CONGRATULATIONS to to Lucia, Jimmy & the Osmind team for their $40M Series B, led by DFJ Growth — our fifth portfolio company to receive a growth round from our alma mater this year.
Welcome to a better future for mental health!
The round also includes new investors Susa Ventures, Lachy Groom, Brent Saunders (former CEO of Allergan and Osmind board member), Helena Goodman and Ariel Katz (CEO of H1 Insights).
FastCompany reports: “The timing for the inflow of new money couldn’t be more pressing. Last month, the World Health Organization (WHO) announced that rates of anxiety and depression increased by 25% during the first year of the pandemic. Making matters worse, demand for therapy has rapidly outpaced the supply of skilled providers, leaving many patients facing long wait times. Teenagers have been especially hard hit, and the Surgeon General has called the mental health challenges facing young people ‘unprecedented’ and ‘devastating.’
‘Everyone knows that mental health care is a huge problem in this country right now, but that’s especially the case for the 15 million Americans who have tried and failed multiple lines of therapy and treatment,’ says CEO Lucia Huang. ‘Our platform is really focused on helping the healthcare providers who take care of them, and also generate new evidence for future research and future treatments.’”
• Osmind Announcement
• PBC: www.osmind.org
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