Ginger closes $100M Series E round, AppliedVR scores $29M and other digital health fundings

Also: Dexcare raises $20 million for healthcare management platform and Heard closes seed funding round.
By Laura Lovett
02:45 pm

(Screenshot Ginger website) 

Digital mental health company Ginger landed $100 million in a Series E funding round led by Blackstone Growth. This round comes less than a year after the company closed a $50 million Series D round.

The company offers on-demand behavioral health coaching and video therapy. It has worked with the employer market to offer virtual therapy and psychiatry sessions.

The new money will go towards building its partner portfolio across insurers and health plans. It has also looked at the M&A space and explored buying more technologies and clinical services.

Ginger has also named Jesse Silver as chief product officer of the company and added Blackstone's Ram Jagannath to the board of directors.

“The past year demonstrated how employers, health plans, and investors are ready to double down on solutions that address the global mental health crisis,” Russell Glass, CEO of Ginger, said in a statement. “With this round of funding, we will continue to advance our technology, further our research to improve outcomes, and expand care access within underserved populations.”

Los Angeles startup AppliedVR scored $29 million in Series A funding. F-Prime Capital, JAZZ Venture Partners, Sway Ventures, GSR Ventures, Magnetic Ventures and Cedars-Sinai participated in this round.

The startup uses virtual reality to deliver at-home treatment for chronic pain. In October the company landed an FDA Breakthrough Device designation for its technology to treat fibromyalgia and chronic lower back pain.

Its program combines a VR headset with visual and audio programs that delivers cognitive behavioral therapy, as well as relaxation and mindfulness.

The company plans to use the new funds to help it go through the FDA clearance process. This funding brings the company's total raise to $35 million.

New healthcare management company DexCare raised $20 million in a round led by Define Ventures. Frist Cressey Ventures, Kaiser Permanente Ventures, SpringRock Ventures and Providence Ventures also participated.

The Providence Health system spin-out designed a platform to help health systems manage their patient capacity and demand. It includes an intelligent navigation tool for patients, a capacity optimization tool, a function to assist in care continuity and a demand generation tool that helps surface clinician availability.

"We're thrilled to see the incredible support for DexCare – from consumers, health systems and investors. Never before have consumers been faced with so many options for digitally-enabled care as health systems have invested in their digital capabilities in the wake of COVID-19. 

"At the same time, the rise in the number of point solutions has led to significant increase in complexity among the myriad offerings, as well as confusion for consumers. The need could not be greater for a rich platform that unifies consumer demand, health system resources and applications to make digital care truly work for all consumers and health systems," Derek Streat, cofounder and CEO of DexCare, said in a statement.

Heard, a tool designed to help mental health professionals with digital bookkeeping, scored $1.3 million in digital health funding, according to a GeekWire report. Founders' co-op led the round, with participation from Act One Ventures and individual investors.

The tool is focused on helping private practices keep track of their business needs, including taxes and bookkeeping. Companies are able to track their financials, expenses, earnings, operating profit margins and deductions found. Clients are also able to contact the company with questions regarding taxes.



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