The mental health industry in the US is a vital sector focused on improving individuals' well-being through various treatment and support options. It features a mix of telehealth platforms, mobile applications, and traditional therapy services. Companies like Headspace and SonderMind provide innovative solutions that leverage technology for better accessibility and engagement. With an increasing recognition of mental health's importance, the industry is expected to grow, driven by a higher demand for services, investments in digital health, and a shift towards proactive approaches. Investors are keenly interested in startups that provide solutions to the mental health crisis, often using technology to revolutionize care.


The investors in our list represent a dynamic mix of venture capital firms and corporate entities, primarily located in top US cities like San Francisco and New York. Founded between 1989 and 2023, these firms vary in size from small teams to expansive organizations. In 2024 alone, they completed numerous deals aimed at supporting innovative mental health startups. Notable investors include Y Combinator and GV (Google Ventures), showcasing a commitment to healthcare advancements and providing significant funding to emerging companies that focus on mental health.


Top 16 Mental Health Investors in the US


1. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that helps entrepreneurs launch and grow their businesses. Y Combinator has successfully launched over 4,000 startups, establishing itself as a key player in the technology startup ecosystem. Among its notable investments, Y Combinator has funded several companies in the mental health sector, including Headspace, which focuses on mindfulness and meditation; 7 Cups, an online emotional support platform; Modern Health, which offers mental health benefits for employees; and Meru Health, a digital mental health clinic. These investments highlight Y Combinator's commitment to supporting innovative solutions in mental health, alongside its broader investment strategy in various technology sectors.


2. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In recent years, the Government of Canada has made substantial investments in mental health initiatives, including a $177 million grant to CAMH in July 2023, a $3 million grant to Kids Help Phone in October 2022, and additional funding to organizations like Care Group, DiveThru, and Strongest Families Institute. These transactions highlight the government's active role in supporting mental health services and initiatives across Canada.


3. StartUp Health

  • Website: startuphealth.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2011
  • Headcount: 11-50
  • LinkedIn: startuphealth

StartUp Health is a not-for-profit organization based in New York, founded in 2011, that focuses on health innovation. They support health entrepreneurs and startups through their Health Moonshot Communities, providing resources, networking opportunities, and media content aimed at addressing significant health challenges. StartUp Health has been involved in several relevant transactions in the mental health space, including funding rounds for Valera Health, which raised $15 million for its telehealth platform targeting acute mental health conditions, and Quit Genius, which raised €10.1 million to help individuals quit addictions through a digital therapy program. Additionally, they have supported early-stage companies like wayForward and Neolth, which are also focused on mental health solutions. Their offerings include newsletters, podcasts, and a journal that highlight progress in health technology and innovation, further emphasizing their commitment to advancing mental health initiatives.


4. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been actively involved in the mental health sector, participating in significant funding rounds for companies such as SonderMind, which raised $150 million in Series C funding and $2.5 million in a Seed Round, and Mantra Health, which raised $22 million and $5 million in Series A funding. Additionally, the fund's involvement in Woebot Health, a therapy chatbot startup, further emphasizes its commitment to mental health innovation.


5. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities. In the mental health context, Plug and Play has made significant investments in companies such as Meru Health, which raised $8.1 million in Series A funding in March 2020, and $4.2 million in a Seed round in April 2019. They also invested in Takalam, an online counseling platform for mental well-being, which raised $1 million in a Pre-Seed round in January 2022. Additionally, they have supported HearMe and InSite Health in their Seed rounds, further showcasing their active role in the mental health industry.


6. Gaingels

  • Website: gaingels.com
  • Type: Venture Capital
  • Headquarters: Burlington, Vermont, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 60
  • LinkedIn: gaingels

Gaingels is a venture capital firm founded in 2015, based in Burlington, Vermont, dedicated to investing in companies with diverse leadership. The firm provides capital and support to startups, particularly those led by underrepresented groups, to foster diversity and inclusion in the innovation economy. Gaingels has been involved in several notable transactions in the mental health space, including investments in Woebot Health, a therapy chatbot startup that raised $90 million in a Series B funding round, and Valera Health, which focuses on telehealth for patients with acute mental health conditions and recently raised $15 million. These investments highlight Gaingels' commitment to supporting innovative solutions in the mental health industry, alongside their broader mission of enhancing diversity in the startup ecosystem.


7. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. In the mental health context, 500 Global has made notable investments in companies such as Myndlift, which focuses on mental wellness, and Terapify, an online therapy platform. Additionally, they invested in Shezlong, an Egypt-based online therapy startup, which aims to expand its services across the Middle East. These transactions highlight 500 Global's commitment to supporting innovative solutions in the mental health space, alongside their broader investment strategy.


8. General Catalyst


General Catalyst is a venture capital firm founded in 2000, based in San Francisco, California. The firm specializes in early-stage and growth investments across various industries, including technology and healthcare. They provide capital and strategic guidance to help startups scale their operations effectively. Notably, General Catalyst has invested in several mental health-related companies, including SonderMind, which raised $150 million in Series C funding to enhance mental health services, and $27 million in Series B funding to expand its offerings. They also participated in the seed funding for Mindhouse, a wellness platform, and invested in Equip Health, which raised $58 million for virtual eating disorder treatment. Furthermore, their investment in Plume Clinic, which focuses on gender-affirming virtual care, highlights their commitment to mental health and wellness services. These transactions underscore General Catalyst's active role in the mental health sector.


9. Goodwater Capital

  • Website: goodwatercap.com
  • Type: Venture Capital
  • Headquarters: Burlingame, California, United States (USA)
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: goodwater-capital

Goodwater Capital is a venture capital firm based in Burlingame, California, founded in 2014. The firm specializes in consumer technology and supports seed-stage entrepreneurs by providing investment, resources, and a community to help them grow. Goodwater Capital focuses on various sectors, including healthcare and financial services, with a mission to improve access to technology solutions for underserved communities. Notably, they have made significant investments in the mental health space, including a $3 million seed funding round for Youper, a mental health app utilizing AI technology. They have also invested in Terapify and Wellnite, both of which are involved in providing mental health services. Additionally, they participated in the pre-seed funding for DocVita, further demonstrating their commitment to enhancing mental health solutions through technology.


10. New Enterprise Associates (NEA)

  • Website: nea.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1977
  • Headcount: 51-200
  • Number of deals in 2024: 57
  • LinkedIn: new-enterprise-associates

New Enterprise Associates (NEA) is a prominent venture capital firm based in Menlo Park, California, founded in 1977. The firm specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. NEA partners with entrepreneurs to provide funding and strategic guidance, emphasizing long-term relationships with founders. In the mental health space, NEA has made significant investments, including leading funding rounds for Woebot Health, which raised $90 million in Series B funding for its therapy chatbot, and $22.8 million in Series A funding for the same company. They also invested in Jiandanxinli (Simple Psychology), which raised over $31 million in Series B funding, showcasing their commitment to mental health solutions. Additionally, NEA led an investment in Woebot Labs, a mental health AI platform that raised $8 million, further solidifying their role as a key player in the mental health investment landscape.


11. Silicon Valley Bank

  • Website: svb.com
  • Type: Venture Capital
  • Headquarters: Santa Clara, California, United States (USA)
  • Founded year: 1983
  • Headcount: 5001-10000
  • Number of deals in 2024: 31
  • LinkedIn: silicon-valley-bank

Silicon Valley Bank is a commercial bank founded in 1983, specializing in providing financial services to the innovation economy, particularly tech startups and venture capital firms. They offer a range of products including business banking, global payments, and asset management, helping clients navigate financial challenges and support their growth. In the mental health sector, Silicon Valley Bank has been involved in several significant transactions. They provided $3 million in debt financing to Mindoula Health, which focuses on mental health services, and participated in a $75 million Series B funding round for Grow Therapy, a startup aimed at improving mental health care access. Additionally, they supported Tridiuum with debt funding in a $9.5 million Series B financing round, which aims to enhance behavioral health outcomes management. These investments highlight their engagement in the mental health industry, despite their broader focus on technology and innovation.


12. What If Ventures

  • Website: whatif.vc
  • Type: Venture Capital
  • Headquarters: Frisco, Texas, United States (USA)
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 14
  • LinkedIn: what-if-ventures

What If Ventures is a venture capital firm based in Frisco, Texas, founded in 2020. The firm specializes in funding and supporting startups in the mental health and digital health sectors. They provide an accelerator program, funding opportunities, and resources to help these companies develop innovative solutions to address mental health challenges. Notably, What If Ventures has participated in several key transactions in the mental health space, including a $50 million investment in Aptihealth, which focuses on mental health services, and multiple rounds of funding for NeuroFlow, a mental health technology company that has raised significant capital to expand its operations and reach. Their portfolio also includes investments in Grow Therapy and Field Trip Health, both of which are involved in enhancing mental health care access and services. Their focus on startups that aim to improve mental health care access positions them as a key player in this sector.


13. GV (Google Ventures)

  • Website: gv.com
  • Type: Venture Capital
  • Headquarters: San Francisco Bay Area, California, United States (USA)
  • Founded year: 2009
  • Headcount: 51-200
  • Number of deals in 2024: 74
  • LinkedIn: gv

GV (Google Ventures) is a venture capital firm based in the San Francisco Bay Area, founded in 2009. With over $10 billion in assets under management, GV focuses on various sectors, including life sciences and artificial intelligence. The firm partners with innovative technology startups to help them navigate the challenges of building successful companies. Notably, GV has invested in Brightline, which raised $105.2 million in 2022 and $65 million in 2021 to expand its mental health services for children and families. Additionally, GV has invested in Quartet Health, which raised $60 million in a corporate round in 2021 and has focused on expanding access to behavioral health resources for underserved Medicaid patients. These transactions highlight GV's commitment to supporting mental health initiatives.


14. City Light Capital

  • Website: citylight.vc
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2004
  • Headcount: 1-10
  • Number of deals in 2024: 16
  • LinkedIn: city-light-capital

City Light Capital is a venture capital firm based in New York, founded in 2004. The firm specializes in investing in early-stage companies that aim to create measurable social impact across various sectors, including education, safety, and the environment. In recent years, City Light Capital has made notable investments in the mental health space, including a $65 million Series B investment in Brightline, a company dedicated to providing mental health services for children and families. They also invested $35 million in Cerebral during its Series A round, a company that offers online mental health care, and participated in multiple funding rounds for Ginger, which provides on-demand mental health support. These transactions highlight City Light Capital's commitment to supporting innovative solutions in the mental health industry, alongside their broader social impact investment strategy.


15. Sosv

  • Website: sosv.com
  • Type: Venture Capital
  • Headquarters: United States (USA)
  • Founded year: 1995
  • Headcount: 51-200
  • Number of deals in 2024: 170
  • LinkedIn: sosv

Sosv is a venture capital firm founded in 1995, specializing in funding and supporting deep tech startups through its development programs. With a global reach, Sosv connects innovative companies with investors and provides resources to help startups grow in various sectors, including health and climate technology. Notably, Sosv has invested in Flow Neuroscience, which raised funds through convertible notes and seed rounds to develop its mental health products. Additionally, they have invested in Ria Health, a telehealth provider focused on alcohol use disorder treatment, which raised significant funding in Series A and Series B rounds. These transactions highlight Sosv's commitment to supporting mental health initiatives.


16. Khosla Ventures

  • Website: khoslaventures.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 2004
  • Headcount: 51-200
  • Number of deals in 2024: 97
  • LinkedIn: khosla-ventures

Khosla Ventures is a venture capital firm founded in 2004, based in Menlo Park, California. The firm specializes in providing funding and strategic guidance to startups, particularly in technology, healthcare, and sustainability sectors. Khosla Ventures has a notable track record in the mental health industry, having invested in several key players. For instance, they led the Series A funding for Ginger.io, a behavioral health analytics startup, which has raised significant capital over the years, including $35 million in Series C funding in 2019. They also participated in the Series A funding for Replika, an AI messenger that serves as a mental health companion, and Flow Neuroscience, which focuses on developing treatments for depression. These investments highlight Khosla Ventures' commitment to supporting innovative solutions in the mental health space, making them a relevant player in this sector.



Mental Health Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
StartUp HealthNew York, New York, United States (USA)11-5020110
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
GaingelsBurlington, Vermont, United States (USA)11-50201560
500 GlobalSan Francisco, California, United States (USA)201-500201098
General CatalystSan Francisco, California, United States (USA)51-2002000144
Goodwater CapitalBurlingame, California, United States (USA)51-200201441
New Enterprise Associates (NEA)Menlo Park, California, United States (USA)51-200197757
Silicon Valley BankSanta Clara, California, United States (USA)5001-10000198331
What If VenturesFrisco, Texas, United States (USA)1-10202014
GV (Google Ventures)San Francisco Bay Area, California, United States (USA)51-200200974
City Light CapitalNew York, New York, United States (USA)1-10200416
SosvUnited States (USA)51-2001995170
Khosla VenturesMenlo Park, California, United States (USA)51-200200497


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