- Mental health company Two Chairs announced it raised $21 million in Series B funding led by Amplo. Goldcrest and Maveron also joined the round.
Two Chairs, a mental health company, announced it raised $21 million in Series B funding led by Amplo. Goldcrest and Maveron also participated in the round. Including this round of funding, Two Chairs has raised $31 million.
VatorNews pointed out that mental health and wellness companies raised $321 million in the second quarter of this year (a 41% increase from the same quarter a year ago) thus proving the importance of this space. Earlier this year, Two Chairs raised $7 million from Maveron, Goldcrest, and Amplo.
Two Chairs runs its own mental health clinics around the Bay Area and has built a client-therapist matching system for pairing patients with the right therapists depending on their needs. Plus every Two Chairs client has access to a care coordination team that provides concierge support with insurance and billing.
“All three firms have been exceptional partners in helping us to realize our vision, and we’re so excited to deepen our relationship with them. We are more dedicated than ever to rebuilding our nation’s mental health system by innovating at the intersection of healthcare delivery and technology, and providing mental health services that keep the in-person experience at the center,” wrote Two Chairs founder and CEO Alex Katz in a blog post. “In particular, this funding will enable us to do 3 big things: (1) Deepen our investment in technology that powers our system, (2) Accelerate our clinic growth, and (3) Continue building our world-class team.”
So far, Two Chairs has five clinics in the Bay Area including 3 in San Francisco, 1 in Oakland, and 1 in Redwood City. These clinics have helped more than 2,000 clients. And in a few weeks, Two Chairs will be opening a large clinic in San Jose.
Maveron co-founder Dan Levitan sits on the board at Two Chairs. Levitan has credited Two Chairs for “tackling mental health’s most pervasive issues through a fully integrated approach that expertly delivers deeply empathetic, end-to-end care — all through a completely seamless client experience.”