InStride Health, a pediatric mental health care provider, announcement On Monday, it raised $30 million in Series C funding to expand into new markets.
Boston-based InStride Health offers virtual specialty outpatient care for pediatric anxiety and obsessive-compulsive disorder. Its care is based on cognitive behavioral therapy, focusing on exposure therapy, in which patients are gradually exposed to situations they fear. The company works with patients aged 7 to 24 and their families, providing a care team consisting of a therapist, an exposure coach and a psychiatrist. The team develops a personalized care plan and patients can communicate with their care team by text, phone or video.
The Series C round includes support from new investors Echo Health Ventures and FMZ Ventures, as well as existing investors .406 Ventures, Valtruis, General Catalyst and Mass General Brigham Ventures.
“As behavioral health transitions from access to outcomes, we believe high-quality, specialty models like InStride are incredibly well positioned. They have built a comprehensive alignment of care and incentives that consistently delivers sustainable ROI for payers, and have proven their ability to replicate the model in many markets at scale. We are excited to support the company in its next phase of growth,” Kurt Sheline, partner at Echo Health Ventures, said in a statement.
With this funding, InStride Health will expand into new markets while expanding its coverage in existing markets, according to John Voith, co-founder and CEO of InStride. It currently operates in 17 states and has served more than 5,000 patients.
“This will help us add specialized capabilities for payers and employers in areas where evidence-based care for complex anxiety, OCD and related disorders is difficult to access, while helping to ensure that geography and insurance status no longer pose barriers to care,” Voith said. “Most importantly, it will enable more young people to access high-quality specialist treatment, graduate and thrive. »
Recent outcomes data from InStride Health revealed that 97% of graduates experienced overall clinical improvements and more than 99% of patients remained out of the hospital one year after discharge. Additionally, 81% of caregivers reported a reduction in their own stress, and more than 90% reported a reduction in work absences.
Ultimately, the company aims to expand access to evidence-based specialty care for young people, while maintaining clinical quality, Voith said.
“As we expand into new and existing markets, we work to ensure more families can access the high-quality care they need while preserving the strong clinical outcomes that have defined InStride’s approach,” he said.
Other pediatric mental health companies include Brightline and Little Otter.
Photo: Topp_Yimgrimm, Getty Images
