Mental health companies that have raised funding so far in 2022

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Funding to mental health companies dropped 60% in Q1, as the VC environment has tightened

Last year was a great year for the mental health space, and digital health in general:  companies brought in $5.5 billion globally across 324 deals, a 139% increase year-to-year.

Alas, the good times couldn’t last forever: digital health funding is dropping, as is venture funding in general. Funding to mental health companies fell 60% in the first quarter of this year. 

To say that this is a tougher funding environment than it was even less than a year ago is an understatement, but there’s always a silver lining: it’s time like these when the good companies get separated from the bad. The cream rises to the top, as they say, so for companies to be able to raise in this environment likely means they are the companies that should be funded.

Here’s a list of the companies in the mental health space that have raised so far this year.

(If you are a startup in the mental health space and would like pitch in front of top VCs and entrepreneurs in this space at Vator’s Future of Behavioral and Mental Health event in October, please answer this questionnaire)

SoundMind

Description: “The music therapy app built to completely reduce stress and anxiety”

Founded: 2017

Amount raised$800,000 

Date raised: March 28, 2022

Investors: Dr. Venus Nicolino

Total funding: $800,000Thalamos 

Description: “Thalamos’ software joins up admission, treatment and discharge care pathways. We support healthcare professionals to provide a swifter, simpler and safer experience for those in need of acute mental healthcare.”

Founded: 2018

Amount raised: $1 million 

Date raised: September 1, 2022

Investors: Conduit Impact EIS Fund, Syndicate Room

Total funding: $1 millionCuéntame

Description: “The 3-in-1 platform that identifies, prevents and resolves psychosocial risks in time, by providing personalized tools that improve your personal well-being.”

Founded: 2019

Amount raised: $1.1 million

Date raised: September 7, 2022

Investors: Colectivo Jaguara, 99 Startups, Fondation Botnar & New Ventures, Pareto20, Investo

Total funding: $1.1 millionHumans Anonymous 

Description: “Humans Anonymous is an anonymous live audio platform that facilitates safe spaces for communities of people with similar life experiences to share their struggles, get advice, and support each other.”

Founded: 2021

Amount raised: $1.7 million

Date raised: September 2, 2022

Investors: Looking Glass Capital, Backend Capital, Ten VC, Authentic Ventures

Total funding: $1.7 millionlogo3x.pngLegion Health

Description: “Legion Health is building the world’s first B2B mental health marketplace, connecting clinicians with companies who need their clinical services.”

Founded: 2021

Amount raised: $2 million 

Date raised: March 9, 2022

Investors: Erica Johnson, Ravi Shah, Jeffrey Leerink, Jay Desai, Y Combinator, UpHonest Capital, Soma Capital

Total funding: $2 millionMindFi 

Description: “End-to-end employee wellbeing and mental healthcare benefits for the future of work. Help employees feel supported and join the #MindFitness movement”

Founded: 2017

Amount raised: $2 million 

Date raised: February 14, 2022

Investors: M Venture Partners, Global Founders Capital, Marcus Tan, Kenji Narushima, Derrick Ko

Total funding: $2.9 million07 Therapy

Description: “O7 Therapy is revolutionizing access to mental health services through a digital platform and mobile app offering online therapy.”

Founded: 2019

Amount raised: $2.1 million

Date raised: April 7, 2022

Investors: Hikma Ventures, C-Ventures, Lotus Ventures

Total funding: $2.1 millionTrek HealthTrek Health

Description: “Completing manual tasks to get paid is not part of the job description. Create a better financial experience for mental health providers, payers and patients with Trek Health.”

Founded: 2021

Amount raised: $2.7 million

Date raised: September 9, 2022

Investors: Lionheart Ventures, Founder Collective, Jack and Max Altman of Altman Capital, Matt Brezina of Ford Street Ventures, Aaron King, Frederic Kerrest, Clarence So, Rich Menendez

Total funding: $2.7 million Ami 

Description: “We are the first human centric mental wellness platform in Asia. On a mission to combat workplace burnout, we believe the only solution is through destigmatizing and demystifying the mental health space. At Ami, we provide a safe space for all to be heard. Our highly vetted group of wellness coaches are here to listen, allow you to decompress, and work with you on the best path forward.”

Founded: 2021

Amount raised: $3 million

Date raised: May 4, 2022

Investors: Meta, Goodwater Capital, Strong Ventures, January Capital, Collaborative Fund

Total funding: $4 million
Arise

Description: “Eating disorders affect people of all backgrounds, identities, and experiences, yet up to 90% won’t get care. We’re here to change that — with support that works for real people, in real life.”

Founded: 2022

Amount raised: $4 million 

Date raised: July 11, 2022

Investors: Greycroft, BBG Ventures, Wireframe Ventures, Iyah Romm, Sylvia Romm, Jay Desai

Total funding: $4 millionWondermind 

Description: “Wondermind helps people care for their mental health via daily content, CPG products, and storytelling.”

Founded: 2021

Amount raised: $5 million 

Date raised: August 11, 2022

Investors: Serena Ventures, Lightspeed Venture Partners, Sequoia Capital

Total funding: $5 million  Moozoom  

Description: “An interactive, innovative “choose your own path” SEL platform where students get to improve their mental wellbeing through modeling videos based on real life scenarios.”

Founded: 2020

Amount raised: CA$5 million

Date raised: August 18, 2022

Investors: Amplify Capital, the Telus Pollinator Fund for Good

Total fundingCA$5.8 millionHandspringHandspring Health

Description: “Handspring provides quality and evidence-based mental healthcare for children, adolescents, and young adults between the ages of 10 and 24.”

Founded: 2021

Amount raised$6.2 million 

Date raised: May 21, 2022

Investors:Newark Venture Partners, NextView Ventures, 25madison Ventures, Arkitekt Ventures, Quantum Angels

Total funding: $6.2 millionOliva

Description: “Proper mental health support for employees”

Founded: 2020

Amount raised$6.3 million

Date raised: March 24, 2022

Investors: Stride VC, Moonfire

Total funding: $8.6 million

NOWATCH

Description: “NOWATCH is a health innovation company with a mission to help people navigate the increasingly fast-paced world of technology. Our flagship product, the NOWATCH Awareable, is the first wearable device to measure a cortisol proxy, predicting stress response and restoring balance for complete mind and body wellbeing.”

Founded: 2020

Amount raised$8.7 million

Date raised: June 15, 2022

InvestorsChris Hall, Flow Ventures 

Total funding: $8.7 millionSpectrumAiSpectrumAi

Description: “We’re modernizing Applied Behavior Analysis with tools and insights for better care and long-term success.”

Founded: 2021

Amount raised$9 million

Date raised: June 2, 2022

Investors:  F-Prime Capital, Frist Cressey Ventures, Autism Impact Fund

Total funding: $9 millionLumi Interactive

Description: “Kinder World is more than a cozy houseplant game. It’s built with evidence-backed self-care activities at it’s core, designed to improve the mental health and wellbeing of our growing player community.”

Founded: 2018

Amount raised: $9 million

Date raised: July 8, 2022

Investors: a16z, 1Up Ventures, Galileo Ventures, Heracles Capital, Emily Greer,

Total funding: A$9.8 million

Daybreak Health Hauls in $10M in A Round | DealFlow's Healthcare Services  Investment NewsDaybreak Health

Description: “Daybreak partners with youth, families, and schools to create personalized, easily accessible, and affordable mental health programs.”

Founded: 2019

Amount raised$10 million

Date raised: March 27, 2022

Investors: Lightspeed, Maven Ventures

Total funding: $11.9 millionNudj Health

Description: “Nudj Health delivers integrated, whole-person, and continuous care for patients with chronic disease beyond the walls of the doctor’s office. The company provides collaborative care using evidence-based, Medicare approved pathways centered around six interconnected lifestyle areas: stress management, physical activity, sleep quality, social support, behavioral risks and nutrition.”

Founded: 2022

Amount raised$10 million

Date raised: April 13, 2022

Investors: Nebraska Medicine, Teal Ventures, Cohn Family Trust, Health Innovation Pitch

Total funding: $19.8 millionHeard 

Description: “Heard combines smart software with real humans to handle bookkeeping, taxes, and payroll for therapists.”

Founded: 2019

Amount raised: $10 million 

Date raised: May 5, 2022

Investors: Footwork, Founders Co-Op, Act One Ventures

Total funding: $11.3 million
Intellect 

Description: “Intellect provides the easiest yet most comprehensive mental health benefits for individuals & workforces. Speak with behavioural health coaches, work with licensed psychologists, or take on self-guided programs, entirely within an app.”

Founded: 2019

Amount raised: $10 million$10 million

Date raised: January 24, 2022; July 18, 2022

Investors: HOF Capital, Headline, East Ventures, MS&AD Ventures, DG Daiwa Ventures. Pioneer Fund, Tiger Global, JAFCO Asia, Singtel Innov8, PERSOL Holdings, K3 Ventures, HOF Capital Insignia Ventures Partners

Total funding: $32.7 millionCaraway

Description: A digital healthcare company for college women+ that provides integrated mental, reproductive and physical healthcare services.

Founded: 2022

Amount raised: $10.5 million

Date raised: July 26, 2022

Investors: 7wireVentures, OMERS Ventures, Hopelab Ventures

Total funding: $10.5 million
Forge Health LogoForge Health

Description: “We’ve built a company with the best people in the world at treating and healing addiction, trauma and co-occurring conditions from anywhere. And they’re ready to work with you.”

Founded: 2016

Amount raised: $11 million

Date raised: April 11, 2022

Investors: HC9 Ventures

Total funding: $11 millionHealthRhythms HealthRhythms

Description: “Mental health care for the modern era of medicine. A platform for real-time objective behavioral health monitoring”

Founded: 2014

Amount raised$11 million

Date raised: February 3, 2022 

Investors: GSR Ventures, Brook Byers

Total funding: $13.1 millionSensible Care

Description: “Access care through your mobile device. Validate your insurance. Know what you’ll pay and what to expect. Have confidence that your care team has designed a plan that will work for you.”

Founded: 2017

Amount raised$13 million

Date raised: June 30, 2022

Investors: Volition Capital, Skyline Investors

Total funding: $13.5 millionMotivo

Description: “Motivo is a virtual clinical supervision platform that gives employers & pre-licensed clinicians the supervision they need. Whether you need group supervision or licensure hours, we’re here to help.”

Founded: 2018

Amount raised: $14 million 

Date raised: August 18, 2022

Investors: Cox Enterprises, SteelSky Ventures, Great Oaks Venture Capital

Total funding: $16.2 millionApollo Neuro

Description: “The Apollo wearable helps your body recover from stress, so you can relax, focus, sleep, and feel better.”

Founded: 2016

Amount raised$15 million

Date raised: March 17, 2022

Investors: Noetic Fund

Total funding: $21.1 millionPsych HubPsych Hub

Description: “Psych Hub was developed to help people overcome mental health challenges through multimedia education for every learning style. Psych Hub’s robust library of over 1,000 proprietary educational assets includes courses, videos, podcasts, and written & shareable content.”

Founded: 2018

Amount raised: $16 million

Date raised: August 25, 2022

Investors: HC9, Frist Cressey Ventures, HealthStream, Emerson Collective, Bailey & Co.

Total funding: $16 millionLogo Moka.Caremoka.care

Description: “At moka.care, we believe your employees’ mental health is the key to sustainable growth, for both your teams and your company. And because this is first and foremost a human issue, we offer support that is also human.”

Founded: 2019

Amount raised: $16 million 

Date raised: May 24, 2022

Investors: Left Lane Capital, Singular, Origins, Antoine Griezmann

Total funding: €17.5 million로고MiNDCAFE

Description: “MiNDCAFE provides ‘Anonymous Guaranteed Integrated Mental Health Care Service’ so that you can no longer suffer alone.”

Founded: Unknown

Amount raised$16.7 million 

Date raised: February 10, 2022

Investors: Hashed, E&Investment, K2 Investment, Samsung Next, Insight Equity Partners, GC Green Cross Holdings

Total funding: $17 million Talkiatry 

Description: “Our mission is to provide high-quality, in-network psychiatric care throughout the United States. We improve patient access and outcomes through responsible innovation, while also benefiting physicians and insurers.”

Founded: 2019

Amount raised$17 million

Date raised: January 27, 2022

Investors: Left Lane Capital

Total funding: $37 million logoUnobravo  

Description: “Unobravo is the online psychology service that finds the therapist best suited to your needs and preferences among over 2000 professionals, for an excellent online psychological therapy.”

Founded: 2019

Amount raised€17 million 

Date raised: July 21, 2022

Investors: Insight Partners, Thomas Plantenga, Olivier Bonnet, Rika Christanto

Total funding:  €17.2 million Eleos Health

Description: “Eleos integrates and automates the entire behavioral care workflow. Freeing clinicians from operational burdens, letting them focus on care itself.”

Founded: 2019

Amount raised$20 million

Date raised: April 5, 2022

Investors: F-Prime Capital, Eight Roads Ventures, aMoon Fund, lool ventures, Arkin Holdings

Total funding: $28 millionKintsugi 

Description: “Kintsugi Voice is an API-first platform that uses novel voice biomarkers in speech to identify, prioritize, and care for mental health in real time. Our technology integrates with call centers, telehealth systems, and remote patient monitoring apps to help more people get the right care at the right time.”

Founded: 2019

Amount raised: $20 million

Date raised: February 23, 2022

Investors: Insight Partners, Acrew Capital, Darling Ventures, Citta Capital, Side Door Ventures, Primetime Partners, IT Farm, AngelList Fund, Alpha Edison

Total funding: $29.3 millionParallel Learning

Description: “Overcome learning challenges with personalized psychoeducational support and supercharge your mental fitness—without leaving the comfort of home.”

Founded: 2020

Amount raised$20 million 

Date raised: May 25, 2022

Investors: Tiger Global, Obvious Ventures, JAWS, Vine Ventures

Total funding: $22.8 millionWysa 

Description: “Wysa AI Coach is an artificial intelligence-based ’emotionally intelligent’ service which responds to the emotions you express and uses evidence-based cognitive-behavioral techniques (CBT), DBT, meditation, breathing, yoga, motivational interviewing and micro-actions to help you build mental resilience skills and feel better.”

Founded: 2015

Amount raised: $22 million 

Date raised: July 18, 2022

Investors: HealthQuad, British International Investment, W Health Ventures, Kae Capital, pi Ventures, Google Assistant Investments

Total funding: $29.4 millionLittle Otter

Description: “We provide personalized mental healthcare for kids 0-14 that also supports the entire family. We offer specialized, collaborative virtual care designed by experts in childhood and family mental health, delivered through our children’s mental health app.

Description

Founded: 2020

Amount raised: $22 million

Date raised: January 6, 2022

Investors: CRV, Torch Capital, Vast Ventures, Hinsdale, Boxgroup, _Able, Carrie Penner Walton, G9, Springbank Collective

Total funding: $26.2 millionMantra LogoMantra Health

Description: “Mantra Health is the first digital mental health clinic that works cohesively with university counseling centers like never before.”

Founded: 2018

Amount raised: $22 million  

Date raised: January 19, 2022

Investors: VMG Partners, New Market Venture Partners, Elements Health Ventures, 14W, Alumni Ventures, Canaan Partners, Global Founders Capital, Baleon Capital, Western Tech Investments, City Light Capital

Total funding: $29.2 million
Nue Life Health

Description: “We’re a next-gen mental wellness company that believes in the power of psychedelics to catalyze lasting change.”

Founded: 2020

Amount raised$23 million 

Date raised: April 19, 2022

Investors: Obvious Ventures, Western Technology Investment

Total funding: $26.3 million MindedMinded 

Description: “Medication changed our lives. We’ll help it change yours, too. Skip the doctor’s office and get treatment for anxiety, depression, sleep, and more from home”

Founded: 2020

Amount raised$25 million

Date raised: February 22, 2022

Investors: Streamlined Ventures, Link Ventures, The Tiger Fund, Unicorn Ventures, Trousdale Ventures, Gaingels, SALT Fund, TheFund,

Total funding: $29.7 millionBoulder Care

Description: “At Boulder, we treat people with substance use disorder (SUD) — including opioid use disorder (OUD) and alcohol use disorder (AUD) — grounded in kindness, respect, and unconditional support.”

Founded: 2017

Amount raised$36 million

Date raised: June 10, 2022

Investors: Qiming Venture Partners, Goodwater Capital, Laerdal Million Lives Fund, First Round Capital, Greycroft, Tusk Venture Partners, Gaingels

Total funding: $50.1 million

Real

Description: “Real is a new kind of mental wellness membership, designed to fit your schedule, comfort level, and needs.”

Founded: 2019

Amount raised: $37 million

Date raised: April 12, 2022

Investors: Owl Ventures, Iyah Romm, Dr. Slyvia Romm, Lightspeed Venture Partners, Female Founders Fund, Forerunner Ventures, BBG Ventures

Total funding: $53 million  

Osmind 

Description: “People living with mental health conditions deserve the highest standards of safe, effective, life-saving treatment. We are a Public Benefit Corporation accelerating technology and research to ensure access to care for patients of all backgrounds.”

Founded: 2020

Amount raised: $40 million 

Date raised: May 10, 2022

Investors: DFJ Growth, Susa Ventures, Lachy Groom, Brent Saunders, Helena Goodman, Ariel Katz, General Catalyst, Future Ventures, Tiger Global, Pear VC

Total funding: $57.2 millionTelepsychiatry CompaniesIris Telehealth

Description: “Our mission is to help patients, providers, and healthcare organizations achieve their goals through clinically sound and financially sustainable psychiatry programs.”

Founded: 2013

Amount raised: $40 million 

Date raised: April 14, 2022

Investors: Concord Health Partners, Columbia Pacific Advisors

Total funding: $40 millionConcert HealthConcert Health

Description: “Concert Health is America’s leading behavioral health medical group. We make it possible for providers and health plans to offer behavioral health services within primary care, with support from our expert clinicians.”

Founded: 2016

Amount raised: $42 million 

Date raised: April 27, 2022

Investors: Define Ventures, Healthy Ventures, Vertical Venture Partners, Townhall Ventures, CommonSpirit Health, Advent Health

Total funding: $56.5 million

Bicycle Health

Description: “We support and guide you through the ups and downs of recovery. We’ll help you overcome opioid use disorder and build a life you love.”

Founded: 2017

Amount raised$50 million

Date raised: June 7, 2022

Investors: InterAlpen Partners, Questa Capital, Frist Cressey Ventures, City Light Capital

Total funding: $83 millionBrightside logoBrightside 

Description: “Get a personalized treatment plan online and start feeling like you again with medication, therapy or both.”

Founded: 2017

Amount raised: $50 million 

Date raised: March 29, 2022

Investors: ACME Capital, Mousse Partners, Bullpen Capital, Triventures, Trousdale Ventures

Total funding: $75 million Happy Health

Description: “A mission-driven technology company committed to transforming mental health awareness through the Happy Ring, the first wearable for your mind, measuring your stress and mood 24/7”

Founded: 2019

Amount raised$60 million

Date raised: August 24, 2022

Investors: ARCH Venture Partners

Total funding: $60 million  

Brightline | Behavioral Health Care for Kids and TeensBrightline

Description: “Brightline brings exceptional behavioral health care to kids, teens, and their families, when and where they need it”

Founded

Amount raised$105 million$10 million  

Date raised: March 29, 2022; July 12, 2022

Investors: KKR, GV, Optum Ventures, Oak HC/FT, Threshold, 7wireVentures, Children’s Medical Center Corporation, Blue Cross Blue Shield of Massachusetts, Northwell Health

Total funding: $212 million
Alma

Description: “At Alma, we’re pioneering a new model for mental health care — one that gives providers the autonomy of a private practice with the support of the Alma platform.”

Founded: 2018

Amount raised: $130 million 

Date raised: August 25, 2022

Investors: Thoma Bravo, Cigna Ventures, Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners, Sound Ventures

Total funding: $220.5 millionLyra Health | A Smarter Approach to Emotional HealthLyra Health

Description: “Lyra is transforming mental health care using intelligent matching technology, concierge support, and an innovative digital platform to deliver a frictionless experience for members, providers, and employers.”

Founded: 2015

Amount raised: $235 million 

Date raised: January 19, 2022

Investors: Dragoneer, Salesforce Ventures, Coatue

Total funding: $910.1 million

(Image source: thedowneypatriot.com)

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