Fierce Health Payers May 1, 2020
Equity funding for mental health startups reached a record high in the first quarter of 2020.
These startups raised a record $576 million in funding—surpassing the prior quarterly record by over 60%—across 44 deals in the first quarter, according to market research firm CB Insights.
Employer-focused startups took center stage, closing several $20 million-plus rounds. Lyra Health, which offers a mental health platform based on evidence-based treatments, scored a $75 million funding round in March and Modern Health, which offers a suite of mental health solutions comprised of digital programs, virtual coaching and clinical therapy, landed $31 million in January.
Behavioral health companies are making strategic moves to grow, such as exploring M&A, CB Insights noted in its “State Of...
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