GROW THERAPY RAISES $150 MILLION IN SERIES D AS IT SOLIDIFIES NEW FLAGSHIP PARTNERSHIPS

New and Existing Investors Recognize the Company's Current and Future Impact as it Brokers Strategic Deals to Direct More People to Effective Mental Health Care

NEW YORK, March 3, 2026 /PRNewswire/ -- Grow Therapy (Grow), a mental health platform empowering providers to deliver exceptional in-person and online therapy and psychiatric care, today announced it has raised $150 million in Series D financing. This vote of confidence from prominent investors follows Grow's innovation streak and a deepening of its relationships with health plans, employers, and health systems. The round was led by existing backers TCV and Growth Equity at Goldman Sachs Alternatives, with new investors BCI and Menlo Ventures joining Sequoia, SignalFire, and Transformation Capital.

"Grow has built alliances and capabilities that deliver win-win-win results for clients, providers, and all of our other partners with a stake in mental health care," said Jake Cooper, CEO and Co-founder of Grow. "This Series D reflects investor confidence in Grow's ability to execute a high-impact strategy and continue making mental health care more accessible, effective and connected."

"TCV loves backing great entrepreneurs targeting very large market opportunities. We are excited to continue to partner with Grow on the journey to provide access to, and improvement of, quality mental health care," said Jay Hoag, Founding General Partner at TCV.

GROWTH AND IMPACT
Over the past five years, more than two million people nationwide have turned to Grow for therapy and medication management. In 2025 alone, Grow facilitated seven million visits, bringing the lifetime total to 10 million therapy and medication management appointments. Grow reports that nine in 10 clients would strongly recommend Grow to a friend, reflected in an 85 Net Promoter Score (NPS), which is considered excellent on a scale of -100 to 100.

Better Care, Better Results, Broader Access
Since its Series C in April 2024, Grow has continued to build a secure, actionable, and measurable mental health platform for providers, partners, and people receiving care, including:

• Advanced tools for providers: Grow strengthened its scheduling, billing and electronic health record (EHR) software and introduced free, clinically guided AI-assisted notes. Since launch, Grow's data found that provider documentation time has dropped by nearly 70%, while exceeding manual note accuracy.
• Continuous support between visits: Through the Grow mobile app, rated 4.9 stars in the Apple App Store, clients have free access to clinically guided AI tools that support self-reflection between sessions. With a client's consent, relevant insights can be shared with the provider ahead of the next visit to keep time together focused and productive.
• Outcomes measurement: Grow launched systems to gather evidence-based measures that track client outcomes over time. According to Grow's internal data, 80% of clients see measurable symptom improvement within 30 days.
• Expanded insurance coverage: Grow expanded from 75 to 125+ health insurer partners, including Medicare and Medicaid. This broad coverage makes mental health care accessible to 220 million people nationwide using the plans they already have. On average, Grow clients pay $21 per visit, and one in three pay $0.
• Deepened critical partnerships: Grow developed flagship partnerships with major insurers, including Guidewell, and its care navigation partner Lucet, focused on shared goals such as improving clinical outcomes, lowering total cost and delivering a better member experience.

"We're thrilled to back Grow on its mission to deliver breakthrough products and care for mental health. Their technology is grounded in a deep understanding of what people, providers, and business partners need for superior outcomes," said Matt Murphy, Partner at Menlo Ventures. "Grow has consistently exceeded lofty expectations through world-class execution at scale, and we strongly believe they will define and lead the category for years to come."

NEW PARTNERSHIPS EXPAND ENTRY POINTS TO CARE

Workplace Mental Health Benefits

Beginning in 2026, Grow will accelerate work with employers to strengthen workplace mental health benefits. Employer-sponsored mental health programs (often called employee assistance programs, or EAPs) and health-plan coverage don't always connect. As a result, employees may need to switch therapists or pay out of pocket after they've used their EAP sessions. Building on its integrations with health plans, Grow helps companies offer a single, connected experience, so employees can seamlessly transition to using their health insurance and keep the same provider after they've fully utilized their employer program.

These offerings deliver nationwide coverage, fast access to vetted, licensed clinicians, and flexible virtual and in-person care. Grow's clinically guided AI tools extend support between sessions, surface useful information, and help patients improve over time. By working alongside employers and their health plan partners, Grow will remove friction and help employees and their families get effective care without interruption.

Additionally, employers need to balance quality and cost. Grow delivers care that is proven effective while keeping payments aligned with what employees expect from their health plans. And rather than a flat fee for every employee regardless of utilization, Grow only charges for care that's actually delivered, making it easier for employers to invest in mental health with confidence.

Julie Harris, Grow's VP of Enterprise Partnerships, understands these employer dynamics deeply and is leading the effort to bring something better and more cost-effective to market. "What makes Grow's value to employers distinct is our ability to balance competing demands," said Harris. "A mentally healthy workforce is more productive by every measure, but employers also have to contain rising costs. Grow offers a rigorously vetted network that delivers measurable mental health improvements in a model designed to complement, not compete with, existing health plan benefits."

Health Systems
Grow is also extending its platform to health systems, including Circle Medical. Through Grow, medical teams can coordinate referrals, share relevant context, and help set up for a strong first therapy session. Through these coordinated and collaborative efforts, Grow is supporting a clearer path from screening to treatment and reducing friction when follow-up care is needed.

LOOKING AHEAD
Grow plans to continue deepening integrations across all the paths people take to find mental health care and investing in clinically guided technology to deliver better outcomes. As the platform expands across health plans, health systems and employers, Grow aims to ensure people can get the care they need, no matter where their mental health journey starts.

ABOUT GROW
Grow Therapy (Grow) is a mental health platform empowering providers to deliver exceptional in-person and online therapy and psychiatric care. Its rigorously vetted network of 26,000 providers delivers high-quality care covered by insurance, with 220 million Americans able to access Grow through their health plan. Grow Therapy has raised $328 million, and key investors include Sequoia Capital, Goldman Sachs Alternatives, Transformation Capital, TCV, SignalFire, Plus Capital, BCI and Menlo Ventures. More information about Grow Therapy can be found at growtherapy.com. 

Media Contact: Kristina McPherson ([email protected])

SOURCE Grow Therapy