NEW YORK, July 28, 2021 /PRNewswire/ -- Talkiatry, a leading provider of accessible in-network psychiatric care, today announced it raised $20 million as a completion of its Series A funding. The round includes an additional $15 million, led by Left Lane Capital with further participation from Dr. Richard Park, founder and former CEO of CityMD. In February 2021, Talkiatry kicked off its Series A round after raising $5 million led by Sikwoo Capital Partners with participation from Relevance Ventures and Dr. Park.
This latest round will enable Talkiatry to further develop its proprietary technology and expand operations into additional states in the Northeast as well as the Mid-Atlantic and South regions in 2022.
Founded in 2020, Talkiatry is increasing the accessibility of high quality and responsible psychiatric care throughout the United States. With tailored support solutions and proprietary technology, Talkiatry's team of psychiatrists are enabled to achieve insights into their patient populations that were previously unattainable. From pre-diagnosing patients to tracking their progress over time, Talkiatry's insights and high quality care reduces the overall healthcare costs for their insurance partners and in turn, patients and employers.
"Talkiatry is built by psychiatrists, for psychiatrists and we are uniquely situated to understand and address the access, cost and quality issues plaguing outpatient behavioral healthcare," said Robert Krayn, Co-Founder and CEO of Talkiatry. "With the completion of our Series A, we will expand our offering to states with a desperate need for responsible, affordable, and high quality care."
"We've looked at many opportunities across the mental health landscape, and became uniquely excited about Talkiatry given its psychiatrist-first focus. Psychiatrists are the scarcest part of the mental healthcare equation," said Jason Fiedler, Partner at Left Lane Capital. "Robert, Georgia and team are on a mission to increase access to psychiatric care the right way; their commitment to the highest quality clinical standards has resonated with providers and is core to their success."
Talkiatry currently employs over 30 psychiatrists and over 40 total providers and has logged over 30,000 patient visits since its launch. Talkiatry is partnered with all of the nation's leading health insurers, including United Health Care, Aetna, Humana, Cigna, and Blue Cross Blue Shield. With a hybrid model of in-person and virtual care, Talkiatry is increasing access of the highest quality, responsibly.
"There is a major shortage of psychiatrists, both presently and projected, and a lack of tools and support for them to practice more efficiently," said Dr. Georgia Gaveras, Co-Founder and Chief Medical Officer of Talkiatry. "Doctors want to be doctors and Talkiatry is allowing them to do that by bringing creative and innovative solutions to the problems that have historically made it difficult to provide in-network care."
Talkiatry is a leading technology enabled mental health care provider that delivers high-quality psychiatric care via telehealth or in-person. The platform has partnered with every major insurance company in the United States and Medicare to provide in-network care on an outpatient basis and since its launch in April 2020, Talkiatry has provided over 30,000 visits. Talkiatry is headquartered in New York City and employs top psychiatrists and psychiatric nurse practitioners curated among the city's finest healthcare providers. For more information, visit www.talkiatry.com.
About Left Lane Capital
Left Lane Capital is a New York-based venture capital and growth equity firm that invests in high-growth internet & consumer technology companies that build long-lasting customer relationships. For more information, visit www.leftlanecap.com