Modern Health, a San Francisco, CA-based mental well-being benefits platform for employers, raised $9m in Series A funding.
The round was led by Kleiner Perkins, with participation from Jared Leto, Y Combinator, and Afore. In conjunction with the funding, Kleiner Perkins partner Mamoon Hamid will join Modern Health’s board of directors.
The company will use the new capital to accelerate the development of the product, build its sales organization, and expand its customer base.
Founded in 2017 by Alyson Friedensohn and Erica Johnson, Modern Health provides companies with a suite of products for employees to access the emotional care they need while giving employers the tools to improve worker productivity, retention, and limit costs from over-prescribed in-person therapy.
The company’s product will predict, prevent, and personalize care to meet every employees’ needs. The platform offers customers an onboarding process focused on well-being assessment and triaging individuals to the appropriate care based on their needs and preferences.
Modern Health received $2.4M in seed funding in June 2018, led by Afore with participation from Social Capital, Precursor Ventures, Merus Capital, Maschmeyer Group Ventures, Y Combinator, and angel investors.