Talkspace, a NYC-based in telebehavioral health company, raised $50m in Series D funding.
The round was led by Revolution Growth, with participation from existing investors Norwest Venture Partners, Qumra Capital, Spark Capital and Compound Ventures. In conjunction with the funding, Patrick Conroy of Revolution Growth will join the Talkspace board of directors.
The company intends to use the funds to accelerate the growth of its commercial business,
Founded by Roni Frank and Oren Frank in 2012, Talkspace is a telebehavioral healthcare company. Its signature psychotherapy product connects individual users with a network of over 5,000 licensed therapists through an HIPAA-compliant web and mobile platform. With the platform, users can send their dedicated therapists unlimited text, video, picture and audio messages from anywhere, at anytime.
Therapists engage with clients daily, 5 days a week.
The company also provides psychiatry services, including prescription fulfillment, adolescent therapy and couples counseling.