Rethink Partners with K1 to Accelerate Growth and Acquire Market Leading Telehealth Solution
NEW YORK, Aug. 11, 2020 /PRNewswire/ -- Rethink First ("Rethink"), the leading provider of cloud-based software solutions, assessments, and clinical best practice content for supporting individuals with autism and other developmental disabilities, today announced it has received a strategic investment from K1 Investment Management, LLC ("K1"), a leading investment firm focusing on high-growth enterprise software companies. The investment will allow Rethink to continue to rapidly scale its operations in the behavioral health, managed care, education and employer markets, and will help the company add complementary offerings and technologies by leveraging K1's dedicated operations team and direct sourcing capabilities.
"We are elated to partner with K1 and see exciting opportunities to expand Rethink's footprint and impact," said Daniel Etra, CEO and Co-Founder at Rethink. "We strive to reach our target population and its caregivers and will continue to deliver that support in an evidence-based manner with a focus on providing timely and tailored resources and improving outcomes." Eran Rosenthal, COO and Co-Founder at Rethink added, "Rethink is a platform with tremendous opportunity to expand its capabilities and reach. The recent launch of our neurodiversity product and our new telehealth offering continue to address the needs of our customers. We are eager to embark upon the accelerated growth path that K1's partnership is fueling."
Over 25 of the Fortune 100 are part of Rethink's roughly 200 public and private sector caregiver platform customers, with more than 3.5 million employees and 7 million covered lives in over 100 countries. Additionally, nearly 500 clinical customers, ranging from fewer than 10 to more than 1,000 clients, trust Rethink's product suite to run their Applied Behavioral Analysis (ABA) practices. Finally, more than 300 school districts rely on Rethink's CODiE award-winning social and emotional learning solution and special education content.
"Launching the Rethink caregiver offering in response to COVID-19 was a critical move for us at NVIDIA – the pandemic shut down schools and limited provider resources, shining a light on the unique challenges employee parents face on a daily basis, particularly those caring for a child with a developmental disability," commented Deepa MacPherson, Wellbeing Benefits Program Manager at NVIDIA. "Rethink's virtual solution was an essential part of our plan to increase support to employees with additional struggles so they can better manage their mental health and 'new' home life. Rethink's expanded neurodiversity inclusion offering differentiated it from other caregiver programs, ensuring those caring for or living with cognitive challenges and variances are supported and included."
"My daughter entered a new class at school and had some challenges adjusting – my wife and I found it difficult to narrow in on her unique needs. I elected to speak with a Rethink specialist and consulted the online video lessons and was able to get strategies and guidance on how to address her behavioral concerns at school," said Sean Lavelle, Global Enablement Lead at SAP. "It's like I'm living vicariously through my daughter and watching her grow and adapt and experience new social situations. Having Rethink as an added benefit is something that I am truly grateful to SAP for, and I would be doing myself a disservice by not utilizing it."
Working alongside K1, Rethink recently completed its acquisition of TheraWe, a telehealth and parent engagement platform focused on ABA pediatric care. TheraWe allows providers to capture both live and asynchronous telehealth sessions, engage in group and one-on-one chats, and record parent and therapist notes, strengthening parent involvement and improving clinical outcomes.
"Rethink has an impressive history of driving pioneering solutions with rapid growth," said Ron Cano, Managing Partner at K1. "We are excited to assist Daniel and Eran in their bold vision of empowering individuals with developmental disabilities and bringing Rethink's efficacy to bear on the broader behavioral health landscape. The acquisition of a telehealth platform was timely to address the needs of our customers in the work-from-home environment. Our growth plans for Rethink include accelerated advancement of product features and additional acquisitions."
About Rethink
Rethink is a global health technology company providing cloud-based treatment tools, training, and clinical supports for individuals with developmental disabilities and their caregivers. Selling into large employer benefit plans, ABA clinics, K-12 school districts, and managed care organizations, Rethink takes a broad-based approach to addressing developmental disabilities in multiple contexts to reach more caregivers and affected individuals. Our mission is to inspire and empower individuals with developmental disabilities and those who support them. For more information, visit https://www.rethinkfirst.com/.
About K1
K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes, and invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 100 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies designed to assist portfolio companies scale efficiently. Since inception of the firm, K1 has partnered with over 125 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit k1capital.com or follow us at linkedin.com/company/k1im.
SOURCE K1 Investment Management
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