Ginger raises $50 million
On-demand mental healthcare company Ginger announced a $50 million Series D funding round led by Advance Venture Partners and Bessemer Venture Partners. Additional participants include Cigna Ventures and existing investors such as Jeff Weiner, executive chairman of LinkedIn, and Kaiser Permanente Ventures. This latest round of investment brings the company’s total funding to over $120 million.
Founded in 2011, Ginger brings together behavioral health coaches, therapists, and psychiatrists, who deliver personalized care through one’s smartphone. People get access to Ginger through the company’s partnerships with employers, health plans, and strategic partners, and today, over 200 companies ranging from startups to Fortune 100s partner with the company.
“At Cigna Ventures, we are committed to investing in bold, new ways to make high-quality healthcare simpler and more affordable. We believe that Ginger is well positioned to make this a reality in mental healthcare and look forward to supporting their efforts to expand access to this innovative model.” – Sahil Choudhry, Managing Director, Cigna Ventures.
“Our mental healthcare system has long been inadequate. But in the midst of a worldwide pandemic and a tumultuous sociopolitical climate, we’re facing uncharted territory, People are demanding better care, and the largest payers of healthcare are recognizing the need to respond. Ginger is uniquely able to reverse the course of this crisis at scale. With this investment, we can accelerate our work to deliver incredible mental healthcare at a fraction of the cost to the hundreds of millions of people around the world who deserve it.” – Russell Glass, CEO of Ginger.