Connecticut-based suicide prevention telehealth platform Vita Health has secured $22.5 million in Series A funding.
LFE Capital, CVS Health Ventures, Athyrium Capital Management, Flare Capital Partners, Connecticut Innovations, CU Healthcare Innovation Fund and HopeLab participated in the round.
WHAT IT DOES
Vita Health connects telehealth providers with youth and adults contemplating suicide. The platform also provides teletherapy and psychiatry services for individuals with behavioral health conditions.
The funding will support the mental health company’s expansion.
“Our collective motivation was to shift a very deadly curve in our society that has far-reaching and lasting implications for all involved,” Lynn Hamilton, Vita Health cofounder and CEO, said in a statement.
“We are humbled by the participation from a broad group of sophisticated, experienced and strategic investors. With a growing roster of health plan partners, provider partners, employers, colleges and universities, we are expanding our reach to directly address the most challenging mental health problems in the U.S.”
MARKET SNAPSHOT
Suicide is one of the leading causes of death in the U.S., and the rate of suicides has increased by 2.6% from 2021 to 2022.
Vita Health secured $8.38 million in 2022.
Other digital health companies working to address suicidal ideations include mental health benefits provider Lyra Health and publicly traded digital behavioral health company Talkspace.