2021’s Largest Funding Rounds in Behavioral Health

The behavioral health industry has seen a large number of funding deals in 2021. Behavioral Health Business has put together a collection of the largest funding rounds in behavioral health to give you a better idea of who those companies are.

Spring Health Hits $2B Valuation After New $190M Funding Round

Behavioral health benefits company Spring Health announced Thursday that it has raised $190 million in a Series C round led by Swedish growth investment firm Kinnevik.

The round included a number of participants, including several existing investors, as well as the Guardian Life Insurance Company of America, which is a new investor. Read More


Cerebral Reaches $1.2B Valuation After Raising $127M in New Funding

The digital mental health company Cerebral has raised $127 million in new funding, pushing its valuation to $1.23 billion, according to Bloomberg. Billionaire Len Blavatnik’s Access Industries led the round, with Nami Park, an adviser to Access, joining the company’s board, the publication reported. Read More

Brightline Hauls in $72M in Funding, Plans to Expand

Brightline — which provides virtual behavioral health assistance to children, teenagers and families — announced Wednesday that it has results from a new funding round and will be expanding its offerings. The Palo Alto, California-based company pulled in $72 million in a pre-emptive Series B funding round led by GV (formerly Google Ventures), along with participation from new investors Optum Ventures, 7wireVentures and Gaingels. Read More

Quit Genius Nabs $64M in Series B Funding

Virtual addiction treatment platform Quit Genius has raised $64 million in an oversubscribed Series B round, the company announced Monday. The round was led by European investment firms Kinnevik and Atomico. Octopus Ventures, Triple Point Ventures and Startup Health — all of whom contributed to Quit Genius’ Series A round last year — also participated. Read More


Comprehensive Autism Company Cortica Nets $60M in Series C Funding

Cortica, a technology-enabled autism treatment provider, has raised $60 million in an oversubscribed Series C funding round, the company announced Tuesday. Longitude Capital led the round, with additional participation from new and existing investors such as Questa Capital, Aperture Venture Partners, 406 Ventures and Adam Boehler, who is the CEO of health care investment firm Rubicon Partners and the founder of in-home care company Landmark Health. Read More

Quartet Health Lands New $60M of Funding, Plans to be in 30 States by End of 2022

Quartet Health Inc. raised $60 million in a funding round that was led by the Philadelphia-based insurance company Independence Health Group.

The New York City-based behavioral health technology company announced Thursday that existing investors GV and Oak HC/FT also joined the round, which brings the total amount raised to $222 million since 2014. Read More

Ophelia Health, a Virtual Opioid Use Disorder Provider, Raises $50M in Funding

Digital-enabled opioid use disorder treatment provider Ophelia Health Inc. raised $50 million in a Series B funding round.

The New York City-based company announced Tuesday that Tiger Global Management LLC, also based in the Big Apple, led the round which also saw participation from Good Friends, Menlo Ventures, General Catalyst, Refactor Capital, 640 Oxford Ventures, Interplay Ventures and PillPack Founder Elliot Cohen. Read More

Virtual Behavioral Care Provider Meru Health Scores $38M in Latest Funding Round

Meru Health — which provides online-led solutions to treat various behavioral conditions — has raised $38 million in a Series B round led by Industry Ventures. The latest funding raised by the San Mateo, California-based company was announced. Read More

Crisis stabilization company raises $30M in growth funding

Connections Health Solutions, a Phoenix-based crisis stabilization company, has raised $30 million in growth financing from the private equity firm Heritage Group. The funding will help fuel the national expansion of Connections’ behavioral health crisis services model, the company said. Read More

Ellipsis raises $26M

Behavioral health artificial intelligence (AI) company Ellipsis Health has scored $26 million in Series A funding. SJF Ventures led the round, with additional participation from firms such as AblePartners, Alumni Ventures, Generator Ventures, Greycroft Partners, Khosla Ventures and Luminous Ventures, among other investors. Read More

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