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Mental Health Tech

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

Overview

Making mental health services accessible and affordable

Mental health tech refers to services that help treat mental health conditions via mobile and/or online platforms. A main function of mental health tech platforms is to connect physicians and practitioners directly to patients without barriers such as a lack of proximity, prohibitive cost, or long wait times in the doctor’s office.

The mental health tech ecosystem is broad and includes telepsychiatry platforms, digital therapeutics, monitoring/measuring tools, and peer to peer apps. Telepsychiatry is at the forefront of the industry, and has been gaining traction with a growing number of users. Monitoring/ measuring tools follow, but the services have yet to see mass adoption. Digital therapeutics (software-based therapeutic interventions given directly to patients for preventing, managing, or treating mental disorders) is an emerging segment with just a few successful product launches, but it shows great potential.

What's driving this industry?
Market Sizing

The US telepsychiatry market size could reach USD 4.9-8.7 billion by 2025

Conservative case

USD 4.9 Bn

Base case

USD 6.8 Bn

Expansion case

USD 8.7 Bn

USD million1,0002,0003,0004,0005,0006,0007,0008,0009,0002019202020212022202320242025
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COVID-19 IMPACT

Talkspace: 25% increase in user volume from mid-February to May 2020. 23% YoY increase in app installation reported in September 2020. 

Betterhelp: A doubling of users reporting stress and anxiety between Feb and March 2020.

Ginger: 159% increase in usage of its text-based mental health coaching service over pre-pandemic levels. 302% increase in virtual therapy and psychiatry sessions over pre-pandemic levels. 

Neuroflow: Expanded customer base 10x to 330,000 registered users by the end of 2020.

Lyra Health: More than doubled membership to 1.5 million users between February and August 2020.

Market Mapping

Incumbents in the industry deliver telepsychiatry services as part of their telemedicine services while disruptors specializing in mental health tech have successfully established their foothold in the market mainly due to the increasing number of mental health patients. Most of the disruptors are concentrated in the telepsychiatry segment, given its popularity of facilitating live interaction sessions with psychiatrists as an alternative to in-person doctor visits.

Incumbents
Growth
Early
Seed
Pre-Seed
Telepsychiatry Platforms
?
Monitoring and Measuring Tools
?
Digital Therapeutics
?
P2P Support Tools
?
HealthRhythms
HealthRhythms
HealthRhythms
HealthRhythms
Teladoc Health
Amwell
Lyra Health
Cerebral
Talkspace
Elemy
Spring Health
Ginger
Quartet Health
SonderMind
Mindstrong
Headway
Alma
Unmind
AbleTo
Mantra Health
Wellin5
MindRight Health
Cloud 9
LifeStance Health
Workit Health
Brightline
Aptihealth
Groups Recover Together
Cortica
Meru Health
NOCD
Octave
Bicycle Health
Little Otter
DotCom Therapy
Monument
Concert Health
Boulder Care
Zenklub
QLER Telehealth
Brave Health
ifeel
Joon Care
Coa
Nivati
Ophelia
Eleanor Health
Brightside Health
Valera Health
Talkiatry
Lucid Lane Inc.
Opya
Real Therapy
Grow Therapy
Pace Group Inc.
Healios
PursueCare
HelloSelf
Rey
Ahead
HelloHero
Mindful Care
DynamicCare Health
Calmerry
Hurdle
Minded
wayForward
Mine’d
Spill App
NUE Life Health
MiResource
Integrative Health Centers
Parallel Learning
Therify
Done
First Session Health Inc.
Reviving Mind
MindLabs
Oliva
Daybreak Health
Ayana Therapy
Uprise Health
Therapy Brands
Linus Health
NeuroFlow
BrainCheck
XRHealth
Ellipsis Health
Osmind
Eleos Health
Blueprint
NUE Life Health
HealthRhythms
Ksana Health
Clarigent Health
Rose
Nirvana Health
Frame
Uprise Health
AdiGroup
Pear Therapeutics
Akili Interactive Labs
Modern Health
Koa Health
MindBeacon Software Inc.
Healthy Quit
Click Therapeutics
BlackThorn Therapeutics
Big Health
Happify Health
Woebot Health
Quit Genius
ieso
AppliedVR
Cognoa
NOCD
Mightier
Freespira
Equip Health
Wysa
Blue Note Therapeutics
Limbix
BehaVR, LLC
Affect Therapeutics
BeMe
Youper
Inflow
Reframe
UpLift Health
Wave
Revery
Cognito Therapeutics
7 Cups
Sober Grid
Togetherall
TalkLife
MentalHappy
Arli
Circles
Marigold Health
Supportiv
ForLikeMinds

The Disruptors

Monitoring and Measuring and Telepsychiatry Form the Bulk of Mental Health Tech Disruptors while Digital Therapeutics Lead in terms of Funding

The mental health tech space currently has around 340 startups comprising telepsychiatry platforms, digital therapeutics, monitoring/measuring tools and peer-to-peer apps (the segments focused on in this report). By numbers, monitoring and measuring and telepsychiatry form the bulk of the sector’s startups. In terms of funding, however, digital therapeutics takes the largest share, despite its smaller number of startups. Digital therapeutics’ larger funding share could be explained via its products’ prescription-based nature, which calls for heavy investments before passing stringent regulatory compliance.

Telepsychiatry Platforms

?

Disruptors

?
Funding in USD Millions
LifeStance Health
Public - Market cap USD 2.8 bn
Talkspace
Public - Market cap USD 243.1 mn
Lyra Health
910
Cerebral
462
Elemy
323
Spring Health
296
Ginger
221
Quartet Health
220
SonderMind
183
Mindstrong
160
Workit Health
138
Brightline
104
Headway
101
Alma
91
Ophelia
68
Aptihealth
65
Unmind
63
Groups Recover Together
60
Cortica
60
Meru Health
51
NOCD
50
AbleTo
47
Octave
34
Bicycle Health
32
Eleanor Health
32
Brightside Health
31
Valera Health
27
Little Otter
26
Talkiatry
20
Opya
19
DotCom Therapy
18
Monument
18
Real Therapy
16
Grow Therapy
15
Concert Health
15
Boulder Care
14
Healios
13
PursueCare
13
Zenklub
12
QLER Telehealth
12
Rey
10
Brave Health
10
ifeel
10
Ahead
9
HelloHero
8
Mindful Care
7
DynamicCare Health
7
Calmerry
5
Hurdle
5
Wellin5
1
Cloud 9
Unknown
Done
Unknown
Watchlist
?
Mantra Health
Lucid Lane Inc.
Pace Group Inc.
HelloSelf
MindLabs
Minded
wayForward
Mine’d
Spill App
Joon Care
NUE Life Health
MiResource
Coa
Integrative Health Centers
Parallel Learning
Oliva
Daybreak Health
Therify
Nivati
MindRight Health
Ayana Therapy
First Session Health Inc.
Reviving Mind

Monitoring and Measuring Tools

?

Disruptors

?
Funding in USD Millions
Linus Health
65
NeuroFlow
31
Ellipsis Health
30
BrainCheck
25
XRHealth
24
Nirvana Health
15
Eleos Health
8
Therapy Brands
Unknown
Watchlist
?
Osmind
Blueprint
NUE Life Health
Frame
HealthRhythms
Ksana Health
Clarigent Health
Rose

Digital Therapeutics

?

Disruptors

?
Funding in USD Millions
MindBeacon Software Inc.
Public - Market cap USD 63.1 mn
Click Therapeutics
911
Pear Therapeutics
409
Akili Interactive Labs
301
Modern Health
167
BlackThorn Therapeutics
138
Big Health
129
Happify Health
119
Woebot Health
114
Quit Genius
79
ieso
78
AppliedVR
71
Cognoa
54
Koa Health
53
NOCD
50
Blue Note Therapeutics
47
Limbix
31
Mightier
29
Freespira
20
Equip Health
17
Wysa
9
Affect Therapeutics
7
BeMe
7
Watchlist
?
BehaVR, LLC
Youper
Inflow
Wave
Revery
Reframe
UpLift Health
Healthy Quit
Cognito Therapeutics

P2P Support Tools

?

Disruptors

?
Funding in USD Millions
Togetherall
10
Marigold Health
4
Supportiv
0
7 Cups
Unknown
Circles
Unknown
Watchlist
?
Sober Grid
TalkLife
MentalHappy
ForLikeMinds
Arli

LifeStance Health

LifeStance Health provides a range of mental health care services, both in-person and online, including psychiatric appointments, medication management, individual therapy, and group therapy. As of May 2021, the company served patients across 27 US states via 370 centers, employing more than 3,300 clinicians.

Segment:
Telepsychiatry Platforms
Competitors:
Talkspace, Ginger, Quartet Health
Disruptor Funding History

Telepsychiatry Platforms:

Talkspace
Lyra Health
Cerebral
Elemy
Spring Health
Ginger
Quartet Health
SonderMind
Mindstrong
Workit Health
Brightline
Headway
Alma
Ophelia
Aptihealth
Unmind
Groups Recover Together
Cortica
Meru Health
NOCD
AbleTo
Octave
Bicycle Health
Eleanor Health
Brightside Health
Valera Health
Little Otter
Talkiatry
Opya
DotCom Therapy
Monument
Real Therapy
Grow Therapy
Concert Health
Boulder Care
Healios
PursueCare
Zenklub
QLER Telehealth
Rey
Brave Health
ifeel
Ahead
HelloHero
Mindful Care
DynamicCare Health
Calmerry
Hurdle
Wellin5
Mantra Health
Lucid Lane Inc.
Pace Group Inc.
HelloSelf
MindLabs
Minded
wayForward
Mine’d
Spill App
Joon Care
NUE Life Health
MiResource
Coa
Integrative Health Centers
Parallel Learning
Oliva
Daybreak Health
Therify
Nivati
MindRight Health
Ayana Therapy

Monitoring and Measuring Tools:

Linus Health
NeuroFlow
Ellipsis Health
BrainCheck
XRHealth
Nirvana Health
Eleos Health
Osmind
Blueprint
NUE Life Health
Frame
HealthRhythms
Ksana Health
Clarigent Health

Digital Therapeutics:

The Incumbents

Most incumbents are established telehealth players that expanded into mental health through acquisitions

The incumbents in the mental health tech industry are mainly established telehealth players that have expanded their virtual care scope to cover mental health. Many leading telehealth players have already ventured into the mental health market by acquiring mental health telehealth providers.

Telepsychiatry Platforms
Monitoring and Measuring Tools
Digital Therapeutics
P2P Support Tools
In House Development
M&A
Partnership
Investment

Notable Investors

No investor data is available

Funding data are powered by Crunchbase
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