Pomelo Care Secures $46M Series B; International Mental Health Co. Lands $20M

Pomelo Care raises $46 million for maternal health platform

Venture capital firms First Round Capital and Andreessen Horowitz (a16z) Bio + Health led Pomelo Care’s Series B round. 

The digital health company will use the funds to increase payer partnerships. Pomelo Care provides maternal and newborn services. Its care model is based on analyses of claims and health record data. The company proactively seeks to identify risk factors in pregnancy and after delivery to deliver better care outcomes.

“Pomelo is one among a small set of health tech companies that have earned true scale,” Dr. Vineeta Agarwala, general partner at a16z Bio + Health and Pomelo Care board member, said in a news release. “This scale is evident in our partnerships with major Medicaid and commercial plans covering over 3 million lives, which create the opportunity to collaborate with OB providers, labor and delivery wards, and NICUs nationwide, while serving hundreds of thousands of expecting mothers and newborns with high quality, technology-enabled care.”

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Pomelo Care has published research showing that it increases the rate of mental health screenings by new mothers seven-times, leading to a 40% reduction in perinatal depression risk.

CNY hospitals get $40M for new mental health programs 

New York Governor Kathy Hochul announced $39.1 million in state funding with nine hospitals to create emergency psychiatric departments.

The initiative is meant to increase immediate care for those in psychiatric crises. In a news release, the governor’s office called “comprehensive psychiatric emergency programs” a primary entry point for the collective behavioral health system. These programs are meant to provide a wide spectrum of services and can retain patients for up to 72 hours.

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The programs backed by the grant money also include mobile crisis services. Once established, New York will have 31 comprehensive psychiatric emergency programs.

Canary Speech lands $13M

The Provo, Utah-based startup Canary Speech Inc. raised a $13 million Series A round.

C​​ortes Capital LLC, Sorenson Communications LLC., SMK (Japan) and Hackensack Meridian Health led the round.

The company uses biomarkers to assess and track mental health and neurological disorders. Canary Speech has secured nine patents that back its services. The funding will go to expanding the company’s team to support its growth.

Canary Capital says its AI-backed services allow application programming interface (API) access to its technology, which could be used in contact centers, ambient clinical listening, remote patient monitoring and annual wellness checks.

“There are technologies that truly disrupt the way healthcare is administered, and Canary is committed to pioneering vocal biomarkers and ambient listening for the betterment of healthcare,” Henry O’Connell, co-founder and CEO of Canary Speech, said in a news release.

Fledgling mental health provider ifeel secures $20M

Madrid, Spain-based ifeel raised $20 million in a Series B round led by the firms FinTLV Ventures and Korelya Capital. SCOR Ventures, Nauta, and UNIQA Ventures also participated in the round.

The company has secured $40 million since its launch in 2017, according to a blog post on the company’s website. Originally launched as a direct-to-consumer therapy company, it now works directly with health plans and employers.

ifeel uses AI to power initial assessments to tailor a treatment plan for users and support self-care. Its previous funding round totaled $10.7 million. The company will use the funding to expand in existing and into new markets. It will also fund new product development.

The company employs more than 600 psychologists who speak 26 languages and practice in 30 countries.

ifeel helps companies gain data-based insights into the mental health of their workforces to help inform business decisions and address population-level health costs regarding disability, productivity and health claims.

3LS Ventures Inc. makes an investment in college sports mental health company

The venture capital arm of Nashville, Tennessee-based 3LS Inc. made another investment in a company that caters to college students.

3LS Ventures announced in June that it had made a “strategic investment” in The Zone, a company that helps student athletes monitor and improve their mental health. The platform uses content and telehealth to do so. It is used by Lehigh University, Seton Hill University, and the University of North Carolina Asheville, according to a news release.

The announcement did not disclose a funding amount. Public documents show that The Zone disclosed a $600,000 debt financing round to the U.S. Securities and Exchange Commission.

3LS Inc. announced the creation of 3LS Ventures in November 2023. At the time, it described the initiative as a “new behavioral health venture studio.” 3LS Ventures has also invested in HopeNation Campus, a provider of somatic-based trauma intervention programs for universities.

3LS Ventures first investment was in Attend Behavior, a digital startup that aids parents of children with autism through educational content and tools.

Mental health app for teams gets $1.5M

INVI MindHealth secured a $1.5 million seed round for its team-focused mental health tracking and tools app. The app uses biometric data, including those from wearables, and other inputs to track and score user’s mental health. It also creates a buddy system that helps users get or receive support from other team members or team leaders.

The funding will go to improving the app’s user interface, integrate more content and develop a new team leader dashboard called Overwatch, which will allow the leaders to monitor teams of users.

The company was founded in 2020 by CEO Jonathan Wilson while studying at the University of Oxford “after multiple SEAL Team teammates of mine took their lives,” a news release states.

Wilson is formerly a Navy SEAL and an equity trader for Goldman Sachs.

The company partners with government agencies and first responders to enhance understanding of employee mental health and mitigate the impact of high-stress environments. It is also partnering with an unspecified Texas university on the impact of psychedelic therapy on veterans with PTSD.

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