Minded nabs $25M to boost mental health medication access

Minded has raised $25 million in seed financing as the demand for online psychiatry and behavioral health treatments continues to gain traction.

The company offers a telehealth platform that lets users schedule virtual appointments with board-certified psychiatrists and psychiatric nurse practitioners who evaluate symptoms and prescribe medications for depression, anxiety and insomnia. Patients are then able to have those prescriptions sent to their pharmacies or delivered to their homes.

Launched in 2021, New York-based Minded is backed by investors including Streamlined Ventures, Link Ventures, The Tiger Fund and Unicorn Ventures. The new funding will be used to develop offerings such as genetic testing for more accurate prescribing, and psychedelics for treatment-resistant depression.

Minded’s seed round comes amid an overall rise in VC funding for mental health companies, with the sector setting a new record in 2021.
 

 

Cerebral, a mental health startup that launched in January 2020, tops the list of the most valuable companies in the sector. Backed by investors including Artis Ventures and Oak HC/FT, the San Francisco-based company provides medication management and telemedicine therapy for anxiety, depression and more. Another notable startup in the space is SonderMind, the Denver-based operator of a mental health platform that connects licensed therapists and patients for in-person and virtual sessions.

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