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 InvestmentsDeal Value
2015110$0.7 billion
2016136$1.3 billion
2017159$1.4 billion
2018177$2.2 billion
2019208$2.4 billion
2020248$3.2 billion
2022345$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.


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