Founder Friday: Mental Health Unicorns
Earlier this week, we shared a list of 55 Mental Health Resources for People of Color. If you spend much time online, it’s hard to miss the increased awareness of mental health. We thought we’d use this Founder Friday installment to look at the mental health startup ecosystem.
Seven. By the end of 2021, there had been seven mental health unicorns…
- Genoa Healthcare: Combines pharmaceutical services with telepsychiatry and clinical services
- Lyra Health: Workforce mental health platform
- Calm: Meditation and sleep app
- BetterUp: “Whole person growth” platform
- Talkspace: Online therapy platform
- Modern Health: Personalized preventative mental health for employees
- Ginger: On-demand behavioral health coaching, therapy, psychiatry, and self-care resources
That list will grow as in 2021 alone, VC’s invested nearly $6.9 billion into US-based behavioral health startups and another $1 billion in the first quarter of 2022. Deal flow has increased steadily since 2015…
| YEAR | # of Investments | Deal Value |
| 2015 | 110 | $0.7 billion |
| 2016 | 136 | $1.3 billion |
| 2017 | 159 | $1.4 billion |
| 2018 | 177 | $2.2 billion |
| 2019 | 208 | $2.4 billion |
| 2020 | 248 | $3.2 billion |
| 2022 | 345 | $6.9 billion |
And with increased awareness, demand, and innovation, we cannot wait to see what the future holds, especially as it relates to digital therapeutics.
Sources:
- American Psychological Association: Mental health, meet venture capital
- PitchBook: Investors back virtual future for mental health care