Digital mental health startup Hurdle (formerly Henry Health) secured $5 million in a Seed funding round led by 406 Ventures and Seae Ventures, with participation from F-Prime.
The company plans to use the new funds to scale its evidence-based and tech-enabled platform, designed to support culturally diverse populations’ behavioral health needs.
“With this financing, Hurdle will significantly expand its reach and be able to help corporate and payer customers cement their Diversity & Inclusion commitments by providing broader access to culturally-responsive mental health services,” said Kevin Dedner, Founder and CEO of Hurdle.
Hurdle is a virtual mental health platform specializing in culturally competent care. The company provides a teletherapy solution for employers and insurers and intends to remove barriers to mental health care. Patients can complete a registration form online and then get matched with a therapist, use an online portal where they can connect to care, and then have therapy sessions from their device.
“Kevin and his team have made impressive strides in a short amount of time. We are excited about what the next few years will bring and look forward to working with Kevin and this team to expand Hurdle’s capacity to meet a large and important unmet need, said Liam Donohue, co-founder and managing partner of .406 Ventures.”
Telemedicine companies raised a record $4.3 billion funding during 2020. The funding increased by 140% in 2020, compared to $1.8 billion raised in 2019. According to Mercom funding data, digital mental health startups have raised over $1.5 billion in the past five years. Recently Modern Health, a digital mental health platform, raised $51 million in a Series C funding round at a valuation of over $500 million.