BeMe Health has raised $12.5 million in anticipation of a Series A round.

The Miami, Florida-based teen-focused digital mental health provider announced Thursday that the funding comes from growth capital investor Hesperia Capital.

“BeMe takes a different approach to the mental health issues faced during this formative stage of life and is laying the groundwork for healthier futures,” Michael Papile, co-founder of Hesperia Capital, said in a news release.

The funding will help BeMe improve its technology and market itself. BeMe did not say when it would be announcing its Series A.

BeMe offers teams access to age-specific support content and interactive tools to help maintain mental wellness. It also offers one-on-one coaching, tailored interventions and crisis support.

“These investments allow us to provide the best possible support for teens struggling with mental health issues,” Dr. Nicoletta Tessler, CEO and co-founder of BeMe Health, said in the release.

Including this newly announced funding round, BeMe Health has raised $27.2 million, according to Crunchbase. Most recently, that funding included a $1.5 million investment from Blue Cross and Blue Shield of Kansas. That funding also came with a partnership with the health plan to serve teens. 

The company was founded in 2021. Venture capital funding has been tight for smaller and newer ventures in recent years, with no exception for 2024. Larger and more proven startups are getting the lion’s share of investment dollars. For example, Talkiatry, a digital psychiatry provider, landed a $130 million funding round, announced in June. In April, the hybrid therapy company Two Chairs secured $72 million.

Teens in the U.S. reported fewer depressive episodes, down 13% in 2023, according to a large survey of mental health and drug use by the federal government. The same data show that 40% of those experiencing depressive episodes did not get treatment.

Providing mental health services to student-aged Americans is a very popular venture. On top of serving a deserving population, the pandemic revealed and worsened unaddressed mental health issues among American youth. Several ventures have launched in the space and are chasing venture capital dollars. These include Backpack Health, Blackbird Health and Marble.

Other organizations are looking at youth services as a way to expand services. For example, digital addiction treatment provider Bicycle Health announced the creation of a teen services line in July.