InnovaTel
Company Overview
90 million Americans live in communities vastly underserved by psychiatry resources. Further, an estimated 35 million Americans are expected to develop a behavioral health condition in 2021.
Telehealth is now proven to be effective, more cost efficient and more broadly accessible. Tech-enabled telepsychiatry solution for adults and adolescents alleviates the chronic access problem.
Unique Perspective + Engagement
Empactful Capital partnered with Canyon Healthcare Partners to lead the late 2016 Series A round (only equity capital raised prior to December 2021 company sale). Empactful sat on both the Company’s Board of Directors and Strategic Advisory Board for 5 years (2016-2021).
Empactful’s team provided deep experience in technology enablement and new enterprise market expansion. Our engagement included significant input on the Company’s strategic planning, Finance Committee of Board leadership, business development and go-to-market strategy, plus organizational development and executive recruiting.
Company / Engagement Highlights
Innovatel provides a critical solution to a market where more than 1 in 3 adults with serious impairment receive no treatment. The Company leveraged a strategic partnership with National Counsel for Behavioral Health (thought leader/proven channel partner) to drive significant revenue growth through 2021.
Growth Plan Results:
- Revenue Growth: Revenue run rate grew 12x during 2016 – 2021.
- Team Development: Empactful recruited the COO/President in Q2 2021 who played an instrumental role in preparing the Company for its acquisition; and supported recruiting process for multiple Industry Executives to the Board in late 2020.
- Operational Discipline: Defined and implemented operating metrics and key growth milestones leveraging Empactful’s best practice frameworks.
- Innovation Planning: Supported development of Technology Assessment & Innovation Plan and new market exploration and development.
- Investment Realization: In late 2021, Innovatel was acquired by Quartet Health which resulted in 10x investment return for investor group in December 2021.