Talkiatry, a virtual psychiatry company, announced Thursday it raised $210 million as it looks to build on its insurance-covered services in a critical and difficult-to-access chunk of mental health care.
Since the Covid-19 pandemic, investors have fueled the rise of a number of large mental health tech companies. But Talkiatry’s focus on psychiatric conditions that require medication management stands out from other companies that focus on wellness, coaching, and therapy. Among Talkiatry’s strategic advantages is an employed workforce of 800 psychiatrists. The company contracts with insurers and serves as a referral partner for health systems whose patients need psychiatric care.
CEO and co-founder Robert Krayn said the new funding, led by Perceptive Advisors, in part provides a cushion to ensure the company can keep meeting its payroll for all those employed clinicians if there are revenue interruptions. Talkiatry declined to comment on a new company valuation or its progress toward profitability. Other backers include Sofina and Andreessen Horowitz.
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