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Digital mental health startup Cerebral Inc. scored $300 million in equity funding. This new round brings the company’s total raise to $462 million.
The SoftBank Vision Fund 2 funded company now has a valuation of roughly $4.8 billion, according to a Bloomberg report.
Clients are able to fill out an online form and be matched to a prescriber who can come up with a treatment plan. After this, clients are connected to a care counselor. The company can mail clients medications, and it lets users check in with counselors and prescribers. Run on a subscription-based model, the startup provides three different plans including: medication and care counseling, medication and therapy, and therapy alone.
The startup has tapped Olympian gymnast Simone Biles as its chief impact officer. The company currently caters to individuals living with anxiety, depression, insomnia and ADHD. However, according to Bloomberg, it is looking to expand its scope of care.
Robin, an artificial intelligence-backed clinical documentation tool, scored $50 million in a Series B funding round led by Scale Venture Partners with participation from Khosla Ventures, Norwest Venture Partners, Social Leverage, Meridian Street Capital and IA Ventures. This news comes more than two years after the Palo Alto, Calif.-based startup announced an $11.5 million Series A funding round.
The company’s product Robin Assistant is able to ambiently capture and document doctors’ notes and integrate them into the EHR. The company said the new cash will go towards continuing to develop tools to help with administrative work.
“We go to the doctor looking for comfort and expertise. Unfortunately, doctors today have to spend so much of their time checking boxes to meet administrative requirements,” Emilio Galán, CEO at Robin, said in a statement.
“We believe that nothing, whether it be insurance rules or technology, should get in the way of care and this funding allows us to scale that experience for doctors and their patients.”
This news comes just a day after its main competitor Suki announced a $55 million Series C round.
Nomi Health, a tech-backed direct healthcare company, raked in $110 million in Series A funding. Rose Park Advisors and Arbor Ventures led the round.
The service is aimed at cutting down on healthcare-related costs. It created a tech platform called Nomi Connect that is able to integrate healthcare delivery into public and private organizations. The company said the investment will go towards developing new offerings.
“There is no doubt that by transforming the way healthcare is bought and paid for, we can transform care outcomes and experiences for the better across the ecosystem, from buyer to patient to provider,” said Melissa Cannon Guzy, co-founder and managing partner at Arbor Ventures. “Nomi Health’s visionary team, guided by established leaders from fintech to healthcare, are well poised to rewire this broken system in the near term and beyond.”
Digital mental healthcare company HelloHero announced a $7.7 million seed funding round. Silverton Partners led the round with participation from Correlation Ventures, Achieve Partners, Service Provider Capital New England Fund and existing investors. In addition to the venture funding, the company also announced $4.5 million in debt financing from Silicon Valley Bank.
Focused on pediatric mental health, children can get personalized care and digital therapy online. The service can work with school districts and deliver special education services and help teachers and administrators manage a child’s individualized educational program (IEP).
The tool is able to help administrators see if a child is falling behind on the therapy hours designated by their IEP. It also keeps track of a child’s progress.
The company plans to use the funds to help it grow its teams across billing, provider management, compliance, and healthcare and technology.
“All stakeholders in our industry will agree that there is an urgent need for increased access to quality care. This lack of access arises from problems within the healthcare framework. School districts and administrators are bearing a heavier load, including providing more services to meet students’ unique needs, finding the right local staff and navigating Medicaid reimbursement,” said Syed Mohammed, founder and CEO of HelloHero.
“Our advanced solution addresses these challenges for K-12 school districts and families looking for specialty D2C services.”
Pair Team, a digital health company focused on coordinating primary care, landed $7.3 million in funding, bringing the company’s total raise to $10 million. NTTVC, Newark Venture Partners and 8VC participated in this round of funding.
The company provides digital assistants and access to care teams, as well as addressing elements related to the social determinants of health, including transportation, food and access to technology. On the provider end, the tool is able to help implement best practices and integrate with a community-based organization’s workflow.
The company plans to use the new money to grow.
“Founders Cassie and Neil make an exceptional team to go after an important mission, putting technology to work for vulnerable populations,” Vab Goel, founding partner at NTTVC, said in a statement.
“A staggering 75 million people in the U.S. are dependent on Medicaid benefits for their healthcare, and we are looking forward to working alongside Pair Team to expand support for the community-based providers who make it their mission to care for these patients.”