Telemental well being firm Brightside Well being introduced it raised $33 million {dollars} in Collection C funding powered by healthcare-focused enterprise capital agency S32.
Kennedy Lewis, Time BioVentures, and 23andMe founder Anne Wojcicki participated within the spherical. Current traders ACME, Mousse Companions and TriVentures additionally contributed.
The corporate confirmed the $33 million elevate in an e-mail to MobiHealthNews. The Collection C spherical brings the corporate’s whole elevate to $100 million.
The San Francisco-based firm additionally added former Optum Behavioral Well being Options CEO Journey Hofer to the corporate board of administrators.
Hofer serves on the board of a number of well being corporations, together with digital care supplier Ophelia and digital cardiac follow Heartbeat Well being.
WHAT IT DOES
Brightside Well being gives look after folks affected by nervousness, gentle to extreme scientific melancholy and different temper problems by means of its Disaster Care psychiatry platform.
The corporate leverages a machine-learning algorithm to guage a person and help suppliers in tailoring therapy to that particular person.
This funding spherical shall be utilized by the corporate to develop into new markets.
“We’re thrilled to announce this elevate and concurrently welcome Journey, an unbelievable business thought chief, to assist propel Brightside Well being into the subsequent part of our development. These main steps ahead allow us to speed up our enlargement into Medicare, Medicaid and past, whereas deepening our benefit with know-how and AI to ship the perfect outcomes within the business,” Brad Kittredge, cofounder and CEO of Brightside Well being, stated in a press release.
“This funding aligns with our continued give attention to capital-efficient enterprise worth creation, placing us on a cushty path to profitability whereas additional advancing our targets and mission.”
MARKET SNAPSHOT
The telehealth firm raised $50 million in Collection B funding in 2022. It garnered $24 million in Collection A funding the 12 months earlier than.
In February, Brightside introduced new Medicare and Medicaid partnerships with CareOregon, Blue Protect of California, Blue Cross and Blue Protect of Texas and Centene.
With the partnerships, Brightside Well being will be capable to serve 50 million further Medicare and Medicaid beneficiaries. Companies will cowl sufferers in Arizona, California, Delaware, Florida, Texas, Michigan, North Carolina, New York, Oregon and Illinois.
