A mental health technology startup called Grow Therapy secured $88 million in a series C round of funding. Sequoia Capital led the round, and PLUS Capital and Goldman Sachs Alternatives also participated.
Together with performers and athletes from their collective, such as Joe Burrow, Dak Prescott, Lauren Holiday, Jrue Holiday, Lily Collins, and Anna Kendrick. Participating were already-existing investors Transformation Capital, SignalFire, and TCV.
The company plans to use the money to grow both its R&D department and its operations. Grow Therapy is a provider-centric mental health technology firm that increases access to mental healthcare and is led by CEO Jake Cooper.
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It provides therapists and prescribers with a suite of business tools and services, peer community, and pipeline of expertly matched patient referrals so that they can set up and grow in-person and virtual private practices, within the communities they care about most.
The company offers a network that includes more than 12,000 providers and works with insurers including Humana, Aetna, Cigna, Florida Blue Cross Blue Shield, and UnitedHealthcare.
Jake Cooper said: “Our team believes that empowering people to find and engage with effective mental health support – regardless of their background, geography or financial circumstances – is the most pressing need of our time. The two announcements we’ve made today, including the close of our $88 million Series C from Sequoia Capital and Goldman Sachs Alternatives and the launch of our new measurement-informed care system, represent tremendous strides in helping us fulfill that goal. Together with our partners and stakeholders, we are building an environment where people can easily find care they can trust and afford, and where therapists can serve their communities while building sustainable, rewarding careers.”
About Grow Therapy
Grow Therapy, a new york startup think that in order to become the best versions of ourselves, therapy is a necessary component. It’s more than just support through adversity, regardless of who you are or where you’re at; it’s the cornerstone to help you develop, heal, and live a life that is more resilient, compassionate, hopeful, and strong.
Individualised treatment ought to be accessible to all, and therapists need to be able to help the communities that matter most to them—not just the 10% of clients who can afford to pay out of pocket.
