Cash Flow: Booming Telehealth Sector Secures Capital, $30m For Mental Health & Fresh Funding For Biotech Startups

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

TytoCare closes $50m funding round amid spike in demand

TytoCare, a telehealth company enabling live telehealth visits and comprehensive medical examinations, has announced the close of a $50 million funding round. 

The round, led by Insight Partners, Olive Tree Ventures, and Qualcomm Ventures, brings its total funding to more than $105 million and comes at a time when the company says it is experiencing a huge spike in demand, in response to the COVID-19 crisis.

“This new funding comes at a pivotal moment in the evolution of telehealth and will enable us to continue to transform the global healthcare industry with the best virtual care solutions,”  said Dedi Gilad, Co-Founder and CEO of Tyto Care.

SonderMind raíses $27m to expand accessible behavioural health platform

SonderMind, a company dedicated to making behavioural health more accessible, approachable and utilized, has announced the completion of a $27m Series B financing. In addition to the new investment from General Catalyst, the round also included new investor F-Prime Capital and participation from existing investors Kickstart Seed Fund and Diōko Ventures. 

The company, which currently operates the largest integrated network of community behavioural health professionals in the US, intends to use the proceeds to accelerate its entry into new markets and build out the technology platform that drives its SonderMind Solution

Flagship Pioneering Closes $1.1bn round to support biotech startups 

Biotech incubator and holding company Flagship Pioneering has closed a $1.1bn capital raise for its seventh Origination Fund, to support the creation of Human Health and Sustainability companies originated and operating within its Flagship Labs unit. 

“The current COVID-19 crisis deeply underscores the essential need for a comprehensive Health Security initiative to complement our current health care system,” said founder Dr. Noubar Afeyan. Funds will, therefore, be used to create a range of products and therapies to improve societal health defences by treating pre-disease states before they escalate. 

SilverCloud Health scores $30m to tackle mental health

SilverCloud Health, a digital mental health platform for healthcare systems and providers, has completed a $16m Series B funding round led by MemorialCare Innovation Fund, which included LRVHealth, OSF Ventures and UnityPoint Health Ventures. The latest cash injection elevates its total funding to more than $30m. 

SilverCloud’s mental health programs are used globally by more than 300 organizations, including over 70% of the UK’s National Health Service (NHS) mental health services. The fresh funding will enable the company to further expand program offerings in North America, enhance the current global portfolio, and conduct additional research and clinical trials.