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Workit Health

Mental Health Tech
Segments:
Telepsychiatry/Teletherapy Platforms
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Product stage:
Early
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Workit Health is a Michigan-based addiction recovery platform that provides online therapy and medically-assisted treatments for substance and process addiction, accessible via a mobile app. Its coaching and counseling program includes virtual consultations, e-prescriptions and medication, online recovery support groups, psychiatric support, an interactive therapeutic curriculum, and direct messaging with a care team. Additionally, it provides primary care services for co-occurring conditions, unlike its competitors. The company focuses on maintaining engagement rather than maintaining sobriety. This approach allows members to collaborate with healthcare providers on their own care goals. 

The company has recorded a 5x membership growth since April 2020. As of October 2021, its licensed clinical support for substance use disorder and co-occurring conditions was available in 10 states, including California, Florida, Washington, and Texas. Its coaching and counseling program is available nationwide to more than 93 million lives via partnerships with health plans, employers, and individuals. 

The company’s latest funding round took place in October 2021, where it raised USD 118 million in a Series C funding round led by Insight Partners. The funds will be used to enter new markets and reach national coverage for its services by 2023 as well as to offer treatments for other medical conditions related to addiction care. The latest funding round values the company at USD 500 million and brings the total funds raised to USD 138 million.

Mental Health Tech

Mental Health Tech

Key stats
Featured companies
189
Total funding (USD)
11.0 Bn
Total addressable market (USD)
94.3 Bn
Key competitors
 
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Product Overview
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Company profile
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Company Brief


HQ location:
3300 Washtenaw Ave. Ste 280 Ann Arbor MI USA
Founded year:
2015
Employees:
101-250
Total Funding:
USD 138.2 million
Last Funding
USD 90.0 million, Oct 2021

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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