Amae Health, a company that is delivering patient-centered care for people with severe mental illness, announced the successful closing of its oversubscribed $15 million Series A funding round. This funding round was led by Quiet Capital and included a significant investment from Healthier Capital (founded by Amir Dan Rubin, the former CEO of One Medical). Other investors in the round included Baszucki Group, Index Ventures Managing Partner Mike Volpi, and all of the original seed investors: Bling Capital, 8VC, Virtue, and Able Partners. Amae Health will use the new round of funding to drive its goal of transforming care for severe mental illness (SMI) through its psychiatry-led model.
Severe mental illness is a mental, behavioral, or emotional disorder, leading to serious functional impairment – which interferes with or limits one or more major life activities. There are over 14 million adults aged 18 or older in the United States with SMI, and the annual deaths by suicide and drug overdose in the US have increased 322% since 2001.
Amae Health is a value-based care provider specializing in severe mental illness, offering integrated long-term care and delivering transformative change in the lives of those with SMI. And the company’s commitment to innovation has significantly improved patient care and outcomes, demonstrated by a rapidly expanding customer base and strategic partnerships with leading healthcare providers and insurers.
Amae Health’s inaugural clinic in LA demonstrates has significantly outperformed the general standard of care across several key metrics, including a notable reduction of 30-day emergency room readmissions, and over 85% medication adherence compared to an industry average of 53%. And Amae Health has an 80% retention rate, showcasing the effectiveness of patient engagement and treatment adherence. Amae Health’s care model includes a phased approach to care, tailored to each patient’s needs, building a lifelong partnership with patients to manage their condition.
Amae Health will also work on several research collaborations to advance the knowledge of treatment for severe mental illness, including an upcoming study with UCLA and Apple on Digital Sensing for SMI Patients. And Amae Health is also working on a ketogenic study for the SMI population in collaboration with the Baszucki Group to further explore the benefits of metabolic psychiatry. Plus, Amae Health also announced that they will leverage Palantir to develop a precision medicine platform to advance the field of psychiatry as a whole.
Amae Health is also deeply personal for its co-founders, Stas Sokolin (co-founder and CEO) and Sonia Garcia (co-founder and Chief Product Officer). Garcia lost her father to suicide when she was 16 and served as a caregiver for her brother, who battles with schizoaffective and bipolar disorder. Both Stas’ father and sister also battle with bipolar disorder.
KEY QUOTES:
“Amae Health is working to change the paradigm of care for people who have severe mental illness. Our psychiatry-led approach recognizes the unique needs of our patients and provides personalized treatment across behavioral medicine, primary care, and social health to help our patients and families stabilize, prosper, and prevent future adverse events.”
“The successful closing of our Series A is a major milestone and vote of confidence from the investment and health care communities. We are poised for significant growth and development of our data platform to improve patient outcomes and serve as a leading model for tailored integrated care.”
- Sonia Garcia, co-founder and Chief Product Officer
“Severe mental illness is a chronic condition requiring lifelong, adaptive care. By focusing on the individual as a whole person and addressing their long-term needs, we create lasting change for our members. As a long-term care provider, we have built the infrastructure to be a research organization, driving the field of psychiatry forward. In the coming months, we will be launching several groundbreaking research trials to further advance the understanding and treatment of SMI.”
- Stas Sokolin, co-founder and CEO
“Amae Health has developed a solution for SMI that improves patient outcomes and experience and significantly reduces costs for payers and hospital systems. Amae’s first clinic has shown incredible results and we’re excited for the potential to scale to hundreds of thousands of patients. We are incredibly proud to have led the company’s Series A and support this meaningful mission.”
- David Greenbaum, Partner at Quiet Capital
“Even as severe mental illness challenges our society, we lack modernized approaches to coordinated care – Amae Health delivers such a model with breakthrough performance in outcomes. I am thrilled to be part of this extraordinary team at this critical moment to make a transformational impact in the treatment of severe mental illness.”
- Amir Dan Rubin, CEO and Managing Partner at Healthier Capital
