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        Massachusetts-based startup Cartwheel has raised USD 20 million in Series A funding led by Menlo Ventures, bringing its total funding to USD 24 million. Other participants in the round include General Catalyst, Reach Capital, BoxGroup, and Able Partners.
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        The funding will be used to expand mental health services to more students in current service areas and school districts in new states, as well as improve the company&rsquo;s technology.
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        Cartwheel is a teletherapy provider that partners with school districts to provide virtual mental health care services to children and adolescents. Services include weekly one-on-one sessions with a therapist, group therapy sessions, and medication support. The company also partners with commercial health plans and Medicaid to pay for the care it provides and currently serves around 50 school districts across several states.
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    <a href="https://medcitynews.com/2023/09/youth-mental-health-school/">
      MedCityNews
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    <a href="https://hitconsultant.net/2023/09/26/cartwheel-tackle-the-student-https://hitconsultant.net/2023/09/26/cartwheel-tackle-the-student-mental-health-crisis-funding/mental-health-crisis-funding/">
      HITConsultant
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Mental Health Tech

Cartwheel, a teletherapy provider, has raised $20 million in Series A funding, led by Menlo Ventures, bringing its total funding to $24 million. The funding will be used to expand mental health services for students in current service areas and new states, as well as improve the company's technology. Cartwheel partners with school districts to provide virtual mental health care services, including one-on-one sessions with therapists, group therapy, and medication support. The company also works with commercial health plans and Medicaid. Currently, Cartwheel serves around 50 school districts across multiple states.

Cartwheel raises USD 20 million in Series A funding

DISRUPTOR_PRESENT

German digital therapeutics startup HelloBetter has secured an additional EUR 5 million in funding from HSBC Asset Management's Financial Technology Venture Capital strategy. This brings the total funds raised in 2023 to EUR 12 million and the overall total to EUR 25 million. The funds will be used to expand the company's digital therapeutics portfolio, as well as invest in sales, marketing, and data analytics. Six of HelloBetter's therapy programs are available for free to publicly insured adults in Germany, and the company expanded into the US market in 2022 with its brand HelloGina, which focuses on sexual wellness.

HelloBetter raises additional EUR 5 million funding from HSBC Asset Management

Virtual substance use disorder treatment provider NorthStar Care has secured $6 million in seed funding to expand the adoption of its virtual treatment program. Co-led by Tony Robbins and Starting Line, the round also saw participation from existing board directors including the Honorable Patrick J. Kennedy, Dan Kossmann, and Mike Liddell. NorthStar Care was founded in 2021 by a board-certified addiction medicine physician and a data scientist. The company offers digital programs that include medication, nutritional therapy, virtual reality anonymous peer support groups, a dedicated care team, psychiatry services, and family education.

NorthStar Care raises USD 6 million in seed funding

PROMINENT_CATEGORY

Teletherapy startup Equip has secured $20 million in funding, with General Catalyst leading the round. The funds will be used to expand its virtual eating disorder therapy program to include adults. The new program has already partnered with over 15 health plans, including national payers and Medicaid plans. Equip plans to take a different approach to treating adults by using cognitive behavior-enhanced (CBT-E) therapy and involving loved ones in therapy.

Equip Health raises USD 20 million; plans launch for treating adults

Digital therapeutics startup, Akili, is shifting its business model to focus on direct-to-consumer (D2C) sales. This move will result in a 40% reduction of its workforce and a transition away from its previous prescription-based approach. The company expects this shift to reduce operating costs by 20% and improve gross profit margins to at least 60%. The move is aimed at extending the company's cash runway until the second half of 2025. Akili recently launched EndeavorOTC, an over-the-counter version of its FDA-approved software for adults with ADHD. The company plans to obtain FDA approval for a pediatric version and seek formal OTC clearance for its adult-focused software.

Akili departs prescription digital therapeutics market; leads to 40% staff layoff

Concord Health Partners has invested an undisclosed amount in NeuroFlow, a behavioral health software-as-a-service (SaaS) platform. The funding will enable NeuroFlow to further develop its platform in response to increasing demand from various healthcare organizations. NeuroFlow already serves over 16 million members through its technology.

Concord Health Partners invests in NeuroFlow

Headspace and Castell have formed a partnership to bring mental health services to members of certain insurance plans in Utah. The goal is to enhance health outcomes by offering personalized mental healthcare. Castell will direct eligible members to Headspace for behavioral health coaching and therapy, allowing them to connect with a team of licensed therapists and coaches using an outcomes-based payment model.

Headspace and Intermountain’s Castell sign mental health support partnership

Talkspace has partnered with ŌURA to allow members to share their sleep and activity data with their therapists. This partnership will help therapists gain insights into the connection between sleep quality, physical activity, and mental health. By analyzing sleep and movement patterns, therapists can understand patient progress, create customized treatment plans, and set health goals in collaboration with their patients.

ŌURA and Talkspace partner to share data with therapists

Teale, a French mental health platform, has raised EUR 10 million (USD 11 million) in a Series A funding round. The funding will be used to increase the team size and expand to new countries. Teale offers a teletherapy solution to help prevent burnout and quitting for employees and HR managers. The platform uses technology and cognitive and behavioral sciences to engage employees and provide support through coaching and access to psychiatrists and therapists. It has already served over 100 customers, including large companies such as Sanofi and Carrefour.

Teale raises EUR 10 million in Series A funding

Healthcare company Better Life Partners has raised $26.5 million in a Series B funding round, bringing its total funding to $38 million since its founding in 2018. Led by aMoon and F-Prime Capital, with participation from .406 Ventures, the funding will be used to develop its tech-enabled care model for substance use disorders (SUD) and expand its population management services. Better Life Partners offers a multi-specialty solution that includes SUD treatment, mental and physical health care, and care coordination. The company aims to provide a community-embedded and whole-health approach to improve outcomes for individuals and populations with SUD.

All Updates