We are pleased to announce our recent investment in Reframe.
They are reframing what it means to quit alcohol
We are pleased to announce our recent investment in Reframe. Co-founders Vedant and Ziyi are super impressive and building a business with a big mission and societal impact to help people quit drinking alcohol. Here are a couple of reasons we are excited to partner with the Reframe team:
First, it starts with the team. Both Vedant and Ziyi are engineers from Georgia Tech who have worked in startups for several years. They have pivoted through multiple ideas, showing the grit, passion, resourcefulness, and ability to get things done. Their styles are a perfect complement of skills and their personal experiences marry well to their genuine belief in solving this problem.
From a market perspective, studies show 25% of Americans are excessive alcohol users, yet <5% of people actually seek any help. Formal programs like AA and recovery centers can be helpful, but are either too stigmatized or too expensive for most people. By making a solution that is more affordable, accessible, and accountable to change beliefs, build habits, and manage cravings we believe this can open up a large and underserved market (alcohol support) with additional broader underserved markets (drug abuse, mental health) to come in the future.
Lastly, there are opportunities to ride the healthcare waves of consumerism, digital health, mental health, and convenient/low cost access to care that can accelerate their already impressive growth, engagement, and product.
We are excited to work with Vedant and Ziyi to help solve a major problem in our society!