NEW YORK, Nov. 4, 2021 /PRNewswire/ -- Valera Health announced today the closing of an oversubscribed $15M funding round led by Windham Venture Partners with participation from new investors Aquiline Technology Growth, MultiCare Health System, Divergent Investments, Watershed, GreyMatter Capital and Gaingels. Existing investors including AXA Venture Partners, Figure Eight Investments, Alsora Capital, Startup Health and Dr. Tom Insel, former Director of National Institute of Mental Health, also participated. This financing follows Valera's expansion from a technology platform company to a fully integrated, tech-enabled, clinical services platform in the summer of 2020.
Valera Health provides tech-driven virtual mental health services to patients with high acuity conditions, including serious mental illness (SMI) and severe depression. The company offers personalized services to everyone in need of mental health care, including those in rural and urban communities, BIPOC and LGBTQ+ communities with culturally intentional care and a diverse, multilingual provider network. Valera's emphasis on measurement-based care and evidence-based treatments delivers improved quality scores for health plans. Over the past twelve months, Valera has partnered with health plans and provider groups that cover over 12 million lives and will be expanding to multiple states in the coming months.
With a team-based care model that includes licensed therapists, nurse practitioners, case managers, and psychiatrists, Valera Health breaks down barriers of accessibility and prioritizes patients' mental health by concentrating on outcomes and utilizing value-based models. "The pandemic exacerbated the mental health challenges we are facing. With declining stigma and greater focus on mental health issues, the demand for good therapists and psychiatrists is at an all-time high and growing rapidly" said Windham General Partner Adam Fine. "Valera Health is making an immediate impact and seeing 30%+ month-over-month growth because the company delivers excellent outcomes and helps patients feel better. We are excited to partner with Tom and his team". "We're honored to have forward-looking partners who recognize the critical need for Valera's services and our commitment to serving patients who have been neglected historically. This financing will fuel our growth as we partner with leading health systems and health plans to make quality mental health care accessible for those with serious and persistent mental illness," said Dr. Thomas Tsang, co-founder and CEO of Valera.
About Valera Health:
Valera Health is a high performing mental health company providing comprehensive longitudinal service using a team-based care model of coaches, therapists and medication prescribers augmented by proprietary digital technology and analytics. From meditation to therapy to medications, patients with mild depression to severe schizophrenia are treated with expert care. A focus on quality has achieved high HEDIS scores and produced significant outcomes. For more information go to: www.valerahealth.com.
Media Contact: Tucker Stevenson, [email protected]
About Windham Venture Partners:
Windham is a NYC-based venture capital firm focused on healthtech. Windham partners with exceptional entrepreneurs and companies that are developing game-changing technologies to serve unmet needs, improve outcomes and help the lives of large numbers of patients. Windham is led by seasoned healthcare industry executives, operators and investors.
SOURCE Valera Health