Brightline, a virtual behavioral health company focused on pediatric and family-based services, raised $105 million in Series C funding.
The Palo Alto, California-based company has raised more than $200 million in funding. The company said the latest investment puts its valuation at $705 million.
The latest round was led by KKR with contributions from GV, Optum Ventures, Oak HC/FT Partners, Threshold, 7wireVentures, Children’s Medical Center Corporation and Blue Cross Blue Shield of Massachusetts.
"Our healthcare system is failing our children, which has devastating public health and economic consequences. We simply cannot ignore that fact any longer,” Naomi Allen, co-founder and CEO of Brightline, said in a news release.
Brightline says it will use the new funding to create mental health services to support caregivers of young children with autism spectrum disorder and young people who identify as LGBQT or Black, Indigenous, and people of color.
Brightline joins a growing group of digital mental health companies benefiting from investor interest. In December, Cerebral, a virtual mental health startup, raised $300 million. In January, Lyra Health, a mental health benefits provider for employees, raised $235 million. Last year, two of the biggest companies in digital mental health merged in a $3 billion deal when Headspace acquired Ginger.
With its focus on pediatric behavioral health, Brightline has found inroads in the increasingly competitive space. The company has partnered with health insurers and employers including Aetna, Blue Cross Blue Shield of Massachusetts, Blue Shield of California, Schools Insurance Group (MCSIG), Sequoia, Stanford University, and Xcel Energy.