Total amount raised
$50 Millions
Latest funding date
9/1/2016
Location
Brightline has successfully raised significant funding through multiple rounds, with notable investors including Northwell Health and 7wire Ventures. The platform offers comprehensive mental health care services for children, teens, and their families, focusing on both in-person and virtual care.
Keep reading to explore the intricacies of Brightline's fundraising journey and the investors backing this innovative platform.
What Is Brightline?
Brightline, founded in 2019, is a med-tech company based in Palo Alto, California. The company was established by Amanda D'Ambra Manian, Giovanni Colella, and Naomi Allen. Brightline employs between 251-500 people.
Specializing in behavioral healthcare, Brightline offers integrated care through innovative technology and virtual services. Their collaborative care team supports children across various developmental stages and their families.
Brightline's services include psychological testing, therapy, psychiatry, and specialized programs for conditions like anxiety, OCD, and ADHD. They also provide behavioral health coaching through their BrightLife Kids program.
How Much Funding Has Brightline Raised?
- Series A
- Amount Raised: $20M
- Date: September 2016
- Lead Investors: Joe Moglia
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their service offerings and scale operations.
- Private Equity Round
- Amount Raised: $30M
- Date: July 2011
- Lead Investors: JMI Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and enhance technological capabilities.
- Series C
- Amount Raised: $105M
- Date: July 2022
- Lead Investors: KKR & Co.
- Valuation at Round: $705M
- Motivation Behind the Round: To use the funding for staffing and to broaden its offerings.
Total Amount Raised: $155M. Current Valuation: $705M.
Key Investors
- Northwell Health
- Details: Northwell Health is New York State's largest healthcare provider and private employer. It operates 23 hospitals and nearly 800 outpatient facilities.
- Investment Focus Areas: Healthcare services, medical research, community health.
- Notable Investments: Not publicly disclosed.
- 7wire Ventures
- Details: 7wire Ventures is a venture capital firm that invests in early and growth-stage companies. It focuses on companies that empower consumers to be better stewards of their health.
- Investment Focus Areas: Digital health, healthcare services, consumer health.
- Notable Investments: Livongo, Tempus, Zerigo Health.
- KKR & Co.
- Details: KKR & Co. is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. It has a long history of investing in various sectors worldwide.
- Investment Focus Areas: Healthcare, technology, infrastructure.
- Notable Investments: Epicor Software, WebMD, Envision Healthcare.
- GV
- Details: GV, formerly known as Google Ventures, is the venture capital investment arm of Alphabet Inc. It focuses on technology companies and has a diverse portfolio.
- Investment Focus Areas: Technology, healthcare, life sciences.
- Notable Investments: Uber, Slack, Flatiron Health.
- Optum Ventures
- Details: Optum Ventures is the venture capital arm of Optum, a health services and innovation company. It invests in companies that use data and technology to improve healthcare.
- Investment Focus Areas: Healthcare innovation, health services, data analytics.
- Notable Investments: Buoy Health, Mindstrong Health, RubiconMD.
What's Next for Brightline?
Brightline's recent $105 million funding round positions the company to significantly expand its staffing and service offerings. This substantial investment reflects the growing demand for digital mental health solutions, particularly in pediatric care. As the digital health sector continues to attract significant investments, Brightline is well-placed to capitalize on these trends and broaden its market reach.
Future fundraising opportunities seem promising, given the current momentum in the digital health industry. However, Brightline will need to navigate challenges such as scaling operations while maintaining service quality and facing competition from other well-funded startups. Ensuring compliance with healthcare regulations will also be crucial as they expand.
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