SonderMind Inc, a digital network of therapists, has secured $2.5 million in funding. Kickstart Seed Fund led the round with participation from Purple Arch Ventures, SpringTime Ventures, Service Provider Capital and Lanoha Ventures.
DENVER, Colo., May 30, 2018 – SonderMind Inc., a digital network of behavioral health providers increasing access to behavioral care, announces today $2.5 million in funding, led by Kickstart Seed Fund, with investment from Purple Arch Ventures, SpringTime Ventures, Service Provider Capital and Lanoha Ventures.
SonderMind provides high-quality behavioral health care to consumers by offering a proprietary matching technology to find the right therapist for their needs. Additionally, the platform ensures consumers are connected only with a provider that is in-network through partnerships with all major commercial insurance plans.
SonderMind uniquely addresses both sides of the problem in behavioral health: patient access and therapist burn-out. Mark Frank, CEO and a serial healthcare entrepreneur, had a front-row seat to the struggles of therapists, via multiple family members who are behavioral health providers. Sean Boyd, co-founder and a clinician himself, saw the opportunity to address the issues that keep mental health professionals from doing the work they love, which is helping people improve their well-being.
With this injection of growth capital, SonderMind will continue to break down the bureaucratic barriers that prevent individuals from quickly accessing quality behavioral health services by expanding partnerships with large primary care organizations, health systems and self-insured employers. SonderMind has already partnered with a 350-physician accountable care organization who sought to access SonderMind’s 65+ network providers and extended reach of 300+ behavioral health providers on it’s software platform.
“The stigma around receiving mental healthcare and the lack of understanding of its impact on long-term healthcare costs are the big picture challenges we’re looking to overcome,” said CEO Mark Frank. “What has to happen for the state of mental health in our country to change is that access must be seamless and patients must be able to utilize their insurance benefits to receive this valuable care. Furthermore, primary care physicians often are the first line of defense, so they must be able to easily refer their patient to the RIGHT behavioral health provider, as well as engage in clinical dialogue with that provider. Our platform allows for all of these things, and this investment is validation that our solution can continue to make headway on our nation’s mental health crisis.”
Curt Roberts, partner at Kickstart Seed Fund, who will be joining the board of director, said, “SonderMind is tacking a critical problem – intelligent and frictionless access to behavioral health therapists in a truly novel way. We’re super proud to be backing Mark and his team in addressing this urgent need.”
SonderMind plans to further develop the technology solution to improve care and efficacy, and continue building a world-class team to address our nation’s behavioral health challenges.
For more information about SonderMind, visit www.sondermind.com
SonderMind is behavioral health technology platform, benefitting both patients of behavioral health services and the providers that treat them. The national, digitally-integrated network of behavioral health providers, combined with a variety of software offerings, generates the data and capabilities needed to serve the consumers, employers and health systems looking to access high-quality behavioral health care. On the patient platform, proprietary matching technology, coupled with direct contracts with most major insurance plans, means SonderMind easily meets any patient’s needs. For more information, visit www.sondermind.com.