- Ginger, a leader in on-demand behavioral health, announced it raised $35 million in Series C
Ginger — a leader in on-demand behavioral health — announced it raised $35 million in Series C funding led by WP Global Partners. City Light Capital, Nimble Ventures, LinkedIn CEO Jeff Weiner as well as existing investors Khosla Ventures, Kaiser Permanente Ventures, and Kapor Capital also joined the round.
Including this funding round, Ginger has raised $63 million total. And with this round of funding, the company is going to accelerate its investments in data science and clinical services.
In the next couple years, Ginger is planning to bring its unique care delivery model to more people around the world including members of health plans and other risk-bearing organizations.
Ginger’s on-demand and collaborative model scales to meet the need for more mental health providers by bringing text-based behavioral health coaching, video therapy, and video psychiatry under one virtual roof. And the insights generated by Ginger’s artificial intelligence technology enables the company to deliver the right level of care to members when they need it.
“As the global mental health crisis intensifies and access challenges increase, employers are searching for solutions to address the shortage of affordable, available providers,” said Ginger CEO Russell Glass. “In building the world’s first virtual behavioral health system, we are reinventing the approach with instant access to care. This latest round of funding accelerates our ability to expand high-quality care—any time of day or night—to millions of people around the world.”
Ginger members can access care through the Ginger app that are available on Android and iOS where they can text instantly, in real-time with a trained behavioral health coach 24/7, 365 days a year. Members who need additional support, video therapy, and psychiatry sessions can be easily and quickly scheduled in-app. And over 70% of members surveyed using Ginger reported a significant reduction in symptoms of depression within 12 weeks—twice as effective as the leading collaborative care study.
“We have significant experience investing in healthcare and believe that technology is the key to solving the global mental health crisis,” added WP Global Partners Chairman and CEO Donald Phillips. “As we looked to expand our portfolio, it became clear to us that there is no other company in the world that provides emotional and mental health support as quickly and effectively as Ginger does.”
Ginger is currently offered as an employer-sponsored benefit to more than 200,000 employees around the world with that number on track to more than double by the end of 2019. And Ginger’s clients range from small privately-owned companies to Fortune 100 employers.
The company has generated significant momentum within key industry verticals such as professional services, technology, and media and entertainment. And Ginger has also expanded its international presence where the global economic costs of mental disorders are estimated to be approximately $2.5 trillion.
Ginger is now delivering its coaching services in 19 countries around the world including Canada, the UK, Japan, Australia, and India. About 25% of Ginger’s clients — including BuzzFeed and Pinterest — have deployed Ginger’s coaching services to employees based outside of the U.S. And 15% of Ginger members are located outside of the U.S.