Dazos, a behavioral health software provider based in Boca Raton, has secured a $25 million Series A from New York-based venture capital firm Radian Capital.
Dazos , founded in 2022 by David Farache and Louis Devaleix, specializes in tech solutions for the behavioral health sector, focusing on addiction treatment and mental health. The company offers a suite of products including a behavioral health CRM and tools for revenue cycle management and business intelligence reporting, all designed to optimize admissions, manage leads and grow revenue.
That specialization is important because the generic software tech tools out there just don’t cut in this industry, particularly because marketing and patient-sourcing practices are so different, Dazos’ CEO says. “You need to be able to not only track your marketing efforts but make sure that nothing and no one is falling through the cracks,” Farache said in Behavior Health Business, which reported the funding news.
Farache and Devaleix developed the early stages of Dazos while growing Harmony Recovery Group, a mental health treatment provider. They exited Harmony Recovery Group in a sale to Thrive Healthcare in 2022. The Dazos Business Intelligence Suite of products rose out of that critical unmet need for tools that enable proper oversight and management of behavioral healthcare facilities, they said. Their new investor agrees.
“That experience matters. They understand firsthand the complexities associated with behavioral health workflows and the pressure providers are facing as demand increases, staffing remains tight, and legacy software solutions are both expensive and require highly customized implementations. Their experience is etched into the bones of the product,” said Radian Capital Partner Weston Gaddy in the media report.
In addition to the CRM platform, Dazos offers tools and services including an AI-powered billing analyzer called Dazos IQ, a billing platform, a verification of benefits tool, automated marketing reports and a marketing campaign platform. The company serves about 1,500 mental health and addiction treatment facilities in the US.
Dazos will use the funding to increase its sales force and develop new tools aimed at meeting the needs of the industry while continuing to set itself apart. It is unclear if the company has raised funding previously.
“While significant investment has been made in behavioral health EMRs, we believe we’re still in the early innings of robust CRM adoption,” Gaddy said. “The industry has a number of unique communication needs spanning patient acquisition and intake through to discharge and recovery compared to other healthcare arenas.”
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