Hey there, mental health innovators and tech enthusiasts!

Welcome to this week's Mindtech Bytes, your go-to source for the latest in mental health tech and AI innovation. Let's dive into what's making waves in the world of digital wellness!

Table of Contents

• This Week’s Highlights

• Two Chairs Secures Growth Investment

• Grow Therapy's Unicorn Status

• Who's Disrupting Healthcare This Week?

• Quick Hit: AI in Mental Health Market Growth

• Resources

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This Week’s Highlights

Spring Health's Massive Funding Round

Spring Health, the AI-powered mental health platform, just secured a whopping $100 million in Series E funding, valuing the company at $3.3 billion.

Led by Generation Investment Management, this round is a testament to the growing importance of tech-enabled mental health solutions. CEO April Koh, the youngest woman to lead a multi-billion dollar company at 31, shared her vision: "By providing world-class mental healthcare and decreasing overall employer spend on healthcare, we believe we're on track to build one of the world's most valuable companies"

Two Chairs Secures Growth Investment

Two Chairs, a mental health startup focusing on matching patients with the right therapists, has secured a $72 million growth investment. This funding boost is set to expand their innovative approach to mental health care, potentially revolutionizing how we connect with therapists.

Grow Therapy's Unicorn Status

Grow Therapy, a platform connecting therapists with patients and insurers, has hit unicorn status with an $88 million Series C round led by Sequoia, valuing the company at $1.4 billion. Founded in 2020, Grow Therapy's rapid ascent highlights the increasing demand for flexible, accessible mental health services.

Who's Disrupting Healthcare This Week?

1. Aiberry: Secured $8 million in seed funding to accelerate the adoption of their AI-powered therapeutic assistant
   

2. Healthtech-1: Raised £2.7 million to expand automation solutions for primary care, aiming to reduce admin burden and "fix" primary care with tech
   

3. Feel Therapeutics: Developing wearable tech for monitoring mental health in clinical trials, with over $13 million raised from venture capital firms

Quick Hit: AI in Mental Health Market Growth

The global AI in mental health market is booming, estimated to grow at a CAGR of 24.10% from 2024 to 2030. This surge underscores the increasing integration of AI technologies in mental health care, promising more personalized and efficient treatment options.

Resources

🔎 Browse companies in our Wellness / Mental Health company Database!

💰 Raising money? Check out our database of Wellness Funds, Investors and Business Angels in the space.