NEW YORK, Nov. 6, 2015 (GLOBE NEWSWIRE) -- Leading global start up accelerator Dreamit today announced that one of its portfolio companies, 1DocWay, was acquired this week by Genoa, a QoL Healthcare Company (Genoa).
Since participating in Dreamit's accelerator program in New York City in 2011, 1DocWay has grown into the nation's largest outpatient telepsychiatry provider, offering a simple, easy-to-use platform to connect mental health providers and patients. The network has treated over 25,000 patients in over 60 clinics across 11 states, providing an innovative solution to the gaps in supply and demand for mental health services, including psychiatrist availability.
"This acquisition is a tremendous result for 1DocWay and evidence of the enormous opportunity for disruptive companies to partner with industry players to deliver better care," said Dreamit CEO Avi Savar. "Dreamit is proud to have worked with 1DocWay early on and looks forward to seeing the great things their team will achieve with Genoa."
As a Dreamit company, 1DocWay participated in a 4 month intensive program where they worked to build and improve on their product with mentorship from experienced founders, while receiving the benefits of access to Dreamit's unique network of partners and investors.
"Dreamit has been an instrumental part of our success from the beginning," said 1DocWay CEO Samir Malik. "They enabled us to test our assumptions with industry leaders in the space and commercialize our vision for bringing about change in behavioral health. We are grateful for their support and investment."
Dreamit recently relaunched its program offerings to sharpen the focus on specific industry verticals and appeal to a broader range of entrepreneurs. Dreamit Health, Dreamit EdTech, and Dreamit Overdrive, designed for later stage companies, are currently accepting applications.
Ranked one of the top 10 business accelerators in the world by Forbes, the Dreamit network focuses on bringing the right people together to drive progressive innovation and real business velocity. Dreamit has launched over 215 start ups that have gone on to raise in excess of $275M and are collectively worth in excess of $1B including LevelUp, SeatGeek, BioBots, Adaptly, Meerkat, and more.