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Unlocking access to mental healthcare

As a consumer, getting the help you need to overcome stress, anxiety, depression, and bipolar disorder is easier than ever before. You can find online therapists using BetterHelp, get depression medicines delivered through Ro Mind, video chat with psychiatrists using Talkiatry, or find peer support via Togetherall.

New startups are tackling mental health issues through (1) unbundling of healthcare, (2) unlocking accessibility and affordability, (3) building an integrated mental healthcare ecosystem, and (4) enterprisation of consumer services.

We’ll examine consumer-facing mental health platforms — and reveal exciting opportunities to monetize and win in this space.

🧠 8 mental health market trends

(1) VC funding in the mental health space is exploding:

• Globally, mental health startups raised $6.9 billion across 350 deals in 2021, up 3x from 2020 ($2.3 billion funding & 258 deals).
• 2021 funding by regions: U.S. mental health startups raised $4.5 billion; European startups raised $651 million; Asian startups raised $289 million.

(2) Mental health startups are scoring mega-rounds (above $100M) in 2021:

• BetterUp in online therapy, raised $300 million Series E.
• Cerebral in telemental health, raised $300 million via SoftBank.
• Elemy in autism care, raised $219 million via SoftBank.
• Workit Health in addiction treatment, raised $118 million Series C.

(3) Alternative treatment for depression and anxiety:

• New players are entering the space by using non-traditional medication to treat mental health conditions.
• Mindbloom treats anxiety, stress, and depression with science-backed psychedelic medicine and therapy.
• Field Trip Health offers ketamine-assisted psychotherapy programs to improve anxiety and depression symptoms.
• Deja & Peak + Valley offers natural, ayurvedic, adaptogenic herbs and mushrooms to reduce stress, boost focus and promote calmness.