FamilyWell Health has raised a fresh $8 million in Series A funding to help fuel its women’s mental health platform.
New Markets Venture Partners led the round with participation from .406 Ventures, GreyMatter Capital, The Alix Foundation, The Donna Fund and The Lee Foundation.
The provider got its start in maternal mental health but has plans to expand its service to care for women across a life cycle.
The Boston-based startup plans to bring its virtual mental health services, including care coordination, coaching, therapy, and psychiatry, into clinics and health systems. Currently, the provider operates in Massachusetts, New Hampshire, Connecticut, Illinois and Texas.
The new capital will help the provider expand its partnerships. Additionally, the company is focused on expanding its AI capabilities and growing its perimenopause and menopause care.
“FamilyWell is an ideal fit for New Markets’ mission to invest in evidence-based solutions that improve lives and expand access to life-saving care,” Mark Grovic, General Partner and founder of New Markets Venture Partners, said in a statement. “By integrating proven women’s mental health care into everyday clinical workflows, FamilyWell reduces suffering, strengthens family well-being, and helps parents return to work and thrive.”
FamilyWell Health isn’t the only virtual care company treating women’s mental health. For example, in September, Diana Health raised $55.4 million for its integrated women’s health care platform, which includes mental health.
In May, maternal mental health startup Seven Starling raised $12.6 million in capital. Additionally, Mamaya Health, which focuses on women’s mental health, raised $3 million in funding.
Some legacy players are also starting to provide specific women’s mental health offerings. For example, LifeStance has established specific women’s mental health treatment.