Health Tech Startup Lands $150M

The latest funding round was led by existing investors TCV and Growth Equity at Goldman Sachs Alternatives. New investors, including BCI and Menlo Ventures, also participated, signaling strong confidence in the company's growth trajectory. This brings Grow Therapy's total capital raised to $328 million. The Series D round reportedly values the company at $3 billion. This significant valuation comes as the company disclosed it is generating approximately $1 billion in revenue. The fresh capital is earmarked for expanding partnerships with employers and health systems, and further developing its technology for patients and therapists. Grow Therapy was founded by CEO Jake Cooper, who previously worked in private equity, alongside Dr. Manoj Kanagaraj, the company's Chief Strategy Officer, and Alan Ni, the Chief Technology Officer. The founders were motivated by personal experiences with the challenges of finding affordable, in-network mental healthcare. The company operates on a "business-in-a-box" model, providing therapists with essential tools like scheduling, billing, and insurance credentialing. Grow Therapy has also integrated AI-powered tools, such as a notetaker that it claims reduces documentation time for providers by nearly 70%. This funding round is part of a larger trend of significant investment in the mental health tech space. Other major players like Talkiatry, Headway, and Alma have also recently secured substantial funding rounds. In 2025 alone, Grow Therapy facilitated seven million therapy and psychiatric visits and now partners with over 125 health plans. The company is focused on bridging the gap between Employee Assistance Programs (EAPs) and insurance-covered care, allowing employees to continue with the same therapist after their EAP sessions are used. Recent partnerships include collaborations with major insurers like Guidewell and the primary care company Circle Medical.