January 15, 2021
Mental health companies that have raised funding so far in 2022
Funding to mental health companies dropped 60% in Q1, as the VC environment has tightened
Last year was a great year for the mental health space, and digital health in general: companies brought in $5.5 billion globally across 324 deals, a 139% increase year-to-year.
Alas, the good times couldn't last forever: digital health funding is dropping, as is venture funding in general. Funding to mental health companies fell 60% in the first quarter of this year.
To say that this is a tougher funding environment than it was even less than a year ago is an understatement, but there's always a silver lining: it's time like these when the good companies get separated from the bad. The cream rises to the top, as they say, so for companies to be able to raise in this environment likely means they are the companies that should be funded.
Here's a list of the companies in the mental health space that have raised so far this year.
(If you are a startup in the mental health space and would like pitch in front of top VCs and entrepreneurs in this space at Vator's Future of Behavioral and Mental Health event in October, please answer this questionnaire)
Description: "The research shows that long-term outcomes for moms and their babies are shaped by the wellbeing of the mom. Every mama deserves to have the tools to help manage the inevitable ups and downs of this transition."
Founded: 2020
Amount raised: Undisclosed
Date raised: July 6, 2022
Investors: Virginia Venture Partners
Total funding: Unknown
Description: "The music therapy app built to completely reduce stress and anxiety"
Founded: 2017
Amount raised: $800,000
Date raised: March 28, 2022
Investors: Dr. Venus Nicolino
Total funding: $800,000
Thalamos
Description: "Thalamos’ software joins up admission, treatment and discharge care pathways. We support healthcare professionals to provide a swifter, simpler and safer experience for those in need of acute mental healthcare."
Founded: 2018
Amount raised: $1 million
Date raised: September 1, 2022
Investors: Conduit Impact EIS Fund, Syndicate Room
Total funding: $1 million
Cuéntame
Description: "The 3-in-1 platform that identifies, prevents and resolves psychosocial risks in time, by providing personalized tools that improve your personal well-being."
Founded: 2019
Amount raised: $1.1 million
Date raised: September 7, 2022
Investors: Colectivo Jaguara, 99 Startups, Fondation Botnar & New Ventures, Pareto20, Investo
Total funding: $1.1 million
SheMatters
Description: "She Matters Inc. is an online/offline community where tech and wellness meet. The platform was designed to support Black women who experience mental illness by helping them to build healthy habits that can be tracked and openly celebrated."
Founded: 2019
Amount raised: $1.5 million
Date raised: August 10, 2022
Investors: Oxeon Ventures, Chingona Ventures, New York University, The Fund, Techstars
Total funding: $1.5 million
Description: "Humans Anonymous is an anonymous live audio platform that facilitates safe spaces for communities of people with similar life experiences to share their struggles, get advice, and support each other."
Founded: 2021
Amount raised: $1.7 million
Date raised: September 2, 2022
Investors: Looking Glass Capital, Backend Capital, Ten VC, Authentic Ventures
Total funding: $1.7 million
Legion Health
Description: "Legion Health is building the world’s first B2B mental health marketplace, connecting clinicians with companies who need their clinical services."
Founded: 2021
Amount raised: $2 million
Date raised: March 9, 2022
Investors: Erica Johnson, Ravi Shah, Jeffrey Leerink, Jay Desai, Y Combinator, UpHonest Capital, Soma Capital
Total funding: $2 million
MindFi
Description: "End-to-end employee wellbeing and mental healthcare benefits for the future of work. Help employees feel supported and join the #MindFitness movement"
Founded: 2017
Amount raised: $2 million
Date raised: February 14, 2022
Investors: M Venture Partners, Global Founders Capital, Marcus Tan, Kenji Narushima, Derrick Ko
Total funding: $2.9 million
07 Therapy
Description: "O7 Therapy is revolutionizing access to mental health services through a digital platform and mobile app offering online therapy."
Founded: 2019
Amount raised: $2.1 million
Date raised: April 7, 2022
Investors: Hikma Ventures, C-Ventures, Lotus Ventures
Total funding: $2.1 million
Trek Health
Description: "Completing manual tasks to get paid is not part of the job description. Create a better financial experience for mental health providers, payers and patients with Trek Health."
Founded: 2021
Amount raised: $2.7 million
Date raised: September 9, 2022
Investors: Lionheart Ventures, Founder Collective, Jack and Max Altman of Altman Capital, Matt Brezina of Ford Street Ventures, Aaron King, Frederic Kerrest, Clarence So, Rich Menendez
Total funding: $2.7 million 
Ami
Description: "We are the first human centric mental wellness platform in Asia. On a mission to combat workplace burnout, we believe the only solution is through destigmatizing and demystifying the mental health space. At Ami, we provide a safe space for all to be heard. Our highly vetted group of wellness coaches are here to listen, allow you to decompress, and work with you on the best path forward."
Founded: 2021
Amount raised: $3 million
Date raised: May 4, 2022
Investors: Meta, Goodwater Capital, Strong Ventures, January Capital, Collaborative Fund
Total funding: $4 million
Arise
Description: "Eating disorders affect people of all backgrounds, identities, and experiences, yet up to 90% won't get care. We're here to change that — with support that works for real people, in real life."
Founded: 2022
Amount raised: $4 million
Date raised: July 11, 2022
Investors: Greycroft, BBG Ventures, Wireframe Ventures, Iyah Romm, Sylvia Romm, Jay Desai
Total funding: $4 million
Wondermind
Description: "Wondermind helps people care for their mental health via daily content, CPG products, and storytelling."
Founded: 2021
Amount raised: $5 million
Date raised: August 11, 2022
Investors: Serena Ventures, Lightspeed Venture Partners, Sequoia Capital
Total funding: $5 million 
Moozoom
Description: "An interactive, innovative “choose your own path” SEL platform where students get to improve their mental wellbeing through modeling videos based on real life scenarios."
Founded: 2020
Amount raised: CA$5 million
Date raised: August 18, 2022
Investors: Amplify Capital, the Telus Pollinator Fund for Good
Total funding: CA$5.8 million
Handspring Health
Description: "Handspring provides quality and evidence-based mental healthcare for children, adolescents, and young adults between the ages of 10 and 24."
Founded: 2021
Amount raised: $6.2 million
Date raised: May 21, 2022
Investors:Newark Venture Partners, NextView Ventures, 25madison Ventures, Arkitekt Ventures, Quantum Angels
Total funding: $6.2 million
Oliva
Description: "Proper mental health support for employees"
Founded: 2020
Amount raised: $6.3 million
Date raised: March 24, 2022
Investors: Stride VC, Moonfire
Total funding: $8.6 million
Description: "NOWATCH is a health innovation company with a mission to help people navigate the increasingly fast-paced world of technology. Our flagship product, the NOWATCH Awareable, is the first wearable device to measure a cortisol proxy, predicting stress response and restoring balance for complete mind and body wellbeing."
Founded: 2020
Amount raised: $8.7 million
Date raised: June 15, 2022
Investors: Chris Hall, Flow Ventures
Total funding: $8.7 million
SpectrumAi
Description: "We’re modernizing Applied Behavior Analysis with tools and insights for better care and long-term success."
Founded: 2021
Amount raised: $9 million
Date raised: June 2, 2022
Investors: F-Prime Capital, Frist Cressey Ventures, Autism Impact Fund
Total funding: $9 million
Lumi Interactive
Description: "Kinder World is more than a cozy houseplant game. It’s built with evidence-backed self-care activities at it’s core, designed to improve the mental health and wellbeing of our growing player community."
Founded: 2018
Amount raised: $9 million
Date raised: July 8, 2022
Investors: a16z, 1Up Ventures, Galileo Ventures, Heracles Capital, Emily Greer,
Total funding: A$9.8 million
Woebot Health
Description: "Meet Woebot, your personal mental health ally that helps you get back to feeling like yourself. Grounded in clinical research and powered by AI, Woebot is easy to talk to and fits right into your life, whenever you want to chat. There’s no such thing as appointments or waiting rooms here."
Founded: 201
Amount raised: $9.5 million
Date raised: March 15, 2022
Investors: Leaps by Bayer
Total funding: $123.3 million
Daybreak Health
Description: "Daybreak partners with youth, families, and schools to create personalized, easily accessible, and affordable mental health programs."
Founded: 2019
Amount raised: $10 million
Date raised: March 27, 2022
Investors: Lightspeed, Maven Ventures
Total funding: $11.9 million
Nudj Health
Description: "Nudj Health delivers integrated, whole-person, and continuous care for patients with chronic disease beyond the walls of the doctor’s office. The company provides collaborative care using evidence-based, Medicare approved pathways centered around six interconnected lifestyle areas: stress management, physical activity, sleep quality, social support, behavioral risks and nutrition."
Founded: 2022
Amount raised: $10 million
Date raised: April 13, 2022
Investors: Nebraska Medicine, Teal Ventures, Cohn Family Trust, Health Innovation Pitch
Total funding: $19.8 million
Heard
Description: "Heard combines smart software with real humans to handle bookkeeping, taxes, and payroll for therapists."
Founded: 2019
Amount raised: $10 million
Date raised: May 5, 2022
Investors: Footwork, Founders Co-Op, Act One Ventures
Total funding: $11.3 million
Intellect
Description: "Intellect provides the easiest yet most comprehensive mental health benefits for individuals & workforces. Speak with behavioural health coaches, work with licensed psychologists, or take on self-guided programs, entirely within an app."
Founded: 2019
Amount raised: $10 million; $10 million
Date raised: January 24, 2022; July 18, 2022
Investors: HOF Capital, Headline, East Ventures, MS&AD Ventures, DG Daiwa Ventures. Pioneer Fund, Tiger Global, JAFCO Asia, Singtel Innov8, PERSOL Holdings, K3 Ventures, HOF Capital Insignia Ventures Partners
Total funding: $32.7 million
Caraway
Description: A digital healthcare company for college women+ that provides integrated mental, reproductive and physical healthcare services.
Founded: 2022
Amount raised: $10.5 million
Date raised: July 26, 2022
Investors: 7wireVentures, OMERS Ventures, Hopelab Ventures
Total funding: $10.5 million
Forge Health
Description: "We’ve built a company with the best people in the world at treating and healing addiction, trauma and co-occurring conditions from anywhere. And they’re ready to work with you."
Founded: 2016
Amount raised: $11 million
Date raised: April 11, 2022
Investors: HC9 Ventures
Total funding: $11 million
HealthRhythms
Description: "Mental health care for the modern era of medicine. A platform for real-time objective behavioral health monitoring"
Founded: 2014
Amount raised: $11 million
Date raised: February 3, 2022
Investors: GSR Ventures, Brook Byers
Total funding: $13.1 million
Sensible Care
Description: "Access care through your mobile device. Validate your insurance. Know what you’ll pay and what to expect. Have confidence that your care team has designed a plan that will work for you."
Founded: 2017
Amount raised: $13 million
Date raised: June 30, 2022
Investors: Volition Capital, Skyline Investors
Total funding: $13.5 million
Motivo
Description: "Motivo is a virtual clinical supervision platform that gives employers & pre-licensed clinicians the supervision they need. Whether you need group supervision or licensure hours, we’re here to help."
Founded: 2018
Amount raised: $14 million
Date raised: August 18, 2022
Investors: Cox Enterprises, SteelSky Ventures, Great Oaks Venture Capital
Total funding: $16.2 million
Apollo Neuro
Description: "The Apollo wearable helps your body recover from stress, so you can relax, focus, sleep, and feel better."
Founded: 2016
Amount raised: $15 million
Date raised: March 17, 2022
Investors: Noetic Fund
Total funding: $21.1 million
Psych Hub
Description: "Psych Hub was developed to help people overcome mental health challenges through multimedia education for every learning style. Psych Hub’s robust library of over 1,000 proprietary educational assets includes courses, videos, podcasts, and written & shareable content."
Founded: 2018
Amount raised: $16 million
Date raised: August 25, 2022
Investors: HC9, Frist Cressey Ventures, HealthStream, Emerson Collective, Bailey & Co.
Total funding: $16 million
moka.care
Description: "At moka.care, we believe your employees’ mental health is the key to sustainable growth, for both your teams and your company. And because this is first and foremost a human issue, we offer support that is also human."
Founded: 2019
Amount raised: $16 million
Date raised: May 24, 2022
Investors: Left Lane Capital, Singular, Origins, Antoine Griezmann
Total funding: €17.5 million
MiNDCAFE
Description: "MiNDCAFE provides 'Anonymous Guaranteed Integrated Mental Health Care Service' so that you can no longer suffer alone."
Founded: Unknown
Amount raised: $16.7 million
Date raised: February 10, 2022
Investors: Hashed, E&Investment, K2 Investment, Samsung Next, Insight Equity Partners, GC Green Cross Holdings
Total funding: $17 million 
Talkiatry
Description: "Our mission is to provide high-quality, in-network psychiatric care throughout the United States. We improve patient access and outcomes through responsible innovation, while also benefiting physicians and insurers."
Founded: 2019
Amount raised: $17 million
Date raised: January 27, 2022
Investors: Left Lane Capital
Total funding: $37 million 
Unobravo
Description: "Unobravo is the online psychology service that finds the therapist best suited to your needs and preferences among over 2000 professionals, for an excellent online psychological therapy."
Founded: 2019
Amount raised: €17 million
Date raised: July 21, 2022
Investors: Insight Partners, Thomas Plantenga, Olivier Bonnet, Rika Christanto
Total funding: €17.2 million 
Eleos Health
Description: "Eleos integrates and automates the entire behavioral care workflow. Freeing clinicians from operational burdens, letting them focus on care itself."
Founded: 2019
Amount raised: $20 million
Date raised: April 5, 2022
Investors: F-Prime Capital, Eight Roads Ventures, aMoon Fund, lool ventures, Arkin Holdings
Total funding: $28 million
Kintsugi
Description: "Kintsugi Voice is an API-first platform that uses novel voice biomarkers in speech to identify, prioritize, and care for mental health in real time. Our technology integrates with call centers, telehealth systems, and remote patient monitoring apps to help more people get the right care at the right time."
Founded: 2019
Amount raised: $20 million
Date raised: February 23, 2022
Investors: Insight Partners, Acrew Capital, Darling Ventures, Citta Capital, Side Door Ventures, Primetime Partners, IT Farm, AngelList Fund, Alpha Edison
Total funding: $29.3 million
Parallel Learning
Description: "Overcome learning challenges with personalized psychoeducational support and supercharge your mental fitness—without leaving the comfort of home."
Founded: 2020
Amount raised: $20 million
Date raised: May 25, 2022
Investors: Tiger Global, Obvious Ventures, JAWS, Vine Ventures
Total funding: $22.8 million
Wysa
Description: "Wysa AI Coach is an artificial intelligence-based 'emotionally intelligent' service which responds to the emotions you express and uses evidence-based cognitive-behavioral techniques (CBT), DBT, meditation, breathing, yoga, motivational interviewing and micro-actions to help you build mental resilience skills and feel better."
Founded: 2015
Amount raised: $22 million
Date raised: July 18, 2022
Investors: HealthQuad, British International Investment, W Health Ventures, Kae Capital, pi Ventures, Google Assistant Investments
Total funding: $29.4 million
Little Otter
Description: "We provide personalized mental healthcare for kids 0-14 that also supports the entire family. We offer specialized, collaborative virtual care designed by experts in childhood and family mental health, delivered through our children’s mental health app.
Description:
Founded: 2020
Amount raised: $22 million
Date raised: January 6, 2022
Investors: CRV, Torch Capital, Vast Ventures, Hinsdale, Boxgroup, _Able, Carrie Penner Walton, G9, Springbank Collective
Total funding: $26.2 million
Mantra Health
Description: "Mantra Health is the first digital mental health clinic that works cohesively with university counseling centers like never before."
Founded: 2018
Amount raised: $22 million
Date raised: January 19, 2022
Investors: VMG Partners, New Market Venture Partners, Elements Health Ventures, 14W, Alumni Ventures, Canaan Partners, Global Founders Capital, Baleon Capital, Western Tech Investments, City Light Capital
Total funding: $29.2 million
Nue Life Health
Description: "We’re a next-gen mental wellness company that believes in the power of psychedelics to catalyze lasting change."
Founded: 2020
Amount raised: $23 million
Date raised: April 19, 2022
Investors: Obvious Ventures, Western Technology Investment
Total funding: $26.3 million 
Minded
Description: "Medication changed our lives. We'll help it change yours, too. Skip the doctor's office and get treatment for anxiety, depression, sleep, and more from home"
Founded: 2020
Amount raised: $25 million
Date raised: February 22, 2022
Investors: Streamlined Ventures, Link Ventures, The Tiger Fund, Unicorn Ventures, Trousdale Ventures, Gaingels, SALT Fund, TheFund,
Total funding: $29.7 million
Boulder Care
Description: "At Boulder, we treat people with substance use disorder (SUD) — including opioid use disorder (OUD) and alcohol use disorder (AUD) — grounded in kindness, respect, and unconditional support."
Founded: 2017
Amount raised: $36 million
Date raised: June 10, 2022
Investors: Qiming Venture Partners, Goodwater Capital, Laerdal Million Lives Fund, First Round Capital, Greycroft, Tusk Venture Partners, Gaingels
Total funding: $50.1 million
Description: "Real is a new kind of mental wellness membership, designed to fit your schedule, comfort level, and needs."
Founded: 2019
Amount raised: $37 million
Date raised: April 12, 2022
Investors: Owl Ventures, Iyah Romm, Dr. Slyvia Romm, Lightspeed Venture Partners, Female Founders Fund, Forerunner Ventures, BBG Ventures
Total funding: $53 million
Description: "People living with mental health conditions deserve the highest standards of safe, effective, life-saving treatment. We are a Public Benefit Corporation accelerating technology and research to ensure access to care for patients of all backgrounds."
Founded: 2020
Amount raised: $40 million
Date raised: May 10, 2022
Investors: DFJ Growth, Susa Ventures, Lachy Groom, Brent Saunders, Helena Goodman, Ariel Katz, General Catalyst, Future Ventures, Tiger Global, Pear VC
Total funding: $57.2 million
Iris Telehealth
Description: "Our mission is to help patients, providers, and healthcare organizations achieve their goals through clinically sound and financially sustainable psychiatry programs."
Founded: 2013
Amount raised: $40 million
Date raised: April 14, 2022
Investors: Concord Health Partners, Columbia Pacific Advisors
Total funding: $40 million
Concert Health
Description: "Concert Health is America’s leading behavioral health medical group. We make it possible for providers and health plans to offer behavioral health services within primary care, with support from our expert clinicians."
Founded: 2016
Amount raised: $42 million
Date raised: April 27, 2022
Investors: Define Ventures, Healthy Ventures, Vertical Venture Partners, Townhall Ventures, CommonSpirit Health, Advent Health
Total funding: $56.5 million
Description: "We support and guide you through the ups and downs of recovery. We’ll help you overcome opioid use disorder and build a life you love."
Founded: 2017
Amount raised: $50 million
Date raised: June 7, 2022
Investors: InterAlpen Partners, Questa Capital, Frist Cressey Ventures, City Light Capital
Total funding: $83 million
Brightside
Description: "Get a personalized treatment plan online and start feeling like you again with medication, therapy or both."
Founded: 2017
Amount raised: $50 million
Date raised: March 29, 2022
Investors: ACME Capital, Mousse Partners, Bullpen Capital, Triventures, Trousdale Ventures
Total funding: $75 million 
Happy Health
Description: "A mission-driven technology company committed to transforming mental health awareness through the Happy Ring, the first wearable for your mind, measuring your stress and mood 24/7"
Founded: 2019
Amount raised: $60 million
Date raised: August 24, 2022
Investors: ARCH Venture Partners
Total funding: $60 million
Description: "Brightline brings exceptional behavioral health care to kids, teens, and their families, when and where they need it"
Founded:
Amount raised: $105 million; $10 million
Date raised: March 29, 2022; July 12, 2022
Investors: KKR, GV, Optum Ventures, Oak HC/FT, Threshold, 7wireVentures, Children's Medical Center Corporation, Blue Cross Blue Shield of Massachusetts, Northwell Health
Total funding: $212 million
Alma
Description: "At Alma, we’re pioneering a new model for mental health care — one that gives providers the autonomy of a private practice with the support of the Alma platform."
Founded: 2018
Amount raised: $130 million
Date raised: August 25, 2022
Investors: Thoma Bravo, Cigna Ventures, Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners, Sound Ventures
Total funding: $220.5 million
Lyra Health
Description: "Lyra is transforming mental health care using intelligent matching technology, concierge support, and an innovative digital platform to deliver a frictionless experience for members, providers, and employers."
Founded: 2015
Amount raised: $235 million
Date raised: January 19, 2022
Investors: Dragoneer, Salesforce Ventures, Coatue
Total funding: $910.1 million
(Image source: thedowneypatriot.com)
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