The mental health services industry in the US encompasses various sectors, including outpatient services, telehealth platforms, and substance abuse treatment. Companies in this space range from large healthcare providers to innovative startups focused on digital therapies. As awareness around mental health grows, there is a surge in demand for accessible care options. In recent years, technology-driven solutions, such as mobile apps and online platforms for therapy, have gained traction, promising to improve accessibility and outcomes. The industry is increasingly pivoting toward integrated care models, emphasizing the importance of mental well-being alongside physical health, reshaping how services are delivered for future generations.


The investors listed here are a mix of large corporate entities and venture capital firms, primarily based in states like California, New York, and Kentucky. Founded between 2004 and 2023, they range from small teams to firms with hundreds of employees. In 2024, these 16 investors executed a notable number of deals, collectively exceeding 900. Their investments reflect a growing focus on mental health services, addressing varying aspects of care, including preventive measures and innovative solutions aligned with public demand for improved mental well-being.


Top 16 Mental Health Services 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 diverse portfolio, Y Combinator has made significant investments in the mental health services sector, including 7 Cups, which raised funds in 2013 to provide online emotional support; Headspace, a meditation app that raised funds in 2012; Meru Health, which raised $4.2 million in 2019 for its mental health platform; and Modern Health, which raised $9 million in 2019 to offer mental health solutions. These transactions highlight Y Combinator's commitment to supporting innovative mental health services alongside its broader investment strategy.


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 needs such as 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 significant investments in mental health services, 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 DiveThru in May 2023. These transactions highlight the government's active role in enhancing mental health support and services across Canada, reflecting its commitment to addressing mental health issues within the community.


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, focused on health innovation and supporting health entrepreneurs and startups through its Health Moonshot Communities. Founded in 2011, it provides 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 services sector, including investments in Valera Health, which raised funds for its telehealth platform targeting acute mental health conditions, and Quit Genius, which aims to assist individuals in overcoming addictions through a digital therapy program. These investments highlight StartUp Health's active role in promoting mental health solutions and technologies.


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 services sector, participating in significant funding rounds such as SonderMind, which raised $150 million in Series C and $2.5 million in a Seed Round, and Mantra Health, which raised $22 million and $5 million in Series A funding. These investments highlight the fund's commitment to supporting innovative solutions in mental health care.


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 services context, Plug and Play has made notable investments such as in Meru Health, which raised $8.1 million in a Series A round in March 2020, and $4.2 million in a Seed round in April 2019. Additionally, they participated in the Pre-Seed funding of Takalam, an online counseling platform for mental well-being, which raised $1 million in January 2022. These transactions highlight their active role in supporting mental health startups, showcasing their commitment to enhancing mental health services through technology and innovation.


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 significant transactions in the mental health services sector, including investments in Cerebral, which raised $35 million in Series A funding, and Brightline, which secured $65 million in Series B funding. They also participated in funding rounds for Valera Health, a telehealth platform focused on patients with acute mental health conditions, showcasing their commitment to enhancing mental health services. Overall, Gaingels not only invests in diverse leadership but also actively supports companies that address mental health needs.


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. Notably, 500 Global has made significant investments in the mental health services sector, including Terapify, which raised funds in multiple seed rounds in 2019 and 2020, and Shezlong, an online therapy startup that raised $350,000 in 2018 to expand its services in the Middle East. Additionally, they invested in Myndlift, which focuses on mental health solutions, further demonstrating their engagement in this industry. Overall, 500 Global's portfolio reflects a commitment to innovative mental health services, making them a valuable player in this space.


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 and growth-stage companies scale effectively. Notably, General Catalyst has made significant investments in the mental health services sector, including a $27 million Series B investment in SonderMind, a Denver-based mental health company, and a $150 million Series C investment in the same company. They also participated in a seed funding round for Mindhouse, a wellness platform, and were involved in the acquisition of Oceans Healthcare, a leading provider of behavioral health services. Additionally, they invested in Plume Clinic, which focuses on gender-affirming virtual care services, further showcasing their commitment to mental health and wellness initiatives.


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. In the mental health services context, Goodwater has made significant investments in companies such as Youper, which raised $3 million in seed funding to enhance its AI capabilities for mental health support. Additionally, they have invested in Wellnite and Terapify, both of which are involved in providing mental health services. Furthermore, Goodwater participated in the Series B funding for Elemy, a digital health company focused on autism, showcasing their broader interest in health-related technology solutions.


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 venture capital firm founded in 1977, based in Menlo Park, California. NEA specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. The firm partners with entrepreneurs to provide funding and strategic guidance, helping them navigate the challenges of building successful businesses. NEA operates through a collaborative approach, emphasizing long-term relationships with founders. In the mental health services context, NEA has been involved in significant transactions such as leading the Series A funding for Woebot Labs, a mental health AI platform designed to assist users with anxiety and depression through cognitive behavioral therapy principles. Additionally, NEA has invested in Woebot Health, which raised substantial funding in both Series A and Series B rounds, focusing on therapy chatbot solutions. They also participated in funding Jiandanxinli (Simple Psychology), which raised funds to enhance its mental health service offerings. These transactions highlight NEA's active role in supporting mental health innovations.


11. 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, that specializes in investing in early-stage companies with a focus on creating measurable social impact across various sectors, including education, safety, and the environment. The firm provides seed and Series A investments, along with business development support, to help entrepreneurs scale their impactful solutions. Notably, City Light Capital has made significant investments in the mental health services sector, including a $35 million Series A investment in Cerebral, a company that offers online mental health care. They also invested $65 million in Brightline during its Series B round, a company dedicated to providing mental health services for children and families. Additionally, City Light Capital participated in multiple funding rounds for Ginger, a mental health platform that raised $50 million in Series D and $35 million in Series C. These transactions underscore City Light's active role in supporting mental health initiatives and their commitment to fostering solutions that address mental health challenges.


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 been involved in significant transactions within the mental health services context, including a Series B investment of $11 million in Field Trip Health in August 2020, and multiple funding rounds for Foresight Mental Health, including Seed, Series A, and Series C investments. They also participated in a $50 million Series B funding round for Aptihealth, which focuses on mental health solutions. Their primary customers are startups seeking to improve access to mental health care, highlighting their active role in this industry.


13. 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 based in Menlo Park, California, founded in 2004. The firm specializes in providing funding and venture assistance to startups across various sectors, including technology, healthcare, and sustainability. Khosla Ventures supports entrepreneurs with resources and strategic guidance to navigate the challenges of building their businesses. Notably, they have made significant investments in the mental health services sector, including multiple rounds of funding for Ginger, a behavioral health analytics startup, which raised a total of $35 million across Series A, B, and C rounds. Additionally, Khosla Ventures invested in Marble Health, which raised $5 million in a seed round in 2024. These transactions highlight Khosla Ventures' commitment to advancing mental health solutions and their active role in the mental health services industry.


14. 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. With a focus on helping clients navigate financial challenges and support their growth, SVB offers a range of products including business banking, global payments, and asset management. In the context of mental health services, SVB has been involved in several significant transactions, including a $3 million debt financing for Mindoula Health, which focuses on mental health services, and participation in a $75 million Series B funding round for Grow Therapy, a mental health startup aimed at expanding insurance coverage and improving service offerings. Additionally, SVB has provided substantial debt financing to other health-related companies, indicating a broader interest in the healthcare sector, including mental health.


15. 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 founded in 2009, based in the San Francisco Bay Area, California. With over $10 billion in assets under management, GV focuses on funding and supporting innovative technology startups across various sectors, including life sciences and artificial intelligence. Notably, GV has invested in mental health services through significant transactions such as 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 2021 and has a mission to enhance access to behavioral health resources for traditionally underserved Medicaid patients. These transactions highlight GV's commitment to supporting advancements in mental health services.


16. CVS Health

  • Website: cvshealth.com
  • Type: Corporate
  • Headquarters: Woonsocket, Rhode Island, United States (USA)
  • Founded year: 1963
  • Headcount: 10001+
  • Number of deals in 2024: 13
  • LinkedIn: cvs-health

CVS Health Corporation is a healthcare provider based in Woonsocket, Rhode Island, offering a wide range of services including retail pharmacy, health insurance through Aetna, and health services via MinuteClinic. Founded in 1963, CVS Health serves consumers by providing accessible healthcare solutions and wellness products through its extensive network of pharmacies and clinics. In recent years, CVS Health has made significant investments in the mental health services sector, including a $25 million investment in Array Behavioral Care, a virtual mental health clinic, and participation in a $22.5 million Series A funding round for Vytyl Health Management, a suicide prevention telehealth platform. Additionally, CVS Health Ventures has invested in Workit Health, a digital provider of substance use disorder treatment, indicating a strategic focus on expanding mental health care access and services. These transactions highlight CVS Health's commitment to enhancing mental health services within its broader healthcare offerings.



Mental Health Services 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
City Light CapitalNew York, New York, United States (USA)1-10200416
What If VenturesFrisco, Texas, United States (USA)1-10202014
Khosla VenturesMenlo Park, California, United States (USA)51-200200497
Silicon Valley BankSanta Clara, California, United States (USA)5001-10000198331
GV (Google Ventures)San Francisco Bay Area, California, United States (USA)51-200200974
CVS HealthWoonsocket, Rhode Island, United States (USA)10001+196313


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