Mental health startup Grow Therapy scores $75M in Series B funding

New York-based mostly Increase Treatment, which gives mental health suppliers applications to support them get started their private follow and be coated by coverage, has elevated $75 million in Series B funding.

The spherical was led by TCV and Transformation Funds, and supported by present investors SignalFire and SVB. 

The cash will be used to develop the company’s insurance policies coverage, make improvements to its offerings and build its crew. Precisely, the company will grow business insurance together with Medicare and Medicaid coverage from 13 states to all 50 states and broaden its on-line marketplace capabilities, EHR system and medical sources. 


Develop Therapy gives a engineering system offering psychological wellness suppliers tools to established up in-man or woman and digital practices, connecting all those needing procedure to those people furnishing mental well being treatment. 

The organization also is effective with payers — these as Humana, Aetna, Cigna, Florida Blue Cross Blue Protect and United Healthcare — and develops deals where by companies in its community are coated by insurance. 

In accordance to Crunchbase, the startup has elevated $90 million to day.

“We are absolutely nothing but optimistic for a upcoming wherever beginning a private exercise is seamless, and accessing high-excellent mental healthcare is table-stakes,” Jake Cooper, CEO of Improve Treatment, stated in a statement. 

Current market SNAPSHOT

In August, Alma, a company identical to Mature Remedy that also focuses on supporting psychological health experts in constructing their tactics and setting up contracts, introduced $130 million in a Sequence D funding round. The round arrived about a year immediately after the enterprise announced its $50 million Collection C. 

Quartet Wellness is an additional tech-backed enterprise that matches clients and mental health specialists. In 2021, the enterprise introduced its acquisition of InnovaTel Telepsychiatry for an undisclosed sum, just times following announcing a $60 million funding round.