.406 Ventures is an early-stage venture capital firm that invests in innovative Information Technology (''IT'') and services companies founded by the finest entrepreneurs. They are a veteran team of industry entrepreneurs, operators and investors who apply real world experience, deep industry knowledge and networks, and strong company-building skills to create value for our entrepreneurs and investing partners.   .406 Ventures typically are the lead, first institutional investor in early-stage and de novo investments in market-changing IT Security and Infrastructure, Technology-Enabled Business Services, and Next-Generation Software companies.

.406 Ventures

Hopelab is a social innovation lab and impact investor advancing entrepreneurs, research, digital health, and solutions that support and empower young people, especially those from historically underserved communities. The organization works to remove systemic barriers to youth mental health and emotional well-being through targeted social impact investments, hands-on design and research support for digital innovation, and translational science partnerships. Learn more at hopelab.org.

Hopelab

Mass General Brigham Ventures is the venture capital arm of Mass General Brigham that invests in early-stage companies. The primary mission of MGB Ventures is to accelerate the translation of innovative research and technology developed within the Mass General Brigham system into commercial solutions that can significantly improve patient care and healthcare delivery.

Mass General Brigham Ventures

Valtruis, a WCAS portfolio company, provides a unique platform that invests in and partners with leaders of the health care industry.

Valtruis

General Catalyst is a venture capital firm that provides early-stage and growth equity investments. The company provides ongoing momentum that accelerates ideas, careers, and companies toward standout success.

General Catalyst

InStride Health

InStride Health provides evidence-based OCD and anxiety treatment to keep kids and teenagers engaged along the way.

InStride Health offers insurance-based access to specialty pediatric anxiety/obsessive-compulsive disorder (OCD) outpatient treatment programs for children, teens and young adults (aged 7–22). The company accepts most major insurance plans in the states it serves. Its treatment methodology includes taking care outside the office and into the environments where individual fears and anxieties exist, helping to accelerate learning and build resilience.

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

InStride Health, a Specialty Pediatric Anxiety/OCD Outpat...

InStride Health offers insurance-based access to specialty pediatric anxiety/obsessive-compulsive disorder (OCD) outpatient treatment programs for children, teens and young adults (aged 7–22). The company accepts most major insurance plans in the states it serves. Its treatment methodology includes taking care outside the office and into the environments where individual fears and anxieties exist, helping to accelerate learning and build resilience.Its patients benefit from evidence-based therapies such as cognitive behavioral therapy (CBT), acceptance and commitment therapy (ACT), and exposure and response prevention (ERP) components, focusing on exposure and delivered by a unified team consisting of a psychiatrist, therapist, and coach. The care provided starts with frequent interactions that decrease over time. The company’s services include individual and family therapy, specialized groups for children and their parents or caregivers, exposure coaching on a scheduled basis or as needed, and medication management. The company uses Measurement-Based Care (MBC) to maintain data-driven transparency and accountability. InStride treatment is entirely virtual, proven to be as effective as face-to-face treatment for young people with anxiety and/or OCD.Key customers and partnershipsInStride Health accepts most major insurance plans in the states in which it operates, which, as of March 2024, included Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island, with plans to expand to Maine. The company had contracted with 16 insurance providers as of March 2024.

Boulder Care is a telehealth provider that offers virtual addiction treatment for substance use disorders, primarily focusing on opioid and alcohol use disorders. The company provides medical care, medication management, peer recovery coaching, and case management services through a mobile app, allowing patients to connect with a multidisciplinary care team, including physicians, nurse practitioners, peer recovery specialists, and social services support. Boulder Care's treatment approach includes medication-assisted treatment (MAT), prescribing medications such as buprenorphine-naloxone (Suboxone) for opioid use disorder and naltrexone, acamprosate, and others for alcohol use disorder. The company also delivers naloxone doses to patients to help reverse opioid overdoses.The company has implemented value-based payment arrangements with insurers, tying its financial success to patient outcomes. As of May 2024, Boulder Care had served over 12,000 patients across multiple states, with a concentration in Washington, Oregon, and Ohio. The company reports retention rates of 70%–80% of patients remaining in treatment after six months, significantly above the national average. Boulder Care had also expanded its services to include treatment for adolescents as of January 2024.Key customers and partnershipsBoulder Care has established partnerships with numerous health plans and employers to provide access to its services, including Elevance Health, UnitedHealth Community Plan, and Centene.

Boulder Care

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 7 Cups provides an emotional-support platform with a network of volunteer listeners. Users can anonymously access either one-on-one chats or group chats 24/7, free of charge for issues such as depression, anxiety, relationships and those related to the LGBTQ+ community. It also teaches users skills such as meditation to improve their lives. If users want additional support, the company also provides access to an online therapy platform with a network of 180 licensed therapists for a subscription plan of USD 150 per month. 7 Cups is available for users above 13 years of age (users between 13 and 17 years old engage with listeners who are specifically trained in teenage interactions).
 
 
 Volunteer peer listeners get free training and support as well as flexible scheduling. Once a user requests a chat, it will be directed to available listeners and if the user requests a specific listener, he will be connected as soon as the listener accepts the demand. The service is anonymous and the listener has no access to the details of the user unless the information is disclosed to the listener by the user in their conversations. As of January 2022, 7 Cups has facilitated more than 51 million conversations, served 25 million individuals, and had 300,000 trained listeners. The listeners serve in 180 countries in 140 languages.
 
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7 Cups

wayForward provides technology-supported behavioral health and emotional wellness services for employers planning to make services available to their employees. It uses a screening procedure designed by neuropsychologists to triage and help employee members get clinically relevant mental healthcare. The company provides a self-guided app, text-based coaching, video visits, telepsychiatry, and if required, in-person visits or an on-site counselor. wayForward leverages its evidence-based approach and artificial intelligence in delivering its services and claims that it has been able to reduce anxiety symptoms by 48% and depression symptoms by 59%.The company raised USD 2 million in a seed round in June 2020, which brought total funding to USD 4.5 million. DarioHealth, a chronic disease management platform based in Israel, signed a definitive agreement to acquire 100% of wayForward in May 2021 for a total consideration of USD 30 million. As of May 2021, the wayForward had approximately 20,000 members and was available in North America, Australia, and Europe.

wayForward

Coa is a mental health company that conducts online classes led by licensed therapists for mental health users. The classes focus on conditions such as stress, anxiety, confidence and relationships. The company raised USD 3 million in a seed round in October 2020 from investors led by Crosslink Capital.

Meru Health is an online platform that connects patients experiencing stress, depression, anxiety, burnout, and other mental health issues to licensed therapists. The company was founded by Kristian Ranta in 2016 after his older brother died from suicide after battling depression. The platform offers a 12-week program and personalized text-based coaching services and virtual workshops. Meru also provides access to progress reports and anonymous peer support groups as well as sleep, nutrition, and mindfulness advice. The program utilizes a wearable device that monitors heart rate variability and provides real-time feedback, allowing patients to visualize the connection between their mental and physical health.In March 2024, Meru Health introduced a 100% fees-at-risk pricing model for healthcare payers and employers, guaranteeing outcomes, access, and engagement. This value-based care approach aims to incentivize enrollment, quality care delivery, cost management, and medical cost savings.The company reported a 10x YoY growth in its customer base in 2020 and plans to serve 10 million users by 2027. The company also achieved 8x YoY growth in revenue in 2020 amid an increase in demand in mental health services brought about by the Covid-19 pandemic.Key customers and partnershipsMeru Health partners with major health insurance providers, including Humana, Aetna, and Moda Health. In January 2022, the company joined Evernorth's national behavioral health provider network, making its services available to Cigna health plan customers accessing benefits through their employer or individual and family plans.Meru Health also works with employer groups to provide mental healthcare for employees. In September 2022, Meru Health and clinical trial platform Curebase <a href="https://sp-edge.com/updates/13230">announced a partnership </a>to carry out a three-year clinical trial to measure the effectiveness of Meru Health’s 12-week digital depression treatment targeting primary care patients. The study was funded by the National Institutes of Health’s Small Business Innovation Research program.

Meru Health

Online peer-to-peer platform and support system that connects mental health communities.

Mobile-based apps and FDA-approved software that incorporate evidenced-based cognitive behavioral therapy to prevent, treat, or manage mental and behavioral conditions in conjunction with or as a replacement for traditional medication.

Products for behavioral health and mental health tracking, measurement-based care, and real-time remote monitoring of patients.

Subscription or membership-based platforms and apps to connect therapists, psychiatrists or behavioral health coaches with patients.

Offers virtual offerings for mental health consultations

Mental healthcare services offer personalized care tailored to a user's needs and treatment progression

There are mental health providers offering services specifically to help LGBTQ+ or BIPOC individuals

Several mental health technology providers offer therapy services rendered by AI/ML technology

<div>
 InStride Health has successfully raised USD 30 million in a series B funding round. With support from General Catalyst as the lead, and existing investors such as 406 Ventures, Valtruis, Mass General Brigham Ventures, and Hopelab Foundation, the company's total funding has reached USD 56 million.
 The raised funds are expected to be utilized to improve InStride Health's clinical quality while also aiding in the expansion into new markets.
 Based in Massachusetts, InStride Health provides insurance-based access to mental healthcare for pediatric patients, with a focus on anxiety and obsessive-compulsive disorder (OCD). Not only does the company accept most major insurance plans in its service states, but it also brings treatment to patients outside traditional clinical settings. This approach, centered on addressing fears and anxieties in their natural environments, is designed to accelerate learning and build resilience.
 AnalystQuickTake: Before this funding round, InStride Health raised <a href="https://sp-edge.com/updates/13643"> USD 26 million </a> in October 2022. This was led by 406 Ventures, Valtruis, and Mass General Brigham Ventures, with the intention of expanding the company's treatment offerings to families and individuals in need of pediatric mental health care.
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InStride Health

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