Everbright Health Receives $7 Mn Seed funding from W Health Ventures & Sanos Capital The company said it will use the funds to further build out its technology platform, accelerate sales across the US, and launch newer therapy areas with similar operational models.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Everbright Health, a tech-enabled managed services platform that helps mental health providers deliver advanced interventions as part of everyday care, has announced a USD 7 million seed investment from W Health Ventures and Sanos Capital.
Everbright said that mental health care has historically relied only on medications and talk therapy to treat patients, yet nearly half of individuals with mental health conditions do not experience full recovery through these traditional approaches. Everbright said it aims to empower mental health providers, such as psychiatrists, psychologists, and therapists, who want an integrated approach to care for their patients.
"Mental health care has made real progress in expanding access to therapy and medications. But for millions of people, they need more. We're building a future where every mental health provider can deliver a full spectrum of care, including advanced interventions that many patients need to get better," said Ben Kuhn, Co-founder and CEO at Everbright Health.
According to a press release, the company is initially focused on advanced care modalities, including Transcranial Magnetic Stimulation (TMS) and SPRAVATO. The therapies are said to be FDA-approved, clinically validated, and broadly covered by insurance. The company claims that many eligible patients have not received them because mental health providers in the US lack the specialized infrastructure needed to deliver these treatments effectively.
"We're bullish on the asset-light management services organization model because it allows us to build genuine partnerships with clinicians rather than compete with them. When we couldn't find one in psychiatry, we built it ourselves. With remarkable outcomes and growing demand, these treatments are on the cusp of becoming mainstream, poised for their own 'GLP-1 moment' of adoption," said Dr. Pankaj Jethwani, Managing Partner at W Health Ventures.
Everbright has clocked in three months of operations and has contracted over 75 behavioral health providers across seven markets in the US. The company said it will use the funds to further build out its technology platform, accelerate sales across the US, and launch newer therapy areas with similar operational models.
