Brightside Health Raises $50M in Series B to Expand Behavioral Services, Grow Staff

Digital behavioral care provider Brightside Health has raised $50 million in a Series B funding round led by ACME Capital and Mousse Partners. 

The latest round brings the amount raised to date by San Francisco-based Brightside to $75 million. The company last year raised $24 million in a Series A round.

Existing investors that participated in the latest round included Bullpen Capital, Triventures and Trousdale Ventures.

“As a long-term investor, we look for opportunities to partner with ambitious founders and management teams committed to transforming industries,” Paul Yun, the co-head of private equity directs for Mousse Partners, said in a press release issued by Brightside. “We are thrilled to be supporting Brightside Health’s mission of increasing access to high quality, personalized, and clinically-proven mental health care.”

Founded in 2017, Brightside provides users with therapy, medication or both for anxiety and depression. Brightside’s provider network includes psychiatrists, physicians, psychiatric nurse practitioners and therapists.

After completing a free mental health evaluation, users can be given an appointment within 48 hours for a comprehensive evaluation and personalized treatment plan. The treatment plan is derived using a proprietary machine-based algorithm to evaluate over 100 data points about an individual.

Prescribed medications are delivered to users’ homes, with video visits, unlimited messaging and check-ins available to track progress. Brightside’s medication and therapy plans are available in all 50 states.

Brightside’s medication plans cost $95 per month plus a copay charge. The company’s therapy sessions cost $299 per month and a combination of medication and therapy costs $349 per month in addition to a copay fee.

Brightside claims that 86% of its users experience clinically significant improvement. The company also asserts that a recent study proves that its services generate over 50% higher treatment response and remission rates than a leading U.S. health system. Additionally, the company states that 71% of users are able to achieve remission levels within the first 12 weeks of treatment.

Brightside said that it would use the funding from its latest round to grow its employee team this year from 57 to 175, in addition to expanding services through partnerships and enhancements.

“Because we stand behind the quality and accountability of our care model, we are happy to put our dollars behind delivering the best possible outcomes and open up the path to true value-based care in mental health,” Brightside Health CEO Brad Kittredge said in the press release.