LunaJoy raises $2.4M to provide mental health services for women

Steven Loeb · January 4, 2023 · Short URL: https://vator.tv/n/55e2

The company offers virtual care services for women in all stages of life, from puberty to menopause

As the mental health crisis continues to grow, and companies in the mental health space continue to raise funding, there also seems to be some growing awareness that not all people experience mental health the same way; different groups have different challenges and needs that have to be addressed.

For example, according to the Maternal Mental Health Leadership Alliance, maternal mental health conditions are the most common complications of pregnancy and childbirth, affecting 800,000, women each year in the U.S, and the CDC has found that mental health is leading cause of pregnancy-related death.

Sisters-in-law Sipra Laddha and Shama Rathi both experienced postpartum depression, which is what led them to found LunaJoy, a provider of mental health therapy, counseling, and medication management designed with girls and women in mind (though the company does note that it also treats men, especially those going through anxiety, depression, and transitions).

On Wednesday, the St. Petersburg-based startup raised $2.4 million in seed funding from Emmeline Ventures, Axios reported. The company had previously raised a $1.9 million round after joining the Y Combinator tech accelerator program in 2021, as well as an undisclosed amount of funding in March from MAGIC Fund and Asymmetry Ventures.

To get started on LunaCare, users tell the company how they've been feeling by filling out a short form, such as if they are going through puberty or menopause, if they are pregnant or postpartum, if they are dealing with infertility, or just feeling anxious or down. After that they will be matched to one of LunaJoy's clinicians based on their needs in about 24 hours.

Once matched, users receive one on one telemedicine sessions, wellness tools, and a holistic care plan that’s designed for them, as well as 24/7 access to the company's care navigation team.

LunaJoy also provides medication matching for patients who have prescriptions in their care plan; it performs a cheek swab that lets their therapist know how they might react to medications based on their DNA.

"Care can't be one-size-fits-all when women are going through unique life and reproductive transitions," Rathi told Axios.

So far, more than 1,000 clients have used the site. LunaJoy is contracted with Cigna, Aetna, Humana and Magellan, and is licensed in 17 states, including Alaska, California, Colorado, Florida, Illinois, Georgia, Nebraska, New Jersey, New York, and North Carolina.

Mental health companies focused on women and mothers

LunaJoy is among a handful of mental health companies that put a specific focus on women, including Canopie, which is dedicated to providing mental health resources to pregnant women and new moms; the company announced an undisclosed amount of funding in July.

Other sites include She Matters, an online platform and mobile app designed to support Black women/WOC who experience postpartum comorbidities, which raised $1.5 million in August, and Caraway, a digital healthcare company for college women+ that provides integrated mental, reproductive and physical healthcare services, which raised $10.5 million in July.

There are also companies that provide care for women that includes mental health, such as Tia, a provider of in-person and virtual physical, mental and reproductive healthcare, which has raised over $132 million in funding; and Maven Clinic, a provider of virtual care for women and families, which recently raised a $90 million round.

In April of 2022, Brave Health, a virtual-first behavioral health provider, partnered with The Doula Network (TDN), a Medicaid provider committed to improving access to doula care and expanding reimbursement for doula services.

VatorNews reached out to LunaJoy for additional comment on the new funding round, but they could not be reached at this time

(Image source: hellolunajoy.com)