Clean Slate Clinic closes $4.3 million capital raise

Clean Slate Clinic has closed a $4.3 million capital raise, comprising a $2.8 million convertible note and a $1.5 million debt facility.

The funding is structured to support growth rather than day-to-day operations, with Giant Leap joining the investor base and Scale Investors increasing its backing.

Clean Slate runs a virtual alcohol detox and recovery service in Australia, offering doctor-led care at home. The business says it has supported more than 3,000 patients since it was founded in 2020.

The financing comes as demand for alcohol treatment remains high, while treatment uptake stays low. According to figures cited by Clean Slate, almost 6.6 million Australians drink at levels that harm their health, and an estimated 1.4 million meet the threshold for alcohol dependence.

Only one in four people with alcohol dependence seek treatment, according to the company, and research suggests it takes an average of 18 years before someone with alcohol dependence speaks to a health professional.

Dr Chris Davis, co-founder of Clean Slate Clinic, said there is a gap in treatment options for people who want to stop drinking without entering hospital or residential care.

"Alcohol is the most common drug presentation in the Australian health system, yet safe, clinician-led detox at home has been virtually non-existent," said Dr Chris Davis, GP, addiction medicine specialist and co-founder of Clean Slate Clinic.

"For years, I watched people cycle through crisis because community care simply didn't exist at scale. Clean Slate changes that by giving people access to medical care at home when they are ready to seek help."

Funding Mix

The $2.8 million convertible note brings in Giant Leap as a new investor. Scale Investors also participated through its latest fund, building on its earlier support for the company.

The separate $1.5 million debt facility was arranged through Australian Medical Angels, an early backer. According to Clean Slate, the facility is tied to accounts receivable from enterprise health fund contracts and direct-to-consumer payment plans.

The structure replaces a more traditional debt arrangement and is intended to preserve equity funding for expansion. Clean Slate described the debt component as a syndicated structure designed for the Australian health technology market.

Pia Clinton-Tarestad, co-founder and chief executive officer, said the raise was designed to fund expansion rather than cover immediate operating needs.

"This isn't capital to keep the lights on," said Pia Clinton-Tarestad, co-founder and CEO.

"Giant Leap joining our mission is important impact validation. They back companies where impact and returns reinforce each other, and we're proud to meet that bar. We're also grateful for the continued backing from Scale Investors, whose ongoing support reflects the strength of our model. And the Australian Medical Angels facility is genuinely structurally innovative. It's how a capital-efficient, mission-driven company at our stage should be financing receivables."

Investor View

Investors pointed to both the scale of alcohol-related harm and the company's commercial progress. Clean Slate says it recorded eightfold revenue growth in nine quarters, while reporting a relapse rate more than three times lower than the industry standard and a 94% client experience score.

Rachel Yang, partner at Giant Leap, tied the investment case to both social need and reimbursement traction.

"Alcohol harm is far more pervasive than most people realise, and the consequences extend well beyond the individual, flowing through to workplaces, communities, families and children bearing the hidden cost.

Despite this, stigma and outdated treatment models mean many people delay or avoid seeking care altogether. Clean Slate represents a fundamentally better model.

What's compelling is not just the accessibility and clinical impact, but the commercial validation. The company has achieved strong year-on-year growth and secured reimbursement coverage across the majority of Australia's private health insurers. It's a rare example of a solution that is better for patients, payers and the healthcare system as a whole," said Yang.

Clean Slate said the latest raise positions it for a larger Series A round of $10 million. The company has built its model around medicated withdrawal and recovery support for people with alcohol, stimulant or cannabis dependence, although alcohol treatment remains the focus of the current announcement.