By JESSICA DaMASSA, WTF HEALTH
SonderMind closes a $150M Sequence C funding spherical co-led by Drive Capital and Premji Make investments, and we get CEO Mark Frank’s tackle what units THIS digital psychological well being startup other than a pack of very well-funded rivals. SonderMind has its personal behavioral well being therapists, constructed its personal tech stack, delivers care just about AND in-person, is roofed by a few of the largest well being plans within the nation — Aetna, Anthem, Brilliant Well being, Cigna, Kaiser, Optum, and United Healthcare. (They will additionally namedrop health-tech-infamous Board member, Jonathan Bush, in an interview, however that’s irrelevant!)
What’s most exceptional – and what Mark says most impressed buyers this time round – is just not solely the well being of SonderMind’s enterprise mannequin, but additionally its steadiness sheet. This increase marks the majority of the whole $183M the startup has raised to-date, and Mark reveals that they’ve solely deployed about half of the $27M Sequence B funding they obtained in April 2020 in a spherical led by Common Catalyst. How will such a “capital environment friendly” enterprise start to deploy these new funds? We hear Mark’s plans for nationwide growth and enhancements to that tech stack, significantly relating to higher matching therapists and sufferers primarily based on experience and want, and extra appropriately measuring course of and outcomes. Two areas ripe for extra tech integration because the psychological well being supplier tackles what Mark calls THE defining well being challenge of our technology.