Mental health app Real raised $37M in a Series B round led by Owl Ventures, bringing its total funding to $53M since its start in 2019.
The digital platform seeks to establish deeper connections as the mental health crisis—and a number of therapy apps—continue to reach new heights.
Central to Real’s rise, its therapist-created Pathways programs address issues like depression, stress, body dysmorphia, and relationships.
For $13/mo., users receive 1:1 attention from vetted therapists and personalized, actionable exercises such as breathwork, meditation, or journaling.
Doubling down on community and inclusion, Real has invested heavily in members-only group talks and culturally sensitive professionals. Driving retention, members are encouraged to complete emotional check-ins, creating a log of progress and small wins.
Almost exactly one year from raising $10M, staying the course will be Real’s biggest challenge, an issue plaguing all players of the brain game.
Money on the Mind
Real is far from alone in this fight. In 2021, mental health startups across the globe raked in $5.5B, a 139% increase from the year prior.
From oversubscribed rounds to strategic mergers, startups and investors believe tech can provide the support we need.
- Last June, Lyra Health notched a $4.6B valuation in a $200M funding round.
- In August 2021, meditation app Headspace and teletherapy company Ginger merged to form Headspace Health, a newly formed entity valued at $3B.
- In December 2021, mental health startup Cerebral added $300M in Series C funding, valuing the company at $4.8B.
- After acquiring Ripple Health this February, meditation app Calm rebranded as Calm Health, a mental health ecosystem of content, community, and coaching.
Takeaway: As the mental health crisis worsens, a growing number of companies are entering the fold. From telehealth to virtual reality and psychedelics, new treatments are taking shape. But, barriers to care remain, creating hurdles for patients and startups alike.