Alma, a mental health startup that matches patients with clinicians, raised $130 million in a Series D funding round.
The round was led by Thoma Bravo, a leading software investment firm, with participation from Cigna Ventures, Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners and Sound Ventures. The company has raised more than $220 million to date.
Alma said it will use the funding to scale its network. Over the past 12 months, Alma has tripled the size of its network, listing 8,000 mental health providers that are licensed to practice in all 50 states.
Alma said one of its main goals with the funding will be connecting diverse clinicians to underserved patient populations. Nearly 40% of its providers are Black, Hispanic or Asian, the company said.
Alma was founded by Dr. Harry Ritter, who was previously the vice president of care delivery at insurtech Oscar Health. It is the company’s third funding round in 19 months. In February 2021, it received $28 million and later that year, it received another $50 million.
After 2021 proved to be a hallmark year for digital mental health funding, 2022 has been a lot quieter. According to Digital Health Business & Technology’s database, Alma is the only the third startup dedicated to mental health to raise more than $100 million this year. Lyra Health and Brightline were the other two.
