Brightline, a virtual behavioral health solution designed to support children, teenagers, and their families, raised $72 million in a Series B funding round.
GV (formerly Google Ventures) led the funding round, with participation from new investors Optum Ventures, 7wireVentures, and Gaingels, a venture investment syndicate supporting diversity and representing the LGBTQ community and allies.
Returning investors in the round include Oak HC/FT, Threshold Ventures, Blue Shield of California, Blue Cross Blue Shield of Massachusetts, SemperVirens VC, and City Light Capital.
As part of the funding, Debra Lee, Chairman and CEO Emeritus, BET Networks, also contributed to the round as an independent investor.
Brightline has now raised a total of nearly $100 million in funding to date.
According to the company, the new capital will be utilized primarily to scale its care across the country. The company is also expanding and actively partnering with employers and health plans across the country – working together to bring accessible and affordable care to as many families as possible, right when it’s needed most.
“CDC data shows that an estimated 1 in 5 U.S. children has a diagnosed mental or behavioral health condition – yet 80% will not get the care they need. Pediatric behavioral health care is often less accessible and comprehensive than care for adults,” said Ben Robbins, psychiatrist and Venture Partner at GV who is joining Brightline’s Board of Directors.
“In the past year, families everywhere have felt the impact of the pandemic on their children and daily lives. We’re seeing more children, adolescents, and teens than ever with behavioral health challenges – now is the time for us to get ahead of the coming wave of need,” said Naomi Allen, Brightline CEO and co-founder. “The latest funding will allow us to innovate even more quickly, expand rapidly, and help more children and families get the care they deserve.”
The telehealth category witnessed a massive influx of VC funding during the first quarter (Q1) of 2021, raising a total of $2.4 billion, according to the recently released Mercom’s Q1 2021 Digital Health Funding and M&A Report.