Brave Health, which provides virtual-first behavioral health services for Medicaid populations, this week announced growth into 10 states and a $10 million Series B financing round. The company plans to use the funds to continue expanding into more states in 2022. The financing round was led by City Light Capital, Union Square Ventures and Able Partners. As part of the financing, City Light Capital’s Josh Cohen joined Brave Health’s board of directors as a strategic advisor to guide the next phase of expansion. To date, Brave Health has raised $20.75 million.
The company launched with health plans in Florida in 2019 and has scaled to serve more than 65 million covered lives across 113 health plan contracts in 10 states, including North Carolina, Kentucky, Georgia, Illinois, Texas, New York, Ohio, Michigan, and Alabama.
The Brave Health platform offers a virtual alternative to traditional outpatient services including therapy, psychiatry, case management, and medication-assisted treatment for mental health and substance use disorder. The company offers same-day assessments and reduces typical wait times to less than a week. It works closely with Medicaid health plans and case managers, provider organizations, and major hospital systems across the U.S. to increase consumer treatment engagement rates by providing a concierge-like wrap-around care team. Their key goals are improving outcomes while reducing the overall costs of care for referred consumers. During the first 10 months of 2020, Brave Health received over 11,000 referrals from health plan case managers, primary care physicians, and hospitals. Of those, about two-thirds of the consumers opted to receive treatment.
This was reported by Brave Health on October 26, 2021.
Contact Information: Brave Health, Inc., 1951 NW 7th Ave., Suite 300, Miami, FL 33136; 305-902-6347; Website: https://bebravehealth.com/
Contact Information: Jen Long, Co-Founder, 120/80 MKTG, Public Relations For Brave Health, 44Greenwich Ave., Greenwich, CT 06901; 617-784-3245; email@example.com