Mental Health Tech Startups Fetch Record $1 6B Investments kmaj1440.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kmaj1440.com Daily Mail and Mail on Sunday newspapers.
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Modern Health, maker of a mental health and wellness platform for employer customers, has uncorked a $51 million Series C funding round headed by Battery Ventures. The raise also included prior investors Kleiner Perkins, Founders Fund, 01 Advisors, Afore Capital and Okta cofounder Frederic Kerrest, as well as new backer Felicis Ventures.
This raise – which lands less than a year after Modern s $31 million Series B from January – now brings the company s lifetime capital raise to $93 million and, according to Modern, its valuation to more than $500 million.
WHAT IT DOES
Based in San Francisco, Modern Health provides employers and their staff with a package of mental health benefits coordinated within an app. After completing a self-assessment, the system puts together a program of digital wellness content covering stress, relationship guidance, financial wellbeing and other focus areas that the user is interested in. If necessary, the platform will also connect patie