Denver-based The Collective Integrated Behavioral Health raised $11 million, the firm’s second funding round in as many years.

The hybrid outpatient behavioral health provider is expanding beyond its home state of Colorado. Evan Lengerich, co-founder and CEO, told Behavioral Health Business in October it had acquired a practice in New York City’s Union Square.

The Collective lists six offices in Colorado. It also has offerings in Texas and Maryland. It hired Darcie Surinak as market president in November.

It’s not yet clear what initiatives the investment will fund. The company has not responded to a request for comment. This story may be updated.

A year ago, the company disclosed raising $16 million.

Lengerich founded and opened The Collective in 2019. It offers care in person and via telehealth. Its specific services include individual and group therapy, psychiatry services and yoga therapy.

Part of The Collective’s strategy is to put offices in identifiable, consumer-centric real estate that makes for good customer experiences. These include Class A and Class B office spaces. Some of its leased locations are in former accounting or attorney’s offices, Lengerich said.

This is an example of behavioral health operators seeking to make the most of investment dollars by leasing rather than owning real estate.

In October, Lengerich said The Collective had plans to open 10 to 15 locations in the New York tri-state area.

Investment in early-state and digital behavioral health companies is coming off a banner year in 2021. While much lower compared to 2021, the year 2022 saw the historic trend of consistent year-over-year increases in behavioral health continue in comparison to 2020.

Interest in behavioral health providers as an investment continues.

BHB recently reported that youth residential behavioral health provider Muir Wood secured an undisclosed amount of private equity investment. Array Behavioral Care secured a $25 million funding round led by CVS Health Ventures.

Behavioral health tech also commands international interest. Inflow, an ADHD self-management app, secured funding from several international venture capital firms.

Also based in Denver, Soar Autism Center landed $16 million to expand its footprint.