Modern Health has raised another round of funding to support the goal of providing evidence-based mental health care to all. The $74 million Series D funding round was led by esteemed venture capital firm Founders Fund with investment by Lachy Groom. Following a $51 million Series C round in December 2020, the latest raise brings Modern Health’s total funding to more than $170 million and the valuation to $1.17 billion.
“If there is one thing we’ve learned from this past year, it’s that prioritizing employee mental health is critical for all companies – no matter the size,” Alyson Watson, CEO and founder of Modern Health, said. “We should not have to wait until there is a global pandemic to take action.”
Since the previous funding round, Modern Health has doubled its revenue, the company said. Plus, it launched 25 new enterprise customers in January 2021 alone. The startup plans to use the new funding to continue on that trajectory, add new clients and offer a variety of accessible, innovative and customized mental health management options to workforces.
Announcement: Modern Health Raises $74M for Mental Health Platform