Tele-Behavioral Health Service Valera Health Closes $3.8 Million

By Amit Chowdhry ● Feb 15, 2021
  • Valera Health — a tele-behavioral health service that provides personalized team-based clinical care — announced it has closed a $3.8 million round led by AXA Venture Partners

Valera Health — a tele-behavioral health service that provides personalized team-based clinical care — announced it has closed a $3.8 million round led by AXA Venture Partners (AVP) with participation from Windham Ventures, Figure Eight Investments, and notable mental health expert Tom Insel, MD (former Director of the National Institute of Mental Health).

Existing investors TWC and James Nahirny also participated in the round. The new round of funding brings the company’s total funding to $9 million. Manish Agarwal, General Partner at AVP, will be joining Valera’s board.

Valera Health is known as being a high performing tele-mental health company providing longitudinal service using a team-based care model of coaches, therapists, and medication prescribers augmented by proprietary digital technology. Using meditation, therapy, and medications, patients with mild depression to severe schizophrenia are treated with expert care. And a focus on quality has achieved high HEDIS scores and produced significant outcomes.

The new funding round will be used for strategic market expansion and support the growth of existing services. And this year has led to a dramatic increase in the need for mental health support and care. Valera is leading the market in bringing appropriate and accessible behavioral healthcare.

KEY QUOTES:

“2020 has impacted everyone from all walks of life. The need for high-quality longitudinal mental health services is significant and Valera is positioned to help patients with anxiety and depression, as well as severe conditions like schizophrenia and bipolar disorder. With this funding, we can scale to multiple markets and bring our unique team-based approach to communities in need. We’re excited about our new partners who are global leaders in scaling businesses.”

— Thomas Tsang, MD, CEO and co-founder

Individuals seeking care through Valera are matched with an appropriate provider following an initial consultation with a behavioral health specialist. Valera’s care team includes licensed social workers and mental health counselors, nurse practitioners, and psychiatrists. “Low supply of behavioral health specialists limits access to mental health and puts patients at risk when they do not receive early intervention. Valera’s personalized and preventive behavioral health solutions use the power of technology to mitigate this pain point. We are excited to be a part of Valera’s stellar team and continue on this journey.”

— Manish Agarwal, General Partner at AVP

“Now more than ever we need innovation in mental health care. Valera brings a unique combination of software and clinical expertise to provide high quality services to patients in need. The company is growing quickly and shows huge promise for 2021. I am excited to be on this journey with Valera.”

— Tom Insel