Handspring, which provides digital psychological well being for youth and their households, introduced it scored $12 million in Sequence A funding,
Cobalt Ventures led the spherical, with participation from Arkitekt Ventures, Hyde Park Angels (HPA), nvp capital, NextView Ventures, Cornucopian Capital, VamosVentures and 25madison. Two unnamed well being plans additionally joined the spherical.
Dipa Mehta of Valeo Ventures and Rob Go of NextView Ventures joined the corporate’s board of administrators.
WHAT IT DOES
The corporate provides pediatric digital psychological healthcare for youth and their households, together with entry to therapists with a deal with skills-based cognitive behavioral remedy.
Handspring’s choices embody entry to totally employed, educated therapists, age-appropriate skill-building, parental involvement, collaborative and energetic participation, a strengths-based perspective, and progress monitoring and suggestions.
“Whereas we have made strides in increasing entry to care, we have concurrently allowed high quality requirements to erode. Sufferers deserve extra than simply an obtainable therapist – they deserve evidence-based therapy, real therapeutic relationships, and measurable progress towards restoration,” Sahil Choudhry, CEO and cofounder of Handspring, mentioned in a press release.
“This funding is so vital as a result of it helps us proceed to construct a system that really cares concerning the long-term well-being of each youngster and household we serve.”
MARKET SNAPSHOT
In 2022, Handspring, also called Handspring Well being, closed a $6.2 million seed spherical led by Newark Enterprise Companions and NextView Ventures.
A big portion of U.S. kids and adolescents obtain outpatient psychological healthcare via video visits, in response to a research printed in The American Journal of Psychiatry.
There was a notable growth of digital telehealth-based psychological healthcare throughout the COVID-19 pandemic, and the research states that is more likely to be a permanent characteristic of outpatient care supply for kids and adolescents.
One other group providing pediatric psychological well being companies is digital care firm Teladoc, which final 12 months introduced a partnership with pediatric digital behavioral well being firm Brightline to increase psychological healthcare choices for kids, adolescents and their households via Teladoc’s platform.
Brightline provides kids and their households digital behavioral well being companies and works with employers and main insurers to offer teaching and remedy companies.
By way of the partnership, members underneath 18 years of age and their caregivers could have entry to Brightline’s psychological healthcare options for a variety of circumstances via Teladoc’s platform.
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