Vitalic, a new senior-focused behavioral health provider, has hit the market with $4 million in seed funding.
Payvider VNS Health and venture capital investment firm Redesign Health are the company’s first investors. Vitalic’s virtual care model focuses on geriatric psychiatry, including therapy, coaching and medication management.
“Despite the fact that this population continues to grow, targeted efforts to address seniors’ specific needs and impact on the healthcare industry have been too small and fallen far short,” Ben Gardner, CEO and co-founder of Vitalic, said in a statement. “Our team-based approach supports patients through challenges including medication management, behavioral issues, and psychosocial struggles.”
Gardner previously served as senior vice president of sales at virtual psychiatry and therapy practice Array Behavioral Care. The company’s other co-founders, Michelle Hoy and Daniel Tan, are also behavioral health veterans, previously working at Mind Springs Health and Lyra Health, respectively.
Boston-based Vitalic works with Medicare Advantage plans and risk-bearing providers, aiming to improve member outcomes and reduce the total cost of care.
The Vitalic platform uses a “proprietary engagement model” to identify high-cost health plan members with multiple conditions and untreated behavioral health challenges. Vitalic reaches out to these members directly to enroll them in its care plan, which leverages predictive modeling and risk stratification.
“Every day, our skilled clinical teams overcome enormous challenges in delivering high-quality patient and member care to older adults with complex, complicated care needs,” Dan Savitt, president and CEO of VNS Health, said in a statement. “Vitalic’s innovation and expertise in behavioral health, the most overlooked element of whole-person care, allow us to provide specialized mental health care not previously accessible to our members while reducing total cost of care.”
The company is currently hiring social workers, therapists, counselors, certified coaches, psychiatric nurse practitioners and geriatric psychiatrists, according to its site. Clinicians provide care through a collaborative model specifically designed for older adults.
While some founders and leaders have described a difficult investment environment, multiple behavioral health companies have closed funding rounds in recent months.
Serious mental illness startup Amae Health raised $6 million earlier this month.
In November, autism care provider Cortica raised $80 million. The same month, workplace mental health provider Kyan Health raised $16.7 million to expand to the U.S., AI-powered mental health platform Jimini raised $8 million, pediatric behavioral health provider Fort Health raised $5.5 million and digital trauma and PTSD treatment startup Nema Health raised $14 million.