Ginger, a San Francisco, CA-based on-demand mental health company, raised $100m in Series E financing.
The round, which bring total funding to over $220m, was led by funds managed by Blackstone Growth, which joined existing investors from Kaiser Permanente Ventures, Cigna Ventures, Bessemer Venture Partners, Advance Ventures Partners, Khosla Ventures, Health Velocity Capital, City Light Capital, and WP Global Partners. As part of this funding round, Ginger has added Blackstone’s Ram Jagannath to its Board of Directors.
The company intends to use the funds to continue expanding access to value-based mental healthcare through additional partnerships with multinational employers and health plans, extend its reach to support underserved populations through new government payer relationships and collaborations with non-profit organizations and continue the acquisition of innovative technologies and clinical services to improve and scale its on-demand mental health system.
Led by Russell Glass, CEO, and Jesse Silver, Chief Product Officer, Ginger is an app that provides members with access to unlimited self-guided care and 24/7 on-demand coaching, as well as video-based therapy and psychiatry support. Over 10 million people in over 40 countries around the world have access to Ginger through employers, health plans, and partners. Today, over 500 employers ranging from startups to Fortune 100s, including ViacomCBS, Delta Air Lines, Domino’s, SurveyMonkey, Axon, 10x Genomics, and Sephora, partner with Ginger to provide employees with mental healthcare. The company also works with strategic partners like Accolade and Capsule, and 30 integrated health systems and health plans.