Telemental well being corporate Brightside Well being introduced it raised $33 million greenbacks in Sequence C investment powered by way of healthcare-focused mission capital company S32.
Kennedy Lewis, Time BioVentures, and 23andMe founder Anne Wojcicki participated within the spherical. Current buyers ACME, Mousse Companions and TriVentures additionally contributed.
The corporate showed the $33 million elevate in an e mail to MobiHealthNews. The Sequence C spherical brings the corporate’s overall elevate to $100 million.
The San Francisco-based corporate additionally added former Optum Behavioral Well being Answers CEO Travel Hofer to the corporate board of administrators.
Hofer serves at the board of a number of well being firms, together with digital care supplier Ophelia and digital cardiac observe Heartbeat Well being.
WHAT IT DOES
Brightside Well being supplies maintain folks affected by nervousness, gentle to serious scientific despair and different temper issues via its Disaster Care psychiatry platform.
The corporate leverages a machine-learning set of rules to judge a person and lend a hand suppliers in tailoring remedy to that particular person.
This investment spherical can be utilized by the corporate to develop into new markets.
“We’re overjoyed to announce this elevate and concurrently welcome Travel, an improbable trade idea chief, to assist propel Brightside Well being into the following section of our enlargement. Those main steps ahead allow us to boost up our enlargement into Medicare, Medicaid and past, whilst deepening our merit with era and AI to ship the most productive results within the trade,” Brad Kittredge, cofounder and CEO of Brightside Well being, mentioned in a remark.
“This funding aligns with our persevered focal point on capital-efficient undertaking price introduction, placing us on a relaxed trail to profitability whilst additional advancing our targets and venture.”
MARKET SNAPSHOT
The telehealth corporate raised $50 million in Sequence B investment in 2022. It garnered $24 million in Sequence A investment the 12 months sooner than.
In February, Brightside introduced new Medicare and Medicaid partnerships with CareOregon, Blue Protect of California, Blue Go and Blue Protect of Texas and Centene.
With the partnerships, Brightside Well being will be capable of serve 50 million further Medicare and Medicaid beneficiaries. Products and services will duvet sufferers in Arizona, California, Delaware, Florida, Texas, Michigan, North Carolina, New York, Oregon and Illinois.