Pace, a San Francisco, CA-based modern support network that helps people connect with custom-matched strangers in groups moderated by world-class facilitators, closed a $13m Series A funding round.
The round was led by Pace Capital with participation from Sequoia and BoxGroup, following a previously-unannounced $5m seed round led by Sequoia Capital.
The company intends to use the funds to further build and enhance its platform and accelerate growth of its user base.
Led by Jack Chou, co-founder and CEO, and led by Cat Lee, co-founder and COO, Pace is an emotional health platform designed by tech executives from companies like Affirm, Linkedin and Pinterest and clinical psychologists from Stanford and the National Center for PTSD. On Pace, people join Pace Groups, which are groups of 7 strangers matched together by common life experiences and moderated by experienced group facilitators who meet weekly to support each other through personal growth. Facilitators are accepted through a rigorous evaluation process and all come from experienced backgrounds in coaching or as a mental health provider. The latest version of the app lets members from across the platforms’ hundreds of groups peek in on what other groups are like, sharing session takeaways from facilitators and anonymous profiles of members.
When people sign up for on the platform, they complete a matching interview and fill out written surveys to help match them with the best peer group for their needs. Members are set up in groups of 7 people, who meet once a week for 90-minute sessions within the app via video chat. Group sessions follow custom-designed formats and are led by experienced facilitators, who share takeaways in the app after each session. Group members can also chat with each other between meetings via the app.