DotCom Therapy, a pediatric teletherapy company, closed a $13 million Series A funding round. New Capital Partners led the financing round, with participation from LRVHealth and OSF Ventures.
DotCom Therapy provides mental health, behavioral, speech, and occupational therapy to children through a virtual therapy platform. The company partners with providers and schools to deliver its services.
According to data from the Centers for Disease Prevention and Control, nearly one in five children have a mental, emotional, or behavioral disorder, such as anxiety or depression, and only about 20% of them get help from a qualified provider. With new funds, the company plans to.
DotCom Therapy plans to use new funds to advance the features and functionality of its proprietary technology, Zesh, expand access to therapy for kids, and scale its partnerships with providers and payers in the healthcare industry. The company currently provides services for over 400 schools and health systems across 38 states.
“DotCom Therapy is already a major disruptor in pediatric teletherapy across the education and healthcare sectors. This funding will help expand their reach into healthcare systems that desperately need high-quality mental health resources during this critical time,” said James Outland, managing partner of New Capital Partners.
“This funding will fuel our expansion across healthcare systems, where the widespread therapist shortage is overburdening staff, greatly impacting the patients and families they serve,” said Rachel Mack Robinson, DotCom Therapy’s founder, and president.
Robinson added, “The pandemic drew a spotlight on the mental health crisis impacting children and families. “DotCom Therapy is a proven solution to the ongoing therapist shortage that benefits patients while improving operational and financial performance for healthcare systems, making it a win/win for all.”
Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report.