InStride Health, a pediatric mental health provider, announced Monday that it raised $30 million in Series C funding to expand into new markets.
Boston-based InStride Health provides virtual specialty outpatient care for pediatric anxiety and obsessive-compulsive disorder. Its care is grounded in cognitive behavioral therapy, focusing on exposure therapy, in which patients are gradually exposed to situations they fear. The company works with patients aged seven to 24 and their families, providing them with a care team consisting of a therapist, exposure coach and psychiatrist. The team develops a personalized care plan, and patients can communicate with their care team via text, phone or video.
The Series C round includes support from new investors Echo Health Ventures and FMZ Ventures, as well as existing investors .406 Ventures, Valtruis, General Catalyst and Mass General Brigham Ventures.
“As behavioral health pivots from access to outcomes, we believe high-quality specialty models like InStride are incredibly well-positioned. They’ve built the wraparound care and incentive alignment that consistently delivers durable ROI to payors, and have proven their ability to replicate the model across numerous markets at scale. We are excited to support the company in its next phase of growth,” said Kurt Sheline, partner at Echo Health Ventures, in a statement.
With the funding, InStride Health will expand into new markets while also deepening coverage in existing markets, according to John Voith, co-founder and CEO of InStride. It currently operates in 17 states and has served more than 5,000 patients.
“It will help us add specialty capacity for payors and employers in areas where evidence-based care for complex anxiety, OCD, and related disorders is difficult to access, while helping ensure that geography and insurance status are no longer barriers to care,” Voith said. “Most importantly, it will enable more young people to access high-quality specialty treatment, graduate from care, and thrive.”
Recent outcomes data from InStride Health found that 97% of graduates experienced overall clinical improvements and more than 99% of patients remained out of the hospital one year after discharge. In addition, 81% of caregivers reported a reduction in their own stress, and more than 90% reported a reduction in missed work.
Ultimately, the company aims to expand access to evidence-based specialty care for young people, while also maintaining clinical quality, Voith said.
“As we grow into new and existing markets, we’re focused on ensuring more families can access the high-quality care they need while preserving the strong clinical outcomes that have defined InStride’s approach,” he said.
Other pediatric mental health companies include Brightline and Little Otter.
Photo: Topp_Yimgrimm, Getty Images
