Welcome to On The Mind, a collection of stories, news, and analyses on the startups, investors, and thought leaders in mental health and wellness.
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It’s been a busy couple of months and the mental health investments keep flowing despite (or because of?) the market downturn. Issue No. 18 captures the full list of what I’ve tracked since last time.
Separately, on my forever quest to learn more about how our brains work, I’ve been thinking a lot about the below questions:
Where is memory stored in the brain?
How are memories accessed?
Does the brain have storage or computational limits?
Where do instincts come from?
Why do we have nostalgia?
If you’re an expert, know an expert, or even if you just have some theories, I’d love to hear from you. A friend recently recommended this podcast episode which covers a lot of this - it’s technical but accessible, and above all else it’s pretty mind-blowing.
💰 Recent Investments, Acquisitions, and IPOs
Rundown of recent investment news in mental health and wellness companies.
Amae Health, a startup focused on treating severe mental illness (SMI), announced its launch with funding from Virtue, 8VC, Able Partners, and Bling Capital (Link)
Aumio, a company supporting children’s mental health through playful learning, raised a $3M Seed round (Link)
Bicycle Health, a virtual opioid use disorder treatment provider, raised a $50M Series B led by InterAlpen Partners (Link)
Boulder Care, a virtual substance use treatment company, raised a $36M Series B (Link)
Circles, an Israeli group support platform, raised a $16.5 Series A led by Zeev Ventures (Link)
Concert Health, a company integrating mental healthcare into existing primary care channels, raised $42M in a Series B financing led by Define Ventures (Link)
Eleanor Health, a mental health and addiction care startup, raised a $50M Series C led by General Catalyst (Link)
Eleos Health, an AI-backed behavioral health voice technology, raised a $20M Series A led by F-Prime Capital and Eight Roads Ventures (Link)
Endel, a sound wellness company creating soundscapes for better wellbeing, raised $15M in its Series B (Link)
evolvedMD, a company integrating psychiatric care management into primary care, raised a $5.4M Series A led by Waterline Ventures and Conductive Ventures (Link)
Friendly Apps, a company aiming to create a suite of apps that improve people’s well-being, raised $3M (Link)
Forge Health, a value-based behavioral health company, raised $11M in a round led by HC9 Ventures (Link)
Handspring Health, a provider of mental health services to families and children, raised a $6.2M Seed round co-led by Newark Venture Partners and NextView Ventures (Link)
Heard, a startup handling administrative tasks for behavioral health professionals, raised a $10M Series A led by Footwork VC (Link)
Homecoming, a creator of patient engagement tools for psychedelic therapy, raised a $4M Seed round led by Evolve Ventures and Integrated (Link)
Innerwell, a psychedelic teletherapy platform, announced $3M in Pre-Seed funding led by Greycroft (Link)
Iris Telehealth, a telepsychiatry platform that connects clinicians with health systems, raised a $40M Series B led by Concord Health Partners and Columbia Pacific Advisors (Link)
moka.care, a platform for employee mental health, raised a $16M Series A led by Left Lane Capital (Link)
Monument, a telemeicine platform for alcohol use disorder, has agreed to acquire Tempest, a digital alcohol recovery program (Link)
MycoMedica Life Sciences, a company focused on developing and delivering fungi-based therapeutic drugs to prevent and treat psychiatric and neurological disorders, raised $60M in funding led by Obvious Ventures, True Ventures, and Kittyhawk Ventures (Link)
Nudj Health, a telehealth service that provides behavioral health interventions, closed a $10M Series A (Link)
Nue Life Health, a telemedicine startup focused on at-home ketamine, raised a $23M Series A led by Obvious Ventures (Link)
O7 Therapy, an Egypt-based digital therapy tool for Arabic-speaking users, raised $2.1M in a round led by Hikma Ventures (Link)
Ordinary Folk, a Singapore-based telehealth startup with a service line for mental wellness, raised $5M in pre-Series A funding from Monk’s Hill Ventures (Link)
Osmind, a public benefit corporation helping clinicians and researchers advance mental health treatments, raised a $40M Series B led by DFJ Growth (Link)
Oura, the smart ring wearable, raised a “meaningful” amount of capital at a $2.5B valuation (Link)
OURS, a startup focused on relationship therapy, raised a $5M Seed round (Link)
OYE, a bilingual interactive wellness app, raised a $3.5M Pre-Seed round (Link)
Parallel Learning, a remote special education assessment and tutoring app, raised a $20M round (Link)
Polygon, a startup that offers virtual evaluations for learning differences like ADHD and dyslexia, raised a $3.6M Seed round led by Spark Capital (Link)
Real, a mental health app, raised a $37M Series B led by Owl Ventures (Link)
Remedy Place, a wellness social club, raised a $5M funding round from its own membership base (Link)
SpectrumAi, a digital autism healthcare company, raised $9M in Seed funding co-led by F-Prime Capital and Frist Cressey Ventures (Link)
TRIPP, a mindfulness AR/VR platform, announced an $11.2M Series A extension led by BITKRAFT (Link)
Wisq, a platform designed for social connection needs of employees, raised a $20M Series A led by Norwest Venture Partners (Link)
On Your Mind
Email me at dt@vine.vc with any reactions to the newsletter.
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Written by Daniel Tarockoff, a partner at Vine Ventures exploring the future of mental health. Born in Michigan. Based in San Francisco, CA.