Monument (company)
| Company type | Private |
|---|---|
| Industry | Telemedicine, Healthcare |
| Founded | January 1, 2020 in New York City, United States |
| Founder | Mike Russell |
| Headquarters | New York City , United States |
Area served | Worldwide |
| Products | Online care for alcohol use disorder (therapy, physician consultations, support groups) |
| Website | www |
Monument Inc. operates as a telemedicine provider specializing in online care for individuals with alcohol use disorder. Its services encompass therapy sessions, consultations with physicians, and support group meetings conducted through video conferencing. Established in New York City in 2020 by Mike Russell, Monument had amassed a user base exceeding 100,000 by 2023.
History
Following the sale of his third startup, Paintzen, Mike Russell founded Monument, driven by his own experience with alcohol use disorder. The company raised $7.5 million in seed capital during 2019 and officially commenced operations in early 2020.
Monument broadened its reach in 2022 by acquiring Tempest, a digital platform dedicated to alcohol recovery.
In March 2023, the company revealed that it had unintentionally exposed sensitive user information to corporations including Facebook, Google, Microsoft, and Pinterest via website tracking tools, which were promptly eliminated.
By April 2024, the Federal Trade Commission imposed a $2.5 million penalty on Monument and prohibited the firm from disclosing users' health data to third parties for advertising purposes, citing violations of the Opioid Addiction Recovery Fraud Prevention Act of 2018.