Insight News July 6, 2024
Hafeezah Muhammad, founder and CEO of health technology company Backpack Healthcare, has secured $14 million in Series A funding to revolutionize pediatric mental healthcare with a focus on Medicaid-enrolled youth.
Announced in May 2024, this investment fuels Backpack Healthcare’s mission to address the escalating youth mental health crisis in the United States.
Backpack Healthcare tackles a critical gap in mental healthcare access. Over 40 million children rely on Medicaid or CHIP for coverage, yet only 14% of mental health professionals accept Medicaid. With its AI-powered app and teletherapy services, Backpack Healthcare offers a solution.
Their inclusive approach ensures all young people facing mental health challenges receive the support they need, regardless of socioeconomic background. The company strategically partners with Medicaid-accepting...
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