Aptihealth Inc. announced Wednesday that it landed $50 million as part of its Series B funding round.
To date, The Boston-based high-acuity digital behavioral health provider said it has raised $65 million since launching in 2018.
Aptihealth provides telebehavioral health in partnership with other health care providers through its tech platform to better connect care and to track and drive better outcomes.
“There’s an urgent need to better address higher acuity behavioral health conditions that affect tens of millions of people each year,” Aptihealth CEO Dan Pickett said in a news release. “With the patient at the center, we are redesigning care by empowering comprehensive care teams with unprecedented data, insights, and digital tools to improve efficacy and efficiency.”
The round included investors Takeda Digital Ventures, Pivotal Life Sciences, Vista Credit Partners, Olive Tree Ventures, Claritas Capital and What If Ventures.
New York City-based Hudson River Capital Holdings is the company’s largest shareholder and a founding investor. Pickett was president of Hudson River Capital before joining Aptihealth.
Locust Walk Partners LLC served as transaction adviser to Aptihealth.
“Takeda Digital Ventures’ investment in Aptihealth advances our mission to partner with companies that offer life-changing care through cutting edge innovation,” Bruce Meadows, managing partner at Takeda Digital Ventures, said in the release. “Aptihealth’s virtual first care model does just that—providing precise, personalized care that substantially improves clinical quality and outcomes while increasing value for payers.
“We are energized by Dan and the team and believe Aptihealth is positioned to become the leader in higher acuity behavioral healthcare.”
In July, Aptihealth hired its first chief psychiatric officer: Kevin Martin. He spent more than 20 years as the chief medical officer at Four Winds Saratoga psychiatric hospital. Last year, the company built out a major portion of its top executive team.
Aptihealth hired Pickett, Chief Clinical and Science Officer Alex Marsal, Chief Marketing Officer Kori-Ann Taylor and Clinical Operations Director Joe Kelly in April 2020. It also hired CFO Dale Dutile in September and President of Corporate Strategy/Chief of Staff to the CEO Matt Brocks in October.
The company employs over 120 people and has 27 health plans, health systems, and physician practice customers, the release states.