Brooklyn, New York-based virtual psychiatric care provider Valera Health has raised $44.5 million in a heretofore unannounced funding round.
Twelve investors participated in the round, which was first spotted by Exits & Outcomes. The first sale for this round occurred at the end of August, according to a new filing with the Securities and Exchange Commission.
The precise use of the funds and the names of the investors involved are not clear at this time. Behavioral Health Business has requested comment from Valera Health. This story may be updated.
This brings the company’s total raise to $64.2 million, according to SEC filings. About a year ago, the company raised $15 million in an oversubscribed Series A extension fundraising round. New York City-based Windham Venture Partners led that previous round.
Valera Health Co-Founder and CEO Dr. Thomas Tsang told BHB that his company treats both pediatric and adult patients with mild conditions as well as serious mental illnesses (SMI). Such an approach simplifies things for the health care providers that it partners with.
Founded in 2015, Valera Health until recently has been an exclusively telehealth-based provider. It opened its first office location in Manhattan and is in its “very early days” of considering other office locations, Tsang said.
The company’s specific offerings include therapy, medication management and case management.
Valera employs about 400 providers and is available to 37 million lives across its Medicaid, Medicare and commercial health plan partnerships, according to previous BHB reporting.
“Every single health partner has welcomed us with open arms and said, ‘We need you, we want you, our patients need you,’” Tsang said in a previous interview. “We’re thrilled to see that type of reception.”