TARA Mind: $8 Million Secured To Expand Access To Mental Health Therapeutics

By Amit Chowdhry ● Jan 24, 2024

TARA Mind (see Pulse 2.0 profile here) – a public benefit corporation focused on creating access to safe and effective ketamine-assisted therapy (KAT) as a covered benefit for employees – announced that the company has raised $8 million, led by Satori Neuro. Additional investors participating in the oversubscribed round were Echo Investment Capital, Crumpton Ventures, Empath Ventures, and Blake Mykoskie (Founder of TOMS).

Launched in 2022 by Marcus Capone, a Veteran Navy SEAL turned Entrepreneur after experiencing the life-changing benefits of psychedelic-assisted therapy, TARA Mind is advancing its mission to provide safe, effective, and affordable access to life-changing mental health therapies through its collaborative care platform and structured real world evidence dataset. And the company has developed a first of its kind mental health collaborative care platform, recognized for being clinician-guided, data-driven and evidence-based, to help the millions of individuals struggling with mental health disorders that have not been clinically responsive to traditional mental health therapies. Many of these individuals represent the highest risk/highest cost segment of the workforce.

Through the TARA Minds collaborative care platform, patients can receive highly effective, personalized, clinician-guided mental health treatments through their employer-funded benefit plans, and self-funded employers who offer TARA Mind’s benefits can expect to realize favorable ROI results within the first year of offering TARA Mind as a supplemental benefit. These favorable results derive from anticipated employer savings from reduced medical costs, reduced absenteeism, and improved workforce productivity.”

KEY QUOTES:

 “As a Navy SEAL, I was fortunate to not face affordability or access challenges to available treatments for my deteriorating mental health. My personal challenge was that the current traditional treatment protocols were simply not helping. I had to independently seek alternative treatments, which ultimately saved my life and family. At TARA Mind, our mission is to offer a solution that eliminates the existing barriers to life changing therapeutics that millions of American families struggling with depression face daily. We are dedicated to paying forward the lessons learned and fostering a culture of support and well-being. Our first mover advantage in the employer benefit space, coupled with our collaborative care platform and structured dataset, provides us with a unique opportunity to play a key role in advancing affordable access to life-changing therapies for millions of individuals struggling with treatment resistant depression.”

– Marcus Capone, CEO of TARA Mind

“We are proud to partner with TARA Mind, not only through our strategic investment, but also through our shared dedication to creating a meaningful impact in the area of mental health. TARA Mind’s mission to expand access to groundbreaking mental health therapeutics aligns closely with our purpose: to create, fund, and inspire businesses that elevate humanity.” Dr. Amy Kruse will be joining the TARA Mind Board of Directors who, together with the Scientific Advisory Board, are collectively dedicated to helping raise the standard of mental healthcare nationwide.”

– Dr. Amy Kruse, Chief Investment Officer for Satori Neuro