General Catalyst Backs Mental Health Startup Somethings; Heard Technologies Lands $15M

Spark Biomedical secures $16.2M

Dallas-based Spark Biomedical disclosed raising $16.2 million of a $21.8 million funding round, according to public documents.

The company offers a neurostimulation device that the Food and Drug Administration has cleared to relieve the symptoms of opioid withdrawal. Patients wear a device around their ear for up to 24 hours a day, according to the company’s website.

The FDA cleared the use of the device in January 2021. Called The Sparrow, the device is meant to be used in conjunction with other interventions that aid in opioid withdrawal.

At the beginning of the year, Spark Biomedical announced a multi-year clinical trial at the University of Texas Medical Branch and the Medical University of South Carolina, funded by an $8.8 million grant from the National Institute of Neurological Disorders and Stroke.

Medical devices are something of an oddity in behavioral health. Outside of transcranial magnetic stimulation (TMS) and electroconvulsive therapy (ECT) for treating depression and certain forms of anxiety by a limited number of providers, devices rarely appear in the provision of behavioral health.

Therapy-focused startup Heard Technologies pulls in $15 million

Heard Technologies, an all-in-one bookkeeping software provider for independent mental health clinicians, secured $15 million in a round led by Headline. GGV Capital participated. The round also included follow-on investments from Footwork, Founders’ Co-Op, Act One and Heron Rock.

“Our main focus is on product development, with a particular emphasis on improving key bookkeeping, payroll, and tax workflows for therapists,” Heard Technologies CEO Andrew Riesen said in a blog post. “As we move into the new year, we plan to introduce new financial services, including a self-service, cost-effective solution tailored to therapists in the early stages of their careers.”

About a year ago, the company secured $10 million in Series A funding. It also secured about $1.3 million in a seed round.

The company started as a referral network for therapists seeking new patients and those with full caseloads.

Heading Health raised $4.5M to expand telehealth, TMS and ketamine offerings

Austin, Texas-based Heading Health announced a $4.5 million Series A extension round.

The company previously secured $10 million, according to Crunchbase. Gron Ventures and Jam Fund led the round. Other participating firms included the One Mind Accelerator, Thiel Capital, Mystic Ventures, Gaingels and Antifund, according to a news release

“A segregated and one-dimensional mental health system has failed patients, many who wait too long to experience care that offers real and lasting relief. We’re proud to have the support of like-minded investors who believe this needs to change,” Heading Health CEO and founder Simon Tankel said in the release.

The company offers telehealth services for mental health and TMS, intramuscular ketamine and Spravato treatments at its two offices in Dallas and Austin.

The company’s focus is on customized, in-network, high-rate-of-success treatments. It intends to provide MDMA and psilocybin treatments if federal regulators clear those interventions.

The funding will help Heading Health expand to new markets and enhance its outcomes tracking and data system. The company plans on opening new offices in Dallas and Houston in 2023, according to the release.

Somethings secures $3.2M for youth mental health support

Somethings, a New York City-based virtual mental health support platform for LGBTQ+ youth, raised $3.2 million.

General Catalyst led the round. Coalition Operators, One Mind, Tau Ventures, Gaingels, Plug and Play Ventures, MVP Venture also participated. Other individual investors include Justin Mateen (Tinder), Joshua Browder (DoNotPay), and Jackson Jhin (Protege), according to a blog post from the company.

“At Somethings, we believe that every teen deserves to live their happiest, healthiest life,” the blog states. “To understand why teenagers were struggling, we went out and talked with hundreds of teens. What we learned was really surprising — many of them were avoiding traditional mental health resources.”

The company seeks to provide a more fluid and adaptive experience that mimics the on-and-off nature of digital communication. Specific services from the company include mentor matching, unlimited texting, unlimited live video calls, monthly parent updates and quarterly parent check-ins.

Mentors complete over 40 hours of training, are vetted and supervised by mental health clinicians.

Patrick Gilligan is the company’s CEO.

Anise Health raises $1.2 million pre-seed round for culturally responsive care

New York City-based Anise Health raised $1.2 million from Kicker Ventures, Gold House Ventures, Allston Venture Fund and other angel investors.

The company was launched in 2022 in California to care for people of color. It launched with a focus on Asian Americans. The funding round will help Anise Health expand to New York and establish new payer contracts.

Anise Health promises end-to-end care that addresses unique cultural stressors by training providers to be culturally competent. Specifically, the company provides telehealth for mental health, virtual coaching, group educational sessions and self-guided resources.

“We’re seeing a 97% completion rate of the first four sessions among our clients, compared to 50% POC dropout after one session,” Alice Zhang, co-founder of Anise Health, said in a news release. “And we’re seeing statistically significant symptom improvements in just one month of treatment.”