Telepsychiatry/teletherapy platform provider Grow Therapy has secured USD 88 million in a Series C funding round led by Sequoia Capital with participation from new investors, including Growth Equity at Goldman Sachs Alternatives, PLUS Capital, and existing investors, which included Transformation Capital, SignalFire, and TCV. This brings the total funds raised by the company to USD 178 million.

The company also launched its upgraded measurement-informed care system, which aims to improve the care experience for clients and providers while ensuring that value-based behavioral care is accessible to all patient groups, including Medicaid and Medicare members.

Analyst QuickTake: Prior to this, the company raised USD 75 million in a Series B funding round led by TCV and co-led by Transformation Capital in September 2022. Among others, the funds were expected to be used to expand the platform’s health plan coverage. As of April 2024, the company had expanded its geographical reach to 20 states.