Investing in Health | March 28, 2024

InStride Health raises $30 million for pediatric mental health services

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

About one-third of young people will struggle with anxiety disorder or obsessive compulsive disorders by the age of 18. Boston-based InStride launched in 2021 to provide affordable specialty outpatient care for young patients. The company uses evidence-based treatments  such as cognitive behavioral therapy, or CBT, and exposure and response prevention.

InStride says 90% of the nearly 1,000 patients that have gone through its treatment experience a reduction in anxiety after two months. InStride offers “timely assistance through its digital platform at a lower cost than inpatient care, making it easier for underserved populations to access care,” said Erin Sietstra of San Francisco-based Hopelab, founded by The Omidyar Group, which backed InStride’s Series B round.

Geographic expansion.

InStride plans to expand to markets where there’s a shortage of specialty mental health providers. InStride’s services are available via most major insurance plans in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island.

The company has raised $56 million to date. Other investors in the round include General Catalyst, Mass General Brigham Ventures and .406 Ventures.