effective interventions,” Ritankar Das, cofounder and CEO of Forta, said in a statement.
“[Forta] started by applying our platform to autism therapy because many families face years of waiting for care. Now, we are exploring how to expand the empowered home caregiver model to memory care and other chronic conditions.”
MARKET SNAPSHOT
As of 2020, about one in 36 children had been identified as having autism spectrum disorder, according to the CDC.
Several digital health companies focus on providing autism care, including Los Angeles-based SpectrumAi, which offers tools to help analyze quality and outcomes data on ABA therapy in order to improve communication, social and learning skills for those with conditions like autism.
SpectrumAi raised up to $20 million in Series A funding last year and $9 million in seed funding in 2022.
Other companies in the space include Sprout, a tech-enabled autism care and treatment company offering in-home assessments and applied behavior-analysis therapy, and virtual reality behavioral-therapy platform Floreo, which teaches individuals with autism, ADHD, anxiety and other conditions independent-living skills, communication, and social and emotional regulation.