Octave is a teletherapy app that offers a range of evidence-based therapy options, including both in-person and virtual sessions. These therapy services cover various formats such as individual, group, and couples therapy. Octave follows a personalized approach by matching patients with suitable therapists and creating customized treatment plans to address their specific needs. In addition to therapy, Octave also provides coaching services aimed at enhancing individuals' mental and emotional well-being.
The company operates a B2B2C business model, partnering with some of the biggest insurance companies in the US. As of June 2023, Octave has served 18 million covered lives across seven states.
In June 2023, the company raised USD 52 million in Series C funding led by Cigna Ventures, Novo Holdings, and Avidity Partners. The funds were allocated towards supporting its national expansion efforts into new markets and all 50 states by 2024, as well as the development of new technology products to serve payer and provider partners.
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