With more than $100 million in total funding, the telemedicine company is poised for its next phase of growth.
San Francisco, March 26, 2024–(BUSINESS WIRE)–Telehealth company Brightside Health today announces a strategic Series C raise led by S32 and the appointment of industry titan Trip Hofer to its board of directors to advise on go-to-market strategy and execution. did. . This news builds on the company's recent momentum, including new and expanded payer partnerships to support Medicaid and Medicare livelihoods, and notable achievements in its award-winning crisis care program for individuals at high risk of suicide. It is based on.
Through precision psychiatry, clinically proven treatments, and crisis care, Brightside Health treats people with mild to severe clinical depression, anxiety, and other mood disorders, including those at high risk of suicide. ) provides services. This impressive activity and results attracted lead investors his S32 along with Kennedy Lewis, Time BioVentures and Anne Wojcicki (Redwood Pacific). Existing investors ACME, Mousse Partners and Triventures also contributed to his $33 million raise. This amount will be used to accelerate Brightside Health's growth into new markets and new products. All of this comes at a critical time for a country where one in five adults lives with a mental illness such as anxiety or depression.
“Brightside Health is on an exciting trajectory and S32 is excited to support their mission to make mental health care more easily accessible to everyone,” said S32 General Partner says Dr. Mike Perini. “The company is well-positioned to expand services to Medicare, Medicaid, and other underserved populations, while partnering with payers and providers to deliver measurably better outcomes.” there is.”
Since raising $50 million in Series B in November 2021, Brightside Health has made significant progress, building programs for individuals with severe mental health conditions and increasing underserved populations. We have expanded into new markets, published more than a dozen peer-reviewed research papers, and strengthened our leadership bench. Brightside Health also continues to appoint advisors and respected industry leaders to its Board of Directors to support its aggressive and achievable expansion goals, and its newest members include: Hofer, whose deep experience further strengthens Brightside Health's market reach. initiative and execution.
“We're thrilled to be working with Optum Behavioral Health Solutions,” said Trip Hofer, member of Brightside Health's board of directors and former CEO of Optum Behavioral Health Solutions. “Brightside Health has a proven track record in delivering quality health care and meaningful growth over the past few years, indicating that we have a clear competitive advantage. We look forward to advising on opportunities that will help us scale effectively and maximize impact for both patients and payers.”
Brightside Health's services are available to commercially insured and cash-paying patients in all 50 states, as well as Medicaid and Medicare beneficiaries in select states. In fact, Brightside Health recently announced expanded partnerships with payer partners including CareOregon, Blue Cross and Blue Shield of Texas, and Centene. With this Series C funding, the organization's leadership continues to plan for further expansion.
“We are excited to announce this increase and look forward to helping take Brightside Health to its next stage of growth,” said Brad Kittridge, co-founder and CEO of Brightside Health. We welcome Tripp, who is a great thought leader in the industry.” “These significant advances will allow us to accelerate our expansion into Medicare, Medicaid and beyond, while further deepening our technology and AI advantages to deliver best-in-class outcomes. , consistent with our continued focus on capital-efficient enterprise value creation,” which puts us on a comfortable path to profitability while further advancing our goals and mission. ”
For more information about Brightside Health, please visit www.brightside.com.
About Brightside Health
Brightside Health provides lifesaving mental health care to people with mild to severe clinical depression, anxiety, and other mood disorders, including those at high risk for suicide. Brightside Health leverages proprietary AI, purpose-built technology, and a world-class clinician network to combine precision psychiatry with cutting-edge treatment technology to provide patient care across clinical domains at affordable cost and at scale. Improve outcomes. Brightside Health accepts insurance payments in all 50 states and Washington, DC, and offers appointments within 48 hours. For more information, please visit www.brightside.com.
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contact address
Hannah Changi
brightside health
press@brightside.com
