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Tava Health, a hybrid mental health platform, has secured $40 million in Series C funding in a round led by Centana Growth Partners.
Current investors Catalyst Investors, Blue Heron Ventures, Peterson Ventures and Springtide Ventures also participated in the round.
WHAT IT DOES
Tava Health works with employers, individuals and health plans to offer online and in-person mental health services, either in-network or on a cash-pay basis. The company's algorithm matches individuals to licensed therapists.
Alongside the raise, the company is offering three new products, including Symphony, a free AI-enabled practice management platform for behavioral health providers that integrates an AI clinical scribe, treatment planning tools, scheduling and telehealth, and provides payment from more than 200 health plans within two weeks with clawback protection.
The company also introduced TavaCare for Employers, which gives organizations the option to provide mental health benefits, including sponsored care with no out-of-pocket costs or a model that uses an employee's existing insurance without additional employer fees.
Tava Guide is a platform for health plans, systems and care coordinators to manage referrals and track patient progress, helping connect patients to care and monitor outcomes throughout the treatment journey.
"We raised this capital to invest deeply in our partners: the clinicians delivering care and the clinics managing the complexity behind it; the employers making care accessible and affordable for their employees; and the health plans moving beyond access toward real outcomes," Dallen Allred, cofounder and CEO of Tava Health, said in a statement. "When all three are better supported, the person sitting across from a clinician gets better care."
MARKET SNAPSHOT
In 2024, Tava completed a $20 million Series B funding round led by Catalyst Investors, with participation from existing investors, and in 2021, secured $10 million in Series A funding.
Tava Health secured $3 million in seed funding in 2020.
Other companies offering digital mental healthcare services include Unmind, which last year secured $26 million in growth capital, bringing its total raise to more than $100 million.
In 2024, mental healthcare platform Brightside Health secured $33 million in Series C funding, bringing its total raise to more than $100 million.
Other companies in the space include BetterHelp, Talkspace, Calm, Headspace and Cerebral.
