Digital psychological well being firm Courageous Well being scooped up $40 million in a Sequence C funding spherical led by City Corridor Ventures.
Current traders, together with Union Sq. Ventures and Metropolis Mild Capital, additionally participated, bringing the startup’s whole funding pot to $60 million. Courageous final introduced a $10 million Sequence B a couple of 12 months in the past.
WHAT IT DOES
Courageous offers digital remedy, psychiatry and drugs administration for psychological well being considerations and substance use issues. The corporate, which launched with well being plans in Florida in 2019, focuses on the Medicaid market.
Courageous now provides providers in 18 states, and earlier this summer season introduced it had entered into its first value-based care association with Molina Healthcare of Texas. It additionally lately partnered with the Doula Community, a service that pairs pregnant Medicaid sufferers with doulas with a view to provide maternal psychological healthcare.
The digital psychological healthcare supplier stated it can use the capital from the Sequence C spherical so as to add extra value-based care contracts, increase in new and current markets, and proceed to construct out its know-how and knowledge infrastructure.
“Innovation in Medicaid care supply and reimbursement fashions is essential for our healthcare system,” Anna Lindow, cofounder and CEO of Courageous Well being, stated in a press release. “As we speak, we’re energized by the keenness from our forward-looking traders and well being plan companions round this purpose.”
Psychological well being continues to be a main scientific space for digital well being funding because the nation manages the impression of the COVID-19 pandemic and a scarcity of psychological well being clinicians.
In line with a difficulty transient by the Kaiser Household Basis, Medicaid performs an essential position in offering entry to behavioral healthcare. In 2020, this system lined 23% of nonelderly adults with a psychological sickness, 26% of them with a critical psychological sickness and 22% with substance use dysfunction. Medicaid lined solely 18% of the final nonelderly inhabitants.
One other teletherapy and psychiatry firm, Wise Care, lately raised $13 million in Sequence A funding. It plans to make use of the funding to increase in states with giant populations of sufferers lined below TRICARE, well being plans for navy service members and their households.
Iris Telehealth, which provides digital remedy and psychiatric care by way of partnerships with suppliers like well being techniques, hospitals and neighborhood well being facilities, introduced a $40 million Sequence B this spring.