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Streamlined Ventures
Minded Raises $25M for its Virtual Psychiatric Healthcare Platform that Makes Prescriptions Accessible
The pandemic has exacerbated the mental health crisis that the US has been facing for many years. According to the American Psychological Association, rates of anxiety and depressions for American Adults was 4x between April 2020 and August 2021 than they were for 2019. 15.8% of adult Americans are taking some form of mental health medication; the pharmaceutical market for mental health topped $36B in 2020. Minded is a psychiatric telehealth platform that allows patients to quickly and efficiently refill their mental health prescription needs for treatment of anxiety, depression, and insomnia. The company offers monthly virtual consults with board-certified psychiatric providers, 24/7 access to care teams, and is tailoring pharmaceutical plans based on DNA with plans to offer cutting-edge psychedelic therapies as well. Minded is offered for a simple $65 monthly fee with the cost of prescriptions additional. Initially launching in New York in 2021, Minded has expanded to serve patients in California, Florida, Illinois, New Jersey, Pennsylvania, and Texas. AlleyWatch caught up with Minded CEO and Cofounder David Ronick to learn more about how is personal journey inspired the decision to launch the company, the company’s strategic plans, and latest round of funding from investors that include Streamlined Ventures, Link Ventures, The Tiger Fund, Unicorn Ventures, Trousdale Ventures, Gaingels, SALT Fund, TheFund, and the founders of Care.com, Bolt, Gravity Blanket, RxBar, and Gilt.com.
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$1.2B invested in NYC startups in the past week; three newly-minted unicorns and one decacorn. NYC Tech News for the week ending 3/20 featuring news for Apploi, Hugging Face, and much, much more…