Investors continue to pour money into tech-driven behavioral health startups. Aptihealth closed in on a $50 million series B funding round to ramp up investment in clinical science, technology and services.
The financing was backed by Takeda Digital Ventures, Pivotal Life Sciences, Vista Credit Partners, Olive Tree Ventures, Claritas Capital and What If Ventures.
It's the company's largest funding round to date and brings the total amount raised to $65 million. In four years, Aptihealth has grown significantly, employing more than 120 and signing 27 health plans, health systems and physician practice customers.
Launched in 2018, AptiHealth provides health plan and health system customers with integrated workflow and care management capabilities to help streamline patient referral and engagement. The startup partners with medical providers who can refer patients to psychotherapists through the startup’s online platform, which allows the providers—primary care, therapist, prescriber and care manager—to more easily integrate physical and mental health care.
The company said it’s in the process of expanding in Boston and moving its headquarters there.
"There's an urgent need to better address higher acuity behavioral health conditions that affect tens of millions of people each year," said Aptihealth CEO Dan Pickett in a statement.
"With the patient at the center, we are redesigning care by empowering comprehensive care teams with unprecedented data, insights and digital tools to improve efficacy and efficiency. This drives Aptihealth's ability to attract the most talented providers, who in turn are achieving the highest levels of patient satisfaction, clinical quality and outcomes. The result is increased access, better care and lower costs. We are thrilled to partner with our customers and this exceptional group of investors to transform behavioral healthcare," Pickett said.
The Aptihealth platform enables seamless access for patients at any point of care, including referrals from physician visits, discharge from the emergency department or inpatient units, mobile web self sign-up and proactive engagement in rising risk situations, according to the company.
"Takeda Digital Ventures' investment in Aptihealth advances our mission to partner with companies that offer life-changing care through cutting edge innovation," said Bruce Meadows, managing partner at Takeda Digital Ventures, in a statement.
Meadows said Aptihealth is positioned to become the leader in higher acuity behavioral health care.
"Aptihealth's virtual first care model does just that—providing precise, personalized care that substantially improves clinical quality and outcomes while increasing value for payers," Meadows said.