Pediatric behavioral health provider InStride Health has raised $30 million in Series B funding.
General Catalyst led the round, with participation from .406 Ventures, Valtruis, Mass General Brigham Ventures, and Hopelab Foundation. This new round of funding brings the company’s total raised to $56 million, and comes about a year and a half after the company closed a $26 million Series A funding round.
The company plans to use the new capital to expand into new markets and invest in clinical quality.
“We believe that InStride is at the forefront of helping to democratize accessible, high-quality behavioral health care through its unique clinical model and innovative approach to care delivery, and we look forward to its growth. We look forward to assisting,” said General Catalyst Partner Candace Richardson. said in a statement.
InStride virtually treats children and teens with anxiety and obsessive-compulsive disorder (OCD). That care team includes a psychiatrist, therapist, and exposure coach. Patients have access to a customized care plan, including one-on-one treatment, group therapy, coaching, medication management, and more.
Anxiety disorders are common in children and teens. According to the CDC, approximately 9.4% of children between the ages of 3 and 17 suffer from anxiety.
“We have a mission to help children, teens, and young adults with anxiety and obsessive-compulsive disorders. We are expanding our specialized clinical services and providing the same care we want for our loved ones. “We aim to provide access to and access to the world’s most advanced patients,” John Foyt, co-founder and CEO of Instride Health, said in a statement. “Thanks to the dedication of our incredible team, partners and investors, we are excited to continue expanding the ecosystem of support for the children and families we serve. ”
The company accepts most major insurance plans in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island. We’ll soon be covering Maine as well.
Instride previously announced a healthcare partnership with Massachusetts General Brigham’s McLean Hospital, a Massachusetts-based psychiatric hospital.
InStride isn’t the only behavioral health startup aiming to solve the childhood mental health crisis. Blackbird Health, a hybrid mental health provider, cares for children and youth, ages 2 to 26, with anxiety, depression, ADHD, language differences, and other behavioral health concerns. It recently secured $17 million in Series A funding.
Additionally, virtual behavioral health care company Fort Health is working with pediatricians on collaborative care. Fort Health raised nearly $9 million in 2023, bringing total funding to $10.5 million.
