I'm a senior writer at Forbes covering healthcare technology, and I also write the InnovationRX newsletter. I was previously a healthcare reporter for POLITICO covering the European Union from Brussels and the New Jersey Statehouse from Trenton. I was a 2019-2020 Knight-Bagehot Fellow in business and economics reporting at Columbia University.
In 2021, Elemy boasted a more than billion dollar valuation built on providing in-person autism therapy to kids. Now it’s changed its name to Tilly and is selling software to the therapists it used to employ.November 2023, employees of the autism therapy startup Elemy received an email with the subject line “The Next Chapter.” Elemy, which provided specialized in-person care to kids in their homes, was rebranding.
California was Elemy’s last remaining market after the company had already shifted to the new model in Florida and Texas. Tilly executives did not respond to multiple requests for comment via phone or email. “We want you to make six figures if you’re at a full caseload,” Eby said. “It’s a big improvement in terms of your day-to-day, your impact on your community, your ability to have control and also gives you that financial upside.”almost a third. Before, when they were employed by Elemy, therapists were paid an hourly rate.
Another former employee, who requested anonymity for fear of retribution, expressed frustration at “constant shifts in the business model with very limited warning” and the subsequent downstream consequences for the children in their care and families. “It didn’t seem like cared about the clients,” the person said. “It was more about how can we optimize how this company is running for profit.”
The following month, Elemy announced a $219 million Series B financing round led by SoftBank Vision Fund 2 at a $1.15 billion valuation. The cap table included General Catalyst, Founders Fund, Bill Ackman’s Table Management, Chelsea Clinton’s Metrodora Ventures and Ashton Kutcher’s Sound Ventures, among many others, according to a press release. The company claimed it was “already delivering care and changing children’s lives in 14 states.
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