Vida Health, a virtual care platform designed to treat a person’s whole health by treating mental and physical conditions, raised $110 million in its Series D funding round led by General Atlantic and joined by Centene, AXA Venture Partners (AVP), and Ardea Capital Partners.
Returning investors include Ally Bridge Group, Yahoo founder Jerry Yang’s AME Cloud Ventures, Aspect Ventures, Canvas Ventures, Guidewell, NGP Capital, and Workday Ventures.
According to Vida, its virtual care app combines an AI-powered, personalized experience with the support and human connection of coaches and therapists. The app offers video sessions, messaging, and digital content to help people prevent, manage, and reverse chronic conditions like diabetes and hypertension and the mental conditions that accompany them – like stress, depression, and anxiety.
Vida’s clients include employers like Boeing, Visa, Cisco, and eBay, along with some of the country’s largest health plans like Centene, Humana, and Blue Cross Blue Shield plans.
The company plans to use the new funding to expand its network of clinicians, mental health coaches, dietitians, and licensed therapists to meet the increasing demand for virtual care, particularly in mental health. According to the company, the funding will also help deepen its machine learning capabilities, broaden its commercial efforts, and provide more people the care they need.
The Vida virtual program is used by more than 400,000 people with type 2 diabetes and mental health. The program allows Vida’s licensed therapists and cognitive-behavioral coaches to work with CBT-trained coaches to treat sub-clinical conditions like stress, mindfulness, and sleep, while licensed therapists manage patients who are suffering from clinical levels of depression, anxiety, and stress.
“Our mission is vast but simple: transform the lives of millions of people suffering from chronic mental and physical conditions,” said Stephanie Tilenius, Vida Health founder and CEO. “This new capital accelerates us toward our goal of impacting the lives of 100 million people globally through reversing the symptoms and costs of chronic disease. We’re thrilled to add marquee healthcare investors to help us scale our company and continue to develop the most efficient and innovative care solutions in the market.”
Telehealth companies raised $2.4 billion in Q1 2021 compared to $1.2 billion raised in Q4 2020, a 100% increase in QoQ. Year-over-year funding increased by 154% in Q1 2021 compared to $930 million raised in Q1 2020, according to the recently released Mercom’s Q1 2021 Digital Health Funding and M&A Report.