Woebot Health — a digital therapeutics provider that specializes in mental health treatment — has raised $90 million in Series B funding, bringing its total funding raised up to $114 million. The company announced the news Wednesday.
JAZZ Venture Partners and Temasek co-led the round, with additional participation from funds and accounts managed by BlackRock Private Equity Partners and Owl Ventures. Mirae Asset Capital, Kicker Ventures, Alumni Ventures and Gaingels also participated, as did existing investors NEA and AI Fund.
Founded in 2017, Woebot Health builds AI-powered tools and technologies to help treat mental health conditions. Its relational agent Woebot creates a human-level therapeutic bond with users to deliver responsive, engaging behavioral health treatment via scalable software applications.
The company plans to use its new funding to further develop its relational platform and technologies, advance its lead digital therapeutic candidates and expand its team and go-to-market activities.
“We’re at a moment when mental health issues are front and center in a global conversation, and there’s incredible momentum to apply cutting-edge approaches to help solve real human problems,” Woebot Health CEO Michael Evers said in a press release announcing the news. “It’s gratifying that some of the world’s leading investment groups see the same potential for relational technologies to deeply engage people in their mental health at scale, and to transform care. We’re thrilled they are aligned on our core vision and energized by their commitment to advance the next frontier of technology-enabled mental health care.”
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