Tava Health, a healthcare technology startup providing next-day access to professional mental health services today announced that it raised $10M in series A funding. The round of capital was led by Rose Park Advisors with participation from Peterson Partners, Toba Capital, Springtide Capital, Contrary Capital, and SaaS Ventures.
In the wake of COVID-19, mental health concerns have taken a front seat in the minds of employers. According to research by McKinsey & Company, 9 out of 10 companies surveyed noted that COVID-19 had a negative impact on workplace productivity, and 7 out of 10 companies planned to take immediate action to address the situation.
Tava is uniquely positioned to meet this demand. The company provides a platform that employers can leverage to make it easy for their team member to connect with a professional mental health counselor. Employees don’t need to worry about long wait times, expensive cash-pay rates, or insurance coverage. Tava matches employees with the therapist that best meets their needs and facilitates therapy sessions virtually through its seamless, intuitive platform.
“Most people are touched, either directly or indirectly, by mental-health issues,” said Dallen Allred, founder and CEO of Tava Health. “Our mission is to make therapy as normal as going to the dentist. There is no stigma around getting your teeth cleaned, and if employers make accessing a therapist as easy as they have dentists then we think that mainstreaming will do more to eradicate the stigma around mental health treatment than anything else an employer can invest in.”
Tava currently has therapists in every state in the United States using its free platform, and will begin announcing partnerships with insurance networks in 2022, making it even easier for employers to give their employees access to high quality virtual mental health resources.
“Tava Health is disrupting the old model of in-person, clinic-only mental health services,” said Matthew Christensen, CEO and Managing Partner at Rose Park Advisors. “We are thrilled to be working with the Tava team in order to bring these vital tools and services to millions of Americans.”
About Tava Health
Tava Health is a venture-backed, online mental health company that partners with employers to provide convenient, high-quality, accessible mental health resources to employees and their families. Our technology-enabled platform empowers our clients to match with world-class therapists and psychologists without needing to navigate the complexities of the health insurance system.
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