- Denver-based mental health company SonderMind announced it raised $27 million in Series B funding led by General Catalyst
Denver-based mental health company SonderMind announced it raised $27 million in Series B funding led by General Catalyst and included new investor F-Prime Capital and participation from existing investors Kickstart Seed Fund, Diōko Ventures, and Jonathan Bush.
SonderMind — which currently operates the largest integrated network of community behavioral health professionals in Colorado and expanding business in Texas and Arizona — is planning to use the funding to accelerate the company’s entry into new markets and deepen and broaden its enterprise partnerships with payors, employers and health systems. Plus the funding will be used for further building out the technology platform that drives its SonderMind Solution.
The behavioral health industry is continuing to be challenged by long-wait times and access issues. And SonderMind is taking aim at these core challenges within the mental health system by providing a marketplace that enables consistent access to care and streamlined communication between therapist and patient.
The SonderMind Solution matches clients who are a clinical fit, payments, telehealth, a full technology suite, clinical assessments, and a supportive team of behavioral health experts. And for people seeking mental health support, the SonderMind Solution offers connection to a licensed behavioral health professional when they need it most. Plus the SonderMind team ensures that a client is quickly matched to a high-quality and vetted therapist who fits the needs around clinical focus, insurance acceptance, convenience, etc.
Along with the funding round — SonderMind added Eric Roza, former CEO of Datalogix and current General Catalyst Executive in Residence and Kent Thiry, former CEO of DaVita and current Executive Chairman — to its board of directors.
Key Quotes:
“This financing provides the fuel to support our growth objectives and advance our mission to make behavioral health more accessible, approachable and utilized by building a modern marketplace that holds great appeal to both clinician and patient. We are thrilled by this new partnership with General Catalyst given a shared belief in how important the issue of mental health is for our country and General Catalyst’s proven expertise in advising and lending connectivity to breakthrough companies across industries and within healthcare.”
“As SonderMind continues to grow, we are committed to adding established industry leaders to our board. With Eric Roza’s success in building Datalogix into what would become Oracle Data Cloud and Kent Thiry’s enduring leadership at DaVita, one of the nation’s foremost healthcare companies, we are confident that the support and counsel they bring will help guide the SonderMind through its next stage.”
-SonderMind co-founder and CEO Mark Frank
“The need for mental health support has never been more acute yet frustrations abound for individuals unable to access care. Mark and the SonderMind team have thoughtfully developed a platform that is equally beneficial to both clinician and patient. SonderMind changes the game by taking the friction and stigma out of finding the right therapist, all while maximizing insurance coverage and measuring the outcomes of care.”
-Holly Maloney, managing director at General Catalyst
