The pandemic has taken a heavy toll on the mental health of people of all ages, but especially children and adolescents.
“Depression and Anxiety in Children and Adolescents double in the first year of the pandemic,” said Brightline co-founder and CEO Naomi Allen in an email provided by a representative.
The Palo Alto, California-based company, which provides virtual behavioral health services to children, teens and families across the country, is looking to be part of the solution. announced on tuesday It has raised a $105 million Series C round to help it reach more children and families with mental illness. The round brings the company’s total revenue to date to more than $200 million.
It’s the latest example of how a rise in mental health issues during the pandemic appears to have spurred heavy investment in mental health startups.Demand for virtual behavioral health drives growth of mental health platforms, including frame arrive Rose arrive TheraTalk.
“Brightline will use this investment to expand its services to support diverse populations such as caregivers of young children with autism spectrum disorders and teens who identify as LGBTQ+ and/or BIPOC,” said Allen.
The company also plans to expand partnerships with health plans and employers as demand for family-focused benefits skyrockets, she said. Additionally, Brightline is seeking to use the funding to expand patient programs, support culturally competent care provider training and develop its care teams.
“We are currently recruiting therapists, coaches and other nursing specialists across the country,” Allen said.
The company currently employs about 85 nursing staff, including psychologists, psychiatrists, speech-language pathologists and behavioral coaches. Allen said it now hopes to triple that number by the end of the year.
Global investment firm KKR led the Series C round with existing investors GV (formerly Google Ventures), Optum Ventures, Oak HC/FT, Threshold, 7wireVentures, Children’s Medical Center Inc. (parent company of Boston Children’s Hospital)And the Blue Cross Blue Shield of Massachusetts also participated. KKR director Johnny Kim also joined Brightline’s board, according to the company.
The sheer number of contributors and the amount raised suggest Brightline is certainly not alone in recognizing the need to focus on whole-child and whole-family care.
“The healthcare system needs to better support families throughout the care process — from first engagement with the system to achieving better health outcomes,” Allen said. “As the first nationwide whole-family behavioral health solution purpose-built to care for children, teens and their caregivers, Brightline provides families with any care they may need.”
To bring these benefits to families, the company partners with health plans and employers, including Aetna, Massachusetts Blue Cross Blue Shield, California Blue Shield, Competitive Health, Municipalities, Colleges, School Insurance Group (MCSIG), Sequoia, Stanford University and Xcel Vitality.
The company now serves 50 employers covering more than 24 million health plan lives and plans to reach more than 50 million health plan lives in 2022.
Photo: phototechno, Getty Images
