Written by Hafsa Saleemi,
4 Minute Read
Brightside Health is delivering high-quality care for anxiety, depression, and a range of other mental health conditions from the comfort of home
SAN FRANCISCO–March. 28, 2022– Brightside Health, a telemedicine platform that offers fast access to personalized treatment, expert providers, and ongoing support for a range of mental health concerns, announced today that it raised $50 million in Series B funding to address the unmet need of quality mental health care for all. This round, led by ACME Capital and Mousse Partners, with participation from existing investors Bullpen Capital, Triventures, and Trousdale Ventures, brings Brightside Health’s total funding to date to $75 million.
“The Brightside model of combining data, technology, and clinicians is changing mental health outcomes, with 86% of our members feeling better within the first 12 weeks,” said Brad Kittredge, founder and CEO of Brightside Health. “Our goal is to achieve 100%, with improvement among all members. This new capital will help us grow our team from 57 to an expected 175 employees this year, and further enhance our platform and partnerships to expand access to more individuals. Because we stand behind the quality and accountability of our care model, we are happy to put our dollars behind delivering the best possible outcomes and open up the path to true value-based care in mental health. Together, we can treat depression and anxiety in an approachable, affordable way and positively change lives.”
Brightside Health treats the full spectrum of symptom severity, including people with complex conditions, and offers timely appointments from home, available in as little as 24 hours. With convenient access to treatment through video visits, unlimited messaging, and ongoing support, Brightside Health helps people feel better faster, and stay that way longer. The platform adheres to evidence-based approaches, guided by a world-class network of psychiatric providers and licensed therapists who utilize innovative support tools and follow structured, clinically-proven protocols to deliver effective care at scale. Members track progress through online check-ins that are also monitored by providers, ensuring the efficacy of personalized treatment plans and enabling rapid intervention should a need arise.
After an intake assessment, Brightside Health leverages a proprietary machine-learning algorithm to evaluate more than 100 data points about an individual to efficiently assist providers in tailoring treatment to each person—enabling the company to deliver effective personalized care and industry-leading results. In a recent study, Brightside Health delivered over 50% higher treatment response and remission rates than a leading U.S. health system. Currently, 86% of Brightside Health’s patients experience clinically significant improvement, and 71% achieve remission levels, within their first 12 weeks of treatment.
“From day one, Brightside Health has been committed to delivering superior clinical outcomes and the safest possible care. That came across clearly even from the earliest conversations we had three years ago. This north star has wisely guided the team to develop a truly scalable precision medicine platform that has resulted in go-to-market partnerships with clinically-discerning national payers, opening up access to superior mental health care for over 30 million insurance members nationwide,” said Aike Ho, lead investor at ACME Capital. “We at ACME are proud to be part of the Brightside Health journey as the company advances the landscape around mental health from access to sustainable, quality clinical outcomes. That the company wants to underwrite population risks says it all.”
“As a long-term investor, we look for opportunities to partner with ambitious founders and management teams committed to transforming industries. We are thrilled to be supporting Brightside Health’s mission of increasing access to high quality, personalized, and clinically-proven mental health care,” said Paul Yun, Co-Head of Private Equity Directs at Mousse Partners.
About Brightside Health
Brightside Health is a telemedicine platform focused on developing and delivering a new standard of mental health care. By pairing empathy and expertise with innovative technology, Brightside Health provides a personalized treatment experience for every member through video visits, unlimited messaging, and ongoing support. With a care model encompassing precision-psychiatry, a clinically-proven approach to therapy, and continuous care monitoring from a network of world-class providers, Brightside Health members feel better faster and stay that way longer. For more information on Brightside Health, visit www.brightside.com.
About ACME Capital
ACME is a San Francisco based early-stage venture capital firm investing in breakthrough enabling technologies and business model innovations disrupting massive sectors. We partner with entrepreneurs around the world who work with significant technologies making a positive impact for the consumers of the future. For more information, go to: https://www.acme.vc
About Mousse Partners
Established in 1991, Mousse Partners is a private investment firm that manages a diversified portfolio of assets and invests in private and publicly-traded companies, as well as through third-party advised investment funds. Mousse Partners is based in New York City with offices in Beijing and Hong Kong.