Sleep Data takes BetterNight national with investment

SAN DIEGO - Sleep Data and BetterNight, providers of sleep therapy services, and HCAP Partners, an investor, have announced a $6 million round of growth funding.

BetterNight will use the funding to expand the use of its virtual care platform, which includes telehealth and remote patient monitoring for people who suffer from sleep apnea, and cognitive behavioral therapy for people who suffer from insomnia.

“Today's announcement—and the incredible support of our partners at HCAP—will accelerate the commercialization of our virtual platform which helps participants quickly receive the care they deserve,” said Dave French, CEO of Sleep Data, which launched BetterNight last year. “Our solutions increase access to much-needed care and are delivered at lower unit costs, while achieving superior outcomes.”

So far, Sleep Data, which serves more than 22,000 patients annually, has successfully deployed the BetterNight platform in California, Arkansas, Illinois and Nebraska.

HCAP is a provider of mezzanine debt and private equity for underserved, lower-middle market companies throughout California and the western U.S. The firm invests $2 million to $15 million in established businesses generating between $10 million and $100 million in revenues.

“BetterNight has become a category defining company in sleep care,” said Tim Bubnack, managing partner at HCAP. “The BetterNight team's vision, rigorous clinical focus and intelligent application of scalable technology across multiple platforms has raised the bar for what healthcare buyers, providers and individuals should expect from modern sleep health solutions.”