Investment in Mental Health Tech Up Nearly Fivefold Since 2014

Global investment into mental health technology has increased nearly fivefold since 2014, according to a recent study published by London-based early stage venture capital giant Octopus Ventures.

The findings were originally conveyed in pounds, but Behavioral Health Business converted them to dollars using the exchange rate as of Feb. 24.

In 2014, investors worldwide funneled about $155 million — or £120 million — into mental health technology. That amount jumped to more than $748 million — or £580 million — in 2019. 


During the same time period, the number of deals in the sector also spiked, as did the average size of funding rounds.

In 2014, there were 30 deals globally, according to the report, with the average funding round bringing in about $851,400. Last year, there were 105 deals, and the average funding round grew to nearly $2.5 million. 

To reach the findings, researchers analyzed six years of Pitchbook data, covering thousands of deals, companies and investors across the globe.


American companies Big Health and Calm, both founded in 2010 and based in San Francisco, were among the standout startups called out in the report. 

Big Health offers digital therapy for insomnia and anxiety through an app and has raised more than $15.3 million to date, according to the fundraising tracker Crunchbase.

Meanwhile, Calm — which also uses an app to help people cope with anxiety, stress and insomnia — has raised $143 million, according to Crunchbase.

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