Total amount raised
$114.4 Millions
Latest funding date
Location
Brightside Health has successfully raised $33 million in Series C funding, with plans to expand its services to Medicare and Medicaid populations. The telemedicine platform integrates precision psychiatry with advanced therapeutic techniques, offering evidence-based mental health treatments through video visits, messaging, ongoing support, and medication delivery.
Keep reading to explore the intricacies of Brightside Health's fundraising journey and the investors backing this innovative platform.
What Is Brightside Health?
Brightside Health, founded in 2017, is a telemedicine platform based in San Francisco, California. The company specializes in mental health care, offering services such as precision psychiatry, clinically proven therapy, and continuous care monitoring.
Founded by Brad Kittredge, Jeremy Barth, and Mimi Winsberg, Brightside Health employs between 251 and 500 people. The platform provides evidence-based treatments through video visits, messaging, and medication delivery, aiming to offer personalized mental health care that helps members feel better faster and stay that way longer.
How Much Funding Has Brightside Health Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 4, 2018
- Lead Investors: Village Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial foundation and develop the core technology for the platform.
- Seed Round
- Amount Raised: $2.4 million
- Date: June 28, 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin initial market entry.
- Venture Round
- Amount Raised: $5 million
- Date: March 5, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance service offerings.
- Series A
- Amount Raised: $24 million
- Date: May 28, 2021
- Lead Investors: ACME Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand into new markets.
- Series B
- Amount Raised: $50 million
- Date: March 28, 2022
- Lead Investors: ACME Capital, Mousse Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop programs for severe mental health conditions and expand into underserved markets.
- Series C
- Amount Raised: $33 million
- Date: March 26, 2024
- Lead Investors: S32, Kennedy Lewis Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services to Medicare and Medicaid populations and enhance technology and AI capabilities.
Total Amount Raised: $114.4 million. Current Valuation: Not publicly disclosed.
Key Investors
- S32
- Details: S32, also known as Section 32, is a venture capital firm that invests in technology and healthcare sectors. They led the Series C funding round for Brightside Health.
- Investment Focus Areas: Technology, healthcare, life sciences
- Notable Investments: Not publicly disclosed
- Kennedy Lewis Investment Management
- Details: Kennedy Lewis Investment Management is a private investment firm that focuses on opportunistic credit investments. They participated in the Series C funding round for Brightside Health.
- Investment Focus Areas: Opportunistic credit investments, special situations
- Notable Investments: Not publicly disclosed
- ACME Capital
- Details: ACME Capital is a venture capital firm that focuses on early-stage technology companies. They have been an existing investor in Brightside Health and continued their support through the Series C funding round.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Not publicly disclosed
- Mousse Partners
- Details: Mousse Partners is a private investment firm that invests in a wide range of sectors, including technology and consumer goods. They are an existing investor in Brightside Health and participated in the Series C funding round.
- Investment Focus Areas: Technology, consumer goods, diverse sectors
- Notable Investments: Not publicly disclosed
- Triventures
- Details: Triventures is a venture capital firm that focuses on healthcare and medical technology investments. They are an existing investor in Brightside Health and participated in the Series C funding round.
- Investment Focus Areas: Healthcare, medical technology
- Notable Investments: Not publicly disclosed
What's Next for Brightside Health?
Brightside Health is poised to capitalize on significant opportunities in the mental health sector. With the recent $33 million Series C funding, the company plans to expand its services to Medicare and Medicaid populations, tapping into a large and growing market. Leveraging advanced AI and technology, Brightside aims to enhance care delivery and outcomes, positioning itself as a leader in precision psychiatry and clinically proven therapy.
Future fundraising opportunities appear promising as the demand for telemental health services continues to rise. Brightside Health's successful funding rounds and strategic partnerships with payers and providers suggest potential for additional investments to support further expansion and technological advancements. However, the company may face challenges such as regulatory hurdles, competition from other providers, and the need to maintain high-quality care while scaling operations.
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