Grow Therapy, a digital-first mental health company, has raised $88 million in Series C funding, bringing its total raise to over $178 million and its valuation past the $1 billion mark. This significant investment signals continued momentum for the Grow Therapy mental health platform, which has become a leader in supporting private practice therapists while transforming access to behavioral care.
Led by Sequoia Capital, the funding round also included participation from Goldman Sachs Alternatives, PLUS Capital, and returning investors Transformation Capital, SignalFire, and TCV. The capital will be used to enhance the platform’s measurement-informed care system, improve value-based care reporting, and strengthen payer partnerships.
“We are committed to not only improving access but also supporting clinicians in delivering effective care,” said Jake Cooper, co-founder and CEO of Grow. “The measurement-informed care model equips providers with insights to adapt their treatment plans to the evolving needs of their clients and to allow each individual to be aware of their progress.”
a new standard for clinical care delivery
The Grow Therapy mental health platform integrates tools like the PHQ-9, GAD-7, and Therapeutic Alliance measures to ensure therapy outcomes are tracked and used to inform treatment. Providers can also customize care using diagnostically-specific measures, improving both precision and client engagement.
“We are also making available additional diagnostically-specific measures that our providers can add on for their particular clients during the course of their care if they would like,” said Cynthia Grant, Head of Clinical Excellence.
This approach is central to the company’s model of measurement-informed care, which enables therapists to identify what’s working and adjust course early—fostering stronger therapeutic relationships and better results.
expanding access with value-based infrastructure
The Grow Therapy mental health platform isn’t just innovating on the clinical side—it’s also helping to redefine the financial model for behavioral care. With both value-based and fee-for-service contracts, Grow aligns care quality with reimbursement across private and public payers, including Cigna (NYSE: CI), Aetna, Humana (NYSE: HUM), Medicare, and Medicaid.
“We’ve been able to drive great alignment through [value-based care], but above all are committed to meeting our insurance partners where they are,” Cooper explained.
With value-based care gaining ground in behavioral health, Grow is positioned as a trusted collaborator for payers seeking evidence of outcomes and cost-effectiveness.
powering independent providers at scale
Unlike many digital health companies that directly employ clinicians, Grow empowers independent private practice therapists by providing a comprehensive back-end solution. The Grow Therapy mental health platform includes:
- HIPAA-compliant telehealth tools
- Online scheduling and intake
- Billing and EHR software
- Marketing and patient acquisition support
- Insurance credentialing and in-network payer access
Now active in 46 states and Washington D.C., Grow has facilitated over 3 million therapy sessions and is rapidly scaling its provider network.
hybrid models and strategic integration
In a recent strategic move, Grow announced a partnership with Big Health, integrating its provider network with Big Health’s suite of digital mental health programs. This fusion of virtual therapy and evidence-based self-guided tools reflects the Grow Therapy mental health platform’s broader commitment to hybrid care models that improve scalability without sacrificing personalization.
This partnership also positions Grow to address a wider spectrum of needs, including early intervention and self-management, reducing system burden and improving access for lower-acuity patients.
resilience in a shifting digital health landscape
Despite a broader downturn in digital health funding in 2023, Grow’s raise reflects growing investor confidence in platforms delivering real-world results. According to Rock Health, Q1 2024 saw 133 digital health fundraises—the highest volume in six quarters—though average deal sizes dropped to $20.6 million, the lowest since 2019.
Still, mental health and AI-enabled platforms remain bright spots. In addition to Grow:
- EarliTec raised $21.5 million for autism diagnostics
- A digital behavioral health company serving employers raised $58 million
- AI mental health chatbot Limbic secured $14 million for U.S. expansion
The Grow Therapy mental health platform stands out by combining robust clinical infrastructure with scalable technology, creating a sustainable business model that appeals to both providers and payers.
the road ahead for grow therapy
Looking forward, Grow aims to further its leadership in outcomes-based behavioral health care. With its Series C funding, the company plans to:
- Expand its network of credentialed providers
- Deepen value-based care reporting to payers
- Advance data-driven insights into care effectiveness
- Broaden availability of condition-specific measurement tools
For a mental health system long plagued by fragmentation, long wait times, and misaligned incentives, the Grow Therapy mental health platform offers a unified solution that empowers providers, connects patients to care, and delivers measurable results.
As digital mental health continues to mature, Grow is building a blueprint for how to scale access without sacrificing quality—one therapy session at a time.
