Wednesday, April 24, 2024
HomeFunding Boston-based InStride Health Secures $30Million in Series B Round Funding

[Funding alert] Boston-based InStride Health Secures $30Million in Series B Round Funding

InStride Health, an outpatient provider of specialty pediatric anxiety and OCD treatment secures $30million in series B round funding. General Catalyst led investors and was joined by previous investors .406 Ventures, Valtruis, Mass General Brigham Ventures, and Hopelab Foundation.

InStride Health, an outpatient provider of specialty pediatric anxiety and OCD treatment secures $30million in series B round funding. General Catalyst led investors and was joined by previous investors .406 Ventures, Valtruis, Mass General Brigham Ventures, and Hopelab Foundation.

Read also – NYC-based Coro Raises $100Million in Series D Round Funding

The new capital enables InStride Health to continue investing in clinical quality while expanding to new markets. This will allow InStride Health to further deliver on its mission of providing insurance-based access to best-in-class mental health care. With this investment, the company’s total funding has now reached $56M.

Holly Maloney, Managing Director at General Catalyst said, “General Catalyst is proud to partner with the mission-driven founders of InStride who have dedicated their careers to solving the pediatric mental health crisis, We believe InStride is at the forefront of helping to democratize accessible, high-quality behavioral health care through its unique clinical model and innovative approach to delivering care, and we look forward to helping them grow,” added Candace Richardson, partner at General Catalyst.

Addressing Gaps in Mental Health Treatment

Nearly one-third of youth in the United States will struggle with an anxiety disorder and/or OCD by the age of 18. This presents significant life and economic challenges for kids, their families, and the healthcare system. Providers that offer specialty care for these conditions are in short supply, often have more than six-month waitlists, and rarely accept insurance.

InStride Health accepts most major insurance plans in the states it serves, and treatment typically begins within 1 to 4 weeks of application approval–making top-tier care affordable and accessible to more young people in need. Its evidence-based care model is grounded in Cognitive Behavioral Therapy (CBT) and Acceptance and Commitment Therapy (ACT), with an emphasis on Exposure and Response Prevention (ERP).

Read also – Virginia-based Lightshift Energy Secures $100Million in Funding

The clinical foundation of InStride Health is based on a decade of work by its co-founders, Mona Potter, MD and Kathryn Boger, PhD, ABPP, while at McLean Hospital, the #1 psychiatric hospital according to the 2023-24 U.S. News & World Report “Best Hospitals” survey.

Dr. Potter, Chief Medical Officer and co-founder of InStride Health said, “As a clinician and a parent, I am incredibly grateful for the opportunity to take on the broken pediatric mental health system through our work at InStride. We’re solving a complex problem–one that requires a diverse, smart, dedicated team driven by purpose and mission–and that is the team we have been so fortunate to build,”.

Manuela Villa, PhD, a referring clinician from Boston Children’s Hospital, describes the power of this approach, saying, “InStride’s provision of innovative, evidence-based care and its ability to foster strategic partnerships has allowed us to work efficiently and collaboratively in the treatment of children and adolescents struggling with anxiety and OCD as well as complex medical presentations. I’ve referred many patients to the InStride team because they truly go above and beyond to ensure that all aspects of patient care are addressed, and their unique approach results in excellent patient outcomes and high levels of patient satisfaction.”

InStride Health treatment is designed to be time-bound. Each personalized care plan lasts four months to one year, helping patients and their families manage anxiety and focus on building the habits and self-reliance that will prepare them for graduation from the program. Measurement-Based Care (MBC) practices ensure transparency in outcomes and data-driven treatment decisions.

About InStride Health

InStride Health provides specialty outpatient care for pediatric Anxiety and Obsessive Compulsive Disorder (OCD) and related presentations. Co-founded by Harvard-trained clinicians from McLean Hospital, the InStride Health care model is grounded in evidence-based treatments: Cognitive Behavioral Therapy (CBT) and Acceptance and Commitment Therapy (ACT) with an emphasis on Exposure and Response Prevention (ERP).

A dedicated team of a psychiatrist, therapist, and an exposure coach are paired with each child to provide real-time support using everyday tools like text and a video- and chat-enabled mobile application. InStride Health accepts most major insurance plans in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island, with Maine coming soon.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular