Pediatric behavioral health provider InStride Health has raised $30 million in Series B funding.
General Catalyst led the round with participation from .406 Ventures, Valtruis, Mass General Brigham Ventures and Hopelab Foundation. This new funding round brings the company’s total raise to $56 million and comes roughly a year and a half after the company closed its $26 million Series A funding round.
The company plans to use the new capital to expand into new markets and invest in clinical quality.
“We believe InStride is at the forefront of helping to democratize accessible, high-quality behavioral health care through its unique clinical model and innovative approach to delivering care, and we look forward to helping them grow,” Candace Richardson, partner at General Catalyst, said in a statement.
InStride virtually treats children and teens with anxiety and obsessive-compulsive disorder (OCD). Its care teams include a psychiatrist, therapist and exposure coach. Patients can access tailored care plans, including one-on-one therapy, group therapy, coaching and medication management.
Anxiety disorders are common among children and teens. Approximately 9.4% of children aged 3 to 17 have anxiety, according to the CDC.
“We’re on a mission to help kids, teens, and young adults with anxiety and OCD. We aim to expand our specialty clinical services to provide the same care and accessibility we’d want for our loved ones,” John Voith, co-founder and CEO of InStride Health, said in a statement. “Thanks to the dedication of our amazing team, partners, and investors, we are thrilled to continue to expand our supportive ecosystem for the kids and families we serve.”
The company accepts most major insurance plans in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Rhode Island. It plans to soon cover Maine as well.
InStride previously announced a partnership with Mass General Brigham’s McLean Hospital, a Massachusetts-based psychiatric hospital, to deliver care.
InStride isn’t the only behavioral health startup looking to help solve the pediatric mental health crisis. Hybrid mental health provider Blackbird Health cares for children and young people aged 2 to 26 with anxiety, depression, ADHD, speech and language differences and other behavioral health concerns. It recently landed $17 million in Series A funding.
Additionally, virtual behavioral health care company Fort Health works with pediatricians on collaborative care. Fort Health raised nearly $9 million in 2023, bringing its total fund raise to $10.5 million.
Companies featured in this article:
