Suicide prevention provider Vita Health has closed a $22.5 million Series A funding round.
This comes just over a year after the company raised $8.38 million in Seed funding.
The New Haven, Connecticut-based provider offers specialized suicide prevention care via telehealth. The provider focuses on caring for teens and young people. It also provides teletherapy and psychiatry for several other psychiatric conditions.
This funding comes as teen suicide risk continues to rise. From 2011 to 2021, 13% of high school girls attempted suicide and 30% seriously considered it, according to the CDC.
“Our collective motivation was to shift a very deadly curve in our society that has far-reaching and lasting implications for all involved,” said Vita Health co-founder and chief executive officer Lynn Hamilton. “We are humbled by the participation from a broad group of sophisticated, experienced and strategic investors. With a growing roster of health plan partners, provider partners, employers, colleges and universities, we are expanding our reach to directly address the most challenging mental health problems in the U.S.”
CVS Health Ventures, LFE Capital, Athyrium Capital Management, Flare Capital Partners, CU Healthcare Innovation Fund, Connecticut Innovations and HopeLab participated in this funding round.
Founded in 2021, Vita works with its payer, provider, employer and university partners on value-based contracts.
While Vita has continued to raise capital, many digital health companies are seeing venture funding dry up.
Still, several behavioral health tech companies have garnered venture attention. For example, autism provider Cortica closed a $73 million deal in April, pediatric mental health company Bend raised $32 million in March and virtual behavioral health benefits company Spring Health raised $71 million in April.