Behavioral Health Start Up, Octave, Raises $52 Million In Round With Lead Investors Cigna, Novo Holdings & Avidity Partners

Octave, a behavioral health start up that provides hybrid virtual and in-person services, raised $52 million and plans to use the funding to expand from seven states to nationwide in 2024. It also plans to release new technology products for its payer and provider organization partners. The round was led by Cigna Ventures, Novo Holdings, and Avidity Partners, and joined by all existing institutional investors, Health Velocity Capital, Greycroft Partners, Felicis Ventures, Company Ventures, and Obvious Ventures.

Its outcomes-focused model features personalized care plans for individual, couples, and family therapy that include in-person and virtual behavioral health . . .