Handspring Health hires licensed therapists and offers them ongoing training in evidence-based approaches like cognitive behavioral therapy, dialectical behavior therapy and exposure therapy. The New Jersey-based company also offers one-on-one support and consultation groups to sharpen their clinical skills.
“Good therapy depends on the therapists, so we built the company around ours, with training, supervision, and regular clinical consultation, instead of just matching families to whoever is available,” said Handspring’s Sahil Choudhry. “That’s what lets us care for a child whether their needs are mild or severe.”
Handspring’s therapists have provided virtual mental health care to more than 4,000 families in nine US states, providing care for children as young as eight, as well as teenagers and young adults. The company offers parent coaching for families with children as young as two. Most families pay less than $30 per session, with insurance accepted from Cigna, Aetna, UnitedHealthcare and Blue Cross Blue Shield.
Investing in health
Handspring is forming value-based care partnerships with insurers and expanding to other US states. The company is also developing its Complex Care program, which serves high-risk youths without access to high-quality, cost-effective mental health care and who are often turned away from traditional outpatient services.
The Series B round was led by Los Altos, Calif.-based RPS Ventures, with participation from new investor Angelini Ventures and existing investors Cobalt Ventures, NextView Ventures, NVP Capital, Hyde Park Angels and Cornucopian Capital. The round comes a year after Handspring’s $12 million Series A round and brings its total raised to $37 million.
