Mental wellness app Calm is the latest digital mental health company to announce workforce reductions. Co-CEO David Ko wrote in a memo that 20% of its employees, or about 90 people, were let go, according to a report by The Wall Street Journal. The move came after Calm management reexamined the “investment thesis” behind every […]
Mental wellness app Calm is deepening its footprint in the virtual care market as it has purchased health technology company Ripple Health Group. As part of the acquisition, Ripple CEO and Co-Founder David Ko will join Calm as co-CEO, sharing leadership responsibilities with Calm Co-Founder Michael Acton Smith. “David’s business acumen, operational excellence and proven […]
The world appears set to spend almost twice as much on mental health apps in 2022 than it did in 2019. A new report from the professional services giant Deloitte — titled Technology, Media & Telecommunications 2022 Predictions — says that a “conservative” annual growth rate for global spending on mental health apps is 20%, […]
BetterUp, a behavioral health unicorn company that provides virtual counseling and coaching services, has named Omar Dawood as president of its BetterUp Care offering. Launched in February, BetterUp Care links users to one-on-one coaching with behavioral health specialists, as well as on-demand support for issues pertaining to parenting, nutrition and sleep. Curated content, group coaching […]
More than 400 companies across various industries held initial public offerings (IPOs) last year, the most since 2000, even amid the pandemic-led economic downturn. At the same time, many businesses chose to go public by merging with a special purpose acquisition company (SPAC), a maneuver that has gradually gained traction among startups, including the subscription-based […]
Lyra Health, a mental health care benefits provider, has partnered with Calm, an app for sleep and meditation. The partnership will expand the number of mental health tools and resources Lyra clients have at their disposal. Headquartered in Burlingame, California, Lyra Health is a digital tech startup that provides mental health benefits to employers such […]
Global investment into mental health technology has increased nearly fivefold since 2014, according to a recent study published by London-based early stage venture capital giant Octopus Ventures. The findings were originally conveyed in pounds, but Behavioral Health Business converted them to dollars using the exchange rate as of Feb. 24. In 2014, investors worldwide funneled […]
As stigma dissipates and need grows, more people than ever before are seeking behavioral health services. To keep up with the demand, entrepreneurs are getting creative, launching innovative companies and bringing in hundreds of millions of dollars in funding. One reason for that is the growing prevalence of behavioral health conditions, from depression to substance […]
Venture capitalists continued to take a special interest in digital behavioral health companies in the third quarter of 2019, keeping alive a three-year steak of hot deal activity in the space. That’s according to a Q3 report from Rock Health, a venture fund that invests only in digital health companies. Across all sectors, digital health […]
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