AVP backs Valera Health
New York-based telebehavioral health service provider Valera Health announced the closing of a $3.8 million round led by AXA Venture Partners (AVP) with participation from Windham Ventures, Figure Eight Investments, and mental health expert Tom Insel, MD. Existing investors TWC and James Nahirny also participated in the round. To date, the company has raised $9 million.
Founded in 2015, Valera Health (a team of ~39) provides “personalized mental health services combining meditation, therapy, and medications wrapped around with technology.” Individuals seeking care through Valera are matched with an appropriate provider following an initial consultation with a behavioral health specialist. Valera’s care team includes licensed social workers and mental health counselors, nurse practitioners, and psychiatrists. Through the Valera Health App, users can reach out to therapists, access digital library wellness and meditation programs, or chat face-to-face with their clinician through an in-app video call.
“2020 has impacted everyone from all walks of life. The need for high-quality longitudinal mental health services is significant and Valera is positioned to help patients with anxiety and depression, as well as severe conditions like schizophrenia and bipolar disorder. With this funding, we can scale to multiple markets and bring our unique team-based approach to communities of need. We’re excited about our new partners who are global leaders in scaling businesses.” – Thomas Tsang, MD, CEO and co-founder.
“Low supply of behavioral health specialists limits access to mental health and puts patients at risk when they do not receive early intervention. Valera’s personalized and preventive behavioral health solutions use the power of technology to mitigate this pain point. We are excited to be a part of Valera’s stellar team and continue on this journey.” – Manish Agarwal, General Partner at AVP, who will be joining Valera’s board as a member.
“Now more than ever we need innovation in mental health care. Valera brings a unique combination of software and clinical expertise to provide high quality services to patients in need. The company is growing quickly and shows huge promise for 2021. I am excited to be on this journey with Valera.” – Tom Insel, MD, former Director of the National Institute of Mental Health.