Mental Health Marketplace Company Legion Health Raises $2 Million

By Annie Baker ● Mar 17, 2022
  • Legion Health recently announced it raised a $2 million seed capital raise. These are the details.

Health care technology company Legion Health recently announced its $2 million seed capital raise. And the capital will support the company’s mission in creating the world’s first B2B mental health marketplace.

The key strategic angel investors include Erica Johnson, Co-Founder of Modern Health; Ravi Shah, MD, MBA, Chief Innovation Officer of Columbia Psychiatry; Jeffrey Leerink, CEO of SVB Leerink; and Jay Desai, former CEO and Founder of PatientPing (acquired by Bamboo Health). And the other investors include Bay Area-based technology accelerator Y Combinator, UpHonest Capital, and Soma Capital.

Currently, Legion Health’s platform has more than 800 mental health professionals in all 50 states. And the company is rapidly evolving and serving its many clients, which are mostly tech-enabled health care organizations.

The company’s three founders — which also include Arthur MacWaters, Legion Health’s President — were roommates and best friends at Princeton University. And each founder is personally passionate about mental health, and, before founding the company, MacWaters, Wilson, and Patel worked at McKinsey, Microsoft, and the Congressional Budget Office, respectively.

KEY QUOTES:

“Legion Health’s goal is to solve one of the hardest problems in health care today—the growing deficit of mental health professionals. With funding from our incredible investors, we’re building the infrastructure that enables clinicians and organizations to provide high-quality mental health services to all.”

— Yash Patel, Legion Health’s Co-Founder and CEO

“We’re not just a smarter staffing company. We’re using technology to solve a hard logistics problem. By building a marketplace to deliver clinicians’ time, health care organizations can better scale their mental health offerings to service their ever-growing patient demand.”

— Daniel Wilson, Legion Health’s Co-Founder and COO

“With so much clinical innovation in the behavioral health space, often missing are the high-quality health care professionals to deliver that innovative care. Legion Health is solving that piece.”

— Madhukar Trivedi, Legion Health’s Clinical Advisor and the Betty Jo Hay Distinguished Chair in Mental Health at UT Southwestern