By JESSICA DaMASSA, WTF HEALTH
Digital mental health startup Modern Health just closed a $ 74 million Series D, bringing its total funding to $ 170 million and earned it a valuation of $ 1.17 billion which in turn brought its total funding to $ 170 million. makes the company founded by a woman the fastest to achieve unicorn status. CEO Alyson Watson explains what sets Modern Health apart in the incredibly crowded, well-funded and highly competitive mental health technology space, where the growing problem of growing demand for care is likely to soon become a shortage of care providers.
Modern Health hopes to win here by becoming a one-stop-shop for a full range of mental health services. They bring together all of the different types of mental health point solutions currently available – from self-service cognitive behavioral therapy programs using technology and peer-to-peer group therapy to virtual tours. one-on-one with clinicians. – and differentiate by designing a better way of welcoming patients, so that care can be adapted more precisely and cost effectively to the needs of patients. Alyson says, “If you’re just solving the mental health issue through the traditional way of connecting someone to a therapist, and that’s your ultimate solution and your only solution … well, ultimately this bubble will burst.
Founded in 2017, the company quickly developed its clientele (220 employers) and its coffers. They’ve already acquired Kip, another digital mental health company, and are looking for more. Hear what Alyson has on deck for 2021 and what she expects to drive the growth of the virtual mental health care market.