Two Chairs, a California-based hybrid behavioral well being firm, introduced it had closed a $72 million Sequence C fairness and debt-financing spherical.
Amplo Financing led the spherical, with Fifth Down Capital and different traders collaborating. Bridge Financial institution offered the debt financing.
The spherical brings the corporate’s whole increase to $103 million.
WHAT IT DOES
Two Chairs matches sufferers with the right therapist by organizing a 45-minute interview between the affected person and a licensed knowledgeable educated within the matching course of. They provide therapists in over 90 areas of experience and supply teletherapy in particular person and just about.
The corporate has in-person clinics in California, Washington and Florida and is an in-network supplier with Aetna within the three states, and with Kaiser Permanente in California and Washington.
“Two Chairs is dedicated to bringing distinctive psychological well being care to extra individuals who want it, and this funding will assist us proceed to work towards that objective. Along with increasing to extra states with extra companions, we’ll be deepening our investments in proprietary know-how to make sure one of the best patient-therapist match, supply of high-quality measurement-based care, and a differentiated expertise for our medical crew,” Alex Katz, founder and CEO of Two Chairs, informed Our blogNews in an e-mail.
MARKET SNAPSHOT
As of 2021, multiple in 5 adults, or 57.8 million individuals, within the U.S. lived with a psychological sickness, in response to the NIH.
As of Q3 2023, digital psychological well being remained the top-funded medical indication for startups within the digital well being area, with $0.9B distributed within the sector.
Final yr, Two Chairs launched a digital group remedy providing for Washington state sufferers. It additionally grew its providing to serve Spanish-speaking sufferers in Florida following its enlargement into the state and opening of its Miami clinic.
The corporate was based in 2017 and secured $21 million in Sequence B funding in 2019.
Different firms within the digital behavioral healthcare area embody Blackbird, a neuroscience-backed hybrid psychological well being supplier for kids and younger adults, which raised $17 million in February in a Sequence A funding spherical.
Teletherapy firm Talkspace can also be an enormous participant within the digital behavioral well being sector, as are New Zealand-based digital actuality and cognitive behavioral remedy firm oVRcome, pediatric digital psychological well being firm Little Otter, and Philadelphia-based psychological well being know-how firm NeuroFlow.
