Grow Therapy Raises $88M in Series C Funding

Grow Therapy, a NYC-based mental health technology company, raised $88M in Series C funding.

The round was led by Sequoia Capital, with participation from Goldman Sachs Alternatives and PLUS Capital alongside artists and athletes from their collective including Anna Kendrick, Lily Collins, Dak Prescott, Joe Burrow, Jrue Holiday, and Lauren Holiday. Existing investors Transformation Capital, SignalFire and TCV also participated.

The company intends to use the funds to expand operations and its R&D sector.

Led by CEO Jake Cooper, Grow Therapy is a provider-centric mental health technology company improving access to mental healthcare. It provides therapists and prescribers with a suite of business tools and services, peer community, and pipeline of expertly matched patient referrals so that they can set up and grow in-person and virtual private practices, within the communities they care about most. The company offers a network that includes more than 12,000 providers and works with insurers including Humana, Aetna, Cigna, Florida Blue Cross Blue Shield, and UnitedHealthcare.

Commenting on the news, Jake Cooper said: “Our team believes that empowering people to find and engage with effective mental health support – regardless of their background, geography or financial circumstances – is the most pressing need of our time. The two announcements we’ve made today, including the close of our $88 million Series C from Sequoia Capital and Goldman Sachs Alternatives and the launch of our new measurement-informed care system, represent tremendous strides in helping us fulfill that goal. Together with our partners and stakeholders, we are building an environment where people can easily find care they can trust and afford, and where therapists can serve their communities while building sustainable, rewarding careers.”