The company plans to use the funds to launch in all 50 states by year-end. Here are the top-line bullets you need to know.
Brightline, a pediatric behavioral healthcare company, has raised $72M in a Series B funding round with participation from Google Ventures, Threshold Ventures, City Light Capital, and 7wire Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Brightline is a behavioral healthcare platform designed for children and families.
- The company will launch 2 new services, Brightline Connect, which enables family access to personalized content, interactive exercises, and a support coach, and Brightline Coaching, which will connect patients with behavioral health coaches to address stress, anxiety, disruptive behavior, and more.
- Brightline has launched in California and Massachusetts and plans to expand to Washington in July.
Source: Brightline
WHY DOES THE MARKET MATTER?
- The global behavioral health market is projected to grow at a CAGR of 5.02% and reach a value of $242B by 2027, according to Precedence Research.
- Global healthcare funding hit a new record in 2020. A total of $80.6B in equity funding was raised across 5.5K+ deals.
- The demand for mental health services has skyrocketed amid Covid-19, as feelings of anxiety and stress have intensified during this period of uncertainty. In January 2021, nearly 4 in 10 adults in the US reported symptoms of anxiety or depressive disorder. This marks a significant increase from the just 1 in 10 adults who reported these conditions in January–June 2019.
