Photo Credit: Emma Simpson on Unsplash

In Sickness and In (Digital) Health: Digital Behavioral Health in a Post-Pandemic World

By Marc Cho, Jackie Carmel, Brynn Chavez

Distinct types of company compose the digital behavioral health landscape: (a) clinical platforms that connect patients with therapists and formal care, (b) non-clinical “wellness” platforms for activities like meditation and mindfulness, and (c) telehealth / digital therapeutics generalists that offer behavioral health capabilities like teletherapy or addiction treatment. Companies not marked with a flag are US-based.

Growing adoption leads to increased funding

Source: Cigna
Sondermind Co-founder and CEO, Mark Frank. Sondermind grew its revenue more than 400% last year and raised a $27M Series B in April 2020. Photo credit: Blackstone Entrepreneurs Network
Digital behavioral health, now composing nearly one out of every five dollars of VC funding in digital health, is establishing itself as a key pillar of the broader ecosystem. US funding soared to a new high of $2.4B in 2020, and as of the end of Q1, is on pace to more than double that figure in 2021.

The consumerization of behavioral health

Workit Health Co-founders, Robin McIntosh (left) and Lisa McLaughlin (right). Workit has seen demand for its services triple since the beginning of the pandemic, and raised a $12M Series B in December 2020. Photo Credit: Julia O Test

Exits and opportunities

Where do we go from here?

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