Valera Health

New York-based Valera is a B2B telepsychiatry platform that offers personalized digital mental health services using a team-based care approach that gives patients access to a care team consisting of in-network health coaches, therapists, counselors, social workers, nurse practitioners, and psychiatrists. Valera matches patients with an appropriate therapist after an initial consultation with a health coach and the patient’s care team creates a treatment plan. 

Founded in 2015, the company’s services include therapy, meditation, and medication for a range of mental health conditions from mild depression to severe schizophrenia. The company caters to members of insurance companies and employers with a mobile app that provides patients with access to their care team, video consultations, and a library of wellness and meditation programs. As of March 2022, the company covered more than 30 million lives through partnerships with more than 20 health plans across seven states. Valera claims that its treatment has led to depression improvement rates of more than 80%.

Key customers and partnerships

In July 2023, Valera Health became an in-network provider for health insurer Humana. Through the partnership, members of Humana’s Medicare Advantage offering gained access to Valera’s licensed therapists, psychiatrists, nurse practitioners, and case managers, along with the company’s care platform and app. Valera’s services was initially made available to Humana members across ten states, with plans to cover members across the US in September 2023.

Funding and financials

In October 2022, the company raised USD 44.5 million in an equity growth funding round led by Heritage Group along with participation from other current and new investors including Cigna Ventures. While the company did not specifically mentioned what the recently raised funds were set aside for, it mentioned that the funds were earmarked for increasing access to its mental health services.