Not-for-profit behavioral health care provider Rogers Behavioral Health and for-profit workforce mental health provider Lyra Health have forged an alliance. The collaboration, announced Tuesday, gives Lyra access to Rogers’ health plan networks while allowing Rogers to scale its virtual services using Lyra’s national footprint. For Rogers and Lyra executives, the most important aspect of the […]
Category: Digital Health
Fostering successful pilots with health plans is critical for digital mental health startups. These relationships can promise significant promise for providers and payers, but a negative outcome can mean wasted time and resources. While risk is an inherent part of a trial run for a digital mental health provider, both health care companies and payers […]
Private equity-backed behavioral health provider PAX Health has acquired Harris Psychiatry Services, a psychiatric care provider specializing in workers’ compensation. Financial terms of the deal were not disclosed. PAX Health was formed in March 2024 by merging three behavioral health companies: Behavioral Medicine Associates (BMA), Workers Compensation Psychological Network (WCPN) and Reservoir Health. The company […]
Behavioral health technology company Eleos raised $60 million, bringing its total funding to over $120 million. Greenfield Partners led the Series C round with participation from F-Prime Capital, Eight Roads, Menlo Ventures, ION, Michael & Susan Dell Foundation, Union Tech Ventures and Centerstone. The company plans to use the cash infusion to expand its product […]
Digital health company DarioHealth (Nasdaq: DRIO) has raised $25.6 million through the private placement of convertible preferred stock. Dario, which offers behavioral health care, among other services, plans to use the funds to achieve its goal of being cash flow positive by the end of 2025, according to the company. “Today, we are happy to […]
Iris Telehealth has acquired innovaTel, a now-former division of Quartet Health, in what could be the first of other acquisitions by the company. Announced Tuesday, the deal marks a notable consolidation in the health care enterprise-focused digital behavioral health space. It gives Iris Telehealth additional scale via several overlapping markets it shared with innovaTel. Before […]
Thanks to Talkspace’s (NASDAQ: TALK) new partnerships with public payers, Tricare and Medicare, more individuals now have free access to the company’s assets. The tricky part is garnering awareness about the services. Talkspace is also set to cover 200 million lives and is working to improve awareness that its services may be free for many […]
New York City-based Slingshot AI has raised $40 million in capital for its mental health chatbot. Legacy investor Andreessen Horowitz led the round with participation from the Cultural Leadership Fund and a slew of angel investors. The startup is led by Neil Parikh, who co-founded sleep unicorn Casper, and is focused on building a foundational […]
Over the last decade, there has been an explosion of behavioral health startups in the market. The vast majority of those companies focus on lower acuity care for commercial pay patients or employer-based programs. Despite the need for services, startups have largely ignored the underserved population with public health insurance. But Nashville, Tennessee-based Peregrine is […]
The digital behavioral health sector has seen a dearth of venture funding. And what funding is available has been especially hard to get since the peak of digital behavioral health funding in 2021. The year 2024 reiterated essential lessons for digital behavioral health companies seeking funding as total funding amounts lingered near the bottom of […]
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