UnitedHealthcare has selected two mental health startups as part of its health care accelerator.
Last week, the large commercial payer announced digital mental health company Mood Health and substance use disorder-focused startup YourPath would be part of its 4-month accelerator program.
A total of 10 health care startups were selected to participate in the Minneapolis, Minnesota-based program. UnitedHealthcare is the insurance arm of UnitedHealth Group Inc. (NYSE: UNH), one of the largest health care companies in the world.
“Now in our fourth year, the UnitedHealthcare Accelerator continues to prove itself as a valuable tool helping us [develop solutions] for some of the most pressing challenges in health care,” Kaylene Thompson, vice president of innovation at UnitedHealthcare, said in a statement. “We’ve built an amazing community of startups, mentors and leaders with diverse perspectives and experiences that enable the companies to flourish.”
YourPath is focused on helping individuals with substance use disorder (SUD) get access to treatment. Its services include comprehensive assessments and referrals, medication assisted treatment, counseling and coaching, and care coordination.
The Saint Paul, Minnesota-based company was founded in 2020 and has raised about $500,000, according to PitchBook.
Mood Health is looking to help individuals seeking mental health resources get care.
Its clients are able to take a virtual quiz and then get matched with a clinician. After that, the customer and clinician have a video call to talk about next steps and design a care plan. Once the client begins treatment, they can get prescriptions and plan follow-up visits.
Its platform also includes a mood tracker.
The Miami, Florida-based startup was founded in 2019, according to Crunchbase.
UnitedHealthcare’s Accelerator program
The companies in UnitedHealth’s new cohort will have access to a network of internal and external mentors. The mentors have a variety of expertise in areas including tech, strategy, clinical, marketing and finance.
Startups are granted $50,000 of uncapped SAFE. Additionally, the program provides fund raising support to startups in the future.
Entrepreneurs in the program will also have access to UnitedHealthcare’s clinical health information, technology and clinical expertise.
In addition to the mental health startups, accelerator companies include Delfina, a data platform for pregnancy care; Ferrum Health, an AI solution for early-disease detection; and Live Chair Health, which describes itself as “culturally relevant” member engagement and activation arm for health plans and systems.
ORX Surgical, PayGround, Pluto Health, Tembo Health and WellTheory are among this year’s cohort as well.
“We are thrilled to welcome our newest cohort into our community and are excited for the positive impact we can have on health together,” Thompson continued.
Contextually, Mood Health and YourPath will have to cut it in an increasingly competitive landscape for mental health companies.
In 2021 digital mental health companies saw an unprecedented amount of funding. However, deals have slowed in 2022. A number of companies including Equip, Lyra, and Brightline have closed funding rounds this year.
Companies featured in this article:
