digital health funding
During a discussion at the Frontiers Health Global Hybrid Conference, panelists said a more competitive funding environment could push startups and investors to focus on quality.
According to Rock Health's analysis, startups raised $2.2 billion across 125 deals, making Q3 the lowest quarter by dollars raised since Q4 2019.
The mental health company will use Curebase's decentralized clinical trial platform to study its treatment program's efficacy.
The Rock Health report found U.S. digital health startups raised $10.3 billion in the first half of 2022, putting the year on track to fall short of 2021. But there are some bright spots for the sector.
This brings the company's valuation to $1 billion.
The company now operates in six states and treats mental health conditions and substance use disorder.
The company plans to use the new capital to grow its team, move into new markets and expand its scope beyond primary care.
This new infusion of cash brings the company's total raise to $10 million.
The company plans to use the capital infusion to grow its teams across the board.
The company plans to use the money to build out its care coordination staff as well as its sales and marketing teams.