Total amount raised
$100 Millions
Latest funding date
4/1/2024
Location
Two Chairs has successfully raised significant funding through multiple rounds, including a Series C round. The company operates a mental health therapy platform that offers both in-person and online psychotherapy services.
Keep reading to explore the intricacies of Two Chairs' fundraising journey and the investors backing this innovative platform.
What Is Two Chairs?
Two Chairs, founded in 2017 by Alex Katz, is a behavioral health company based in San Francisco, California. The company operates a mental health therapy platform that offers both in-person and online psychotherapy services.
With a mission to provide exceptional mental health care, Two Chairs focuses on matching clients with the right therapist to ensure effective therapy outcomes. Their services include therapy matching, emotionally focused therapy, and a clinician dashboard for measurement-based care.
Currently, Two Chairs employs between 501 and 1000 people, reflecting its significant growth and commitment to expanding access to mental health services.
How Much Funding Has Two Chairs Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Goldcrest Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop the initial platform.
- Series A
- Amount Raised: $7M
- Date: January 2018
- Lead Investors: Maveron
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the therapy matching technology.
- Series B
- Amount Raised: $21M
- Date: December 2019
- Lead Investors: Amplo
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve the measurement-based care system.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Bridge Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational cash flow and expansion efforts.
- Series C
- Amount Raised: $72M
- Date: April 2024
- Lead Investors: Amplo, Fifth Down Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and invest in technology and clinical programs.
Total Amount Raised: $100M
Current Valuation: Not publicly disclosed
Key Investors
- Amplo
- Details: Amplo is a venture capital firm that invests in companies across various stages and sectors. They focus on high-growth potential startups and aim to solve significant global problems.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Robinhood, Andela, Parsley Health.
- Fifth Down Capital
- Details: Fifth Down Capital is a venture capital firm that participated in the Series C funding round for Two Chairs. Specific details about their focus and portfolio are not widely publicized.
- Investment Focus Areas: Early to growth-stage companies, various sectors.
- Notable Investments: Not publicly disclosed.
- Bridge Bank
- Details: Bridge Bank is a commercial bank that provides debt financing to growing companies. They specialize in financial services for startups and growth companies.
- Investment Focus Areas: Financial services, debt financing, growth companies.
- Notable Investments: Not publicly disclosed.
- Maveron
- Details: Maveron is a venture capital firm that led the Series A funding round for Two Chairs. They focus on consumer-centric companies.
- Investment Focus Areas: Consumer products, technology, healthcare.
- Notable Investments: eBay, Allbirds, Imperfect Foods.
- Goldcrest Capital
- Details: Goldcrest Capital is a venture capital firm that led the seed round for Two Chairs. They invest in early-stage companies with high growth potential.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: SpaceX, Lyft, Palantir.
What's Next for Two Chairs?
Two Chairs is poised to capitalize on the growing demand for mental health services, driven by the COVID-19 pandemic. With plans to expand into new states and deepen investments in technology, the company aims to enhance care quality and accessibility. The recent $72 million funding round will support these efforts, allowing Two Chairs to scale its operations and form new partnerships with major health plans.
Future fundraising opportunities are likely as the company continues to demonstrate growth and successful outcomes. However, challenges such as maintaining high-quality care during rapid expansion and navigating regulatory requirements in new markets could pose obstacles. Despite these hurdles, Two Chairs' unique approach and strong investor backing position it well for continued success.
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