Modern behavioral health company Two Chairs announced that it has closed a $72 million Series C equity and debt financing round led by Amplo. Fifth Down Capital and other investors also participated. Bridge Bank set up the debt financing.
This funding round brings the total capital raised to $103 million. Two Chairs has grown eight times over the last 36 months, with more than 500 clinicians on staff. This new funding round will expand Two Chairs’ reach, making mental health care more accessible and practical.
Two Chairs focuses on alliances between therapists and their clients, which are considered the most crucial determiner of good mental health outcomes. And the company’s unique matching consult, aided with a proprietary 300-variable algorithm, helps create the right therapist match for the client.
Along with Two Chairs’ leading approach to measurement-based care, it tracks therapeutic progress, providing real-time insight into a client’s well-being, allowing therapists to personalize treatment plans, empower clients, and strengthen the therapeutic connection. And Two Chairs invested deeply in a differentiated full-time clinician experience, believing that quality care is delivered by clinicians who feel supported and satisfied with their work.
Two Chairs has a hybrid care approach with in-person and virtual therapy. It has offices in multiple cities in California, Washington state, and Florida, and it plans to expand into additional states in the next year. With an in-network model, Two Chairs works with Aetna nationally and Kaiser Permanente in Washington and Northern California, enabling its members to get top-quality care for the price of a copay or coinsurance. More healthcare partnerships will be finalized this year.
KEY QUOTES:
“Two Chairs epitomizes quality in behavioral health, taking an extraordinarily thoughtful approach, and you can see it in their outcomes data. Industry-wide, only about a third of patients progress to their fourth therapy session, whereas for Two Chairs, 90% of their patients do. We proudly invest in thriving companies where quality is a core advantage. Two Chairs has been growing quickly—in all the right ways and for all the right reasons.”
– Sheel Tyle, Founder & CEO of Amplo
“At our core, we are committed to ensuring everyone has access to exceptional mental healthcare. This additional funding will enable us to deepen our investments in technology, and accelerate our growth, all in the service of extending our lead in care quality. By matching patients with the right therapists, we are creating better outcomes for both sides.”
– Two Chairs CEO and Founder, Alex Katz
