‘Not Every Business Survives’: 2024 Behavioral Health Venture Outlook

After an explosion of investment in 2021, behavioral health startups have faced a slowdown in venture capital funding over the last year. Despite past challenges, many venture investors continue to see significant opportunities in the behavioral health sector, anticipating substantial changes as innovative payment models and maturing companies help this market evolve. The long-awaited consolidation […]

Youth Mental Health Startup Cartwheel Care Raises $20M in Round Led by Menlo Ventures

Youth mental health startup Cartwheel Care Inc. has landed a $20 million Series A funding round. The Cambridge, Massachusetts-based company offers pediatric digital mental health services via partnerships with school systems and boasts a no-waitlist system. “Our commitment is that we will have appointments for the family within seven to 10 days of that initial […]

[Updated] Equip Will Now Treat Adults with Eating Disorders Following $20 Million General Catalyst Investment 

Virtual provider Equip announced that it is expanding its scope of care to treat adults with eating disorders. The San Diego-based provider got its start treating people with eating disorders under the age of 24. There is also a substantial need for eating disorder care in the adult population, however. Additional funding from General Catalyst, […]

‘We’re Certainly Not Slowing Down’: General Catalyst’s Pedal-to-the-Metal Approach to Behavioral Health Investment

Venture capital firms the past few years have pumped billions of dollars into behavioral health companies, recognizing the vast need for their services and untapped opportunities to consolidate a fragmented market. Among the most active VC investors has been General Catalyst, which boasts a portfolio of more than a dozen behavioral health-focused companies, from Eleanor […]

Eleanor Health Lands $50M for Value-Based Care Focused Addiction and Mental Health Care Platform

Eleanor Health revealed Thursday that it landed a $50 million Series C funding round. The Waltham, Massachusetts-based addiction and mental health care provider is built around deploying population health and value-based payment models, putting it at the forefront of behavioral health startups with innovative care and reimbursement models. Launched in 2019, the company has raised […]

Virtual OUD Treatment Provider Ophelia Scores $15M

Ophelia, a New York-based provider of virtual opioid use disorder (OUD) treatment services, has landed $15 million in Series A funding. The round, which the company announced Thursday, was led by Menlo Ventures. Other investors include Y Combinator, General Catalyst and Refactor Capital, as well as the founders of Harry’s, Warby Parker, PillPack, Allbirds, Carbon […]