Alma Raises $130M in Series D Funding

Alma, a NYC-headquartered, membership-based network that helps independent mental health care providers accept insurance, raised $130m in Series D funding.

The round, which brought total funding to over $220m, was led by Thoma Bravo, with participation from Cigna Ventures, as well as existing investors Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners, and Sound Ventures.

The company intends to use the funds to expand its reach nationwide.

Led by founder and CEO Dr. Harry Ritter, Alma helps providers meet demand for mental health care by giving them the support and infrastructure they need to accept insurance and run their small business. When providers join Alma, they gain access to insurance support, teletherapy software, automated billing and scheduling tools, and a community of clinicians that come together for education, training, and events.

Over the past 12 months, Alma scaled its network to 8,000 mental health providers that are licensed to practice in all 50 states. They speak over 40 languages, ranging from American Sign Language to Cantonese.

In addition to the funding, the company added:

• Dr. Elisabeth Morray, a licensed psychologist and the former director of telehealth at LifeStance Health, who joined as the vice president of clinical operations.
• Erik Lumer, the former Chief Product Officer at Maven Clinic, who joined as Chief Product Officer to lead the company’s next phase of product development.
• Chiddy Onyia, Esq., the former General Counsel and Chief Compliance Officer at Quartet Health, who joined as General Counsel to help the company and our providers navigate the ever evolving regulatory landscape.

FinSMEs

25/08/2022