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Motivity, a provider of SaaS tools for autism therapy, received $27 million from Five Elms, founder Rex Jakobovits tells Axios exclusively.

Why it matters: Investor interest in autism therapy tech is growing as a clinician shortage buoys demand for new tools.

By the numbers: Honolulu-based Motivity has almost 600 customers, up from 100-plus in 2023, comprising clinics and school systems providing applied behavioral analysis (ABA).

How it works: Motivity's software automates session and progress note-taking for ABA therapists.

Its no-code program builder lets a therapist construct bespoke treatment plans for each patient. Using AI, Motivity's software also helps assess what learning programs and methods best suit each patient.

It launched its commercial product in 2021.

Catch up quick: The growth raise — Motivity's first round of outside capital — came after a competitive process with 50 private equity and growth equity firms in attendance.

Motivity and its banker narrowed that down to 10, which yielded six letters of intent.

The company had previously been financed from $11 million in grants from the NIH and the Hawai'i Technology Development Corporation.

What's next: Five Elms plans to focus on growing Motivity organically, principal Austin Gideon tells Axios.

"We consider M&A for every investment. For companies at Motivity's scale, executing on successful M&A is challenging, and therefore, it has to make sense from a product perspective."

State of play: Autism spectrum disorder diagnoses have increased steadily over the last two decades, with about 1 in 36 children being diagnosed as of 2020, per the CDC.

Nautic Partners acquired Proud Moments ABA, a NYC provider of applied behavior analysis therapy for patients with autism, from Audax in February.

Frontera Health, a developer of autism therapy streamlining tools, raised a $32 million seed last month.

Insight Partners-backed CentralReach, an autism therapy software company, is reportedly working with William Blair to explore a sale.

Last year, VC group Autism Impact Fund closed its debut fund with $60 million.

Exclusive: Motivity gets $27M from Five Elms for ABA software

Autism spectrum disorder prevalence has increased steadily over the past 20 years.

Illustration of a brain-shaped maze with the correct path highlighted.

Motivity, a provider of SaaS tools for autism therapy, received $27 million from Five Elms, founder Rex Jakobovits tells Axios exclusively.Why it matters: Investor interest in autism therapy tech is growing as a clinician shortage buoys demand for new tools.

Exclusive: Motivity gets $27M from Five Elms for ABA software

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