Brightline, a virtual behavioral health services provider for children and families, raised $20 million in Series A round. Threshold Ventures and Oak HC/FT led the round, with participation from Blue Shield of California, Blue Cross Blue Shield of Massachusetts, and Boston Children’s Hospital joined the round, as well as SemperVirens VC, Rock Health, and City Light Capital.
The company recently launched its telehealth service for behavior therapy, psychiatry, speech-language therapy, coaching support, to circumvent the impact of a global pandemic on kids.
Brightline plans to use the funds to increase its business reach with innovative technology and, expand telehealth capabilities and treatment programs, and grow the team.
Emily Melton, co-founder and managing partner at Threshold Ventures, said, “We have seen increased utilization and investment in behavioral health solutions recently, but the pediatric behavioral health market has been woefully overlooked. The need for a comprehensive solution-based approach was substantial before the pandemic and has only been exacerbated by the current crisis.” “Brightline’s cross-disciplinary team is uniquely capable of delivering science-backed behavioral and mental health care for children leveraging virtual solutions that are equally accessible and effective. Brightline has the right solution for this unique time – recognizing that mental health is a family affair.”
“The COVID-19 pandemic continues to strain health systems and take a psychological toll on children and families across the country. The need for an innovative, virtual solution to address the behavioral health needs of children and provide support for families is more urgent than ever. We’re proud to continue backing Naomi, Giovanni and the entire team at Brightline in their mission to bring extraordinary behavioral health care to kids at home,” said Annie Lamont, co-founder & managing partner of Oak HC/FT.
Paul Markovich, president and CEO of Blue Shield of California says that Brightline’s innovative, family-focused approach led them to invest in the company.
According to Mercom Funding and M&A Report, in a notable deal with similar technology, Ayogo Health, the developer of a virtual behavioral support app, raised $7.5M in Series B.