Allswell Raises $7 Million in Seed Funding
Allswell, a mental health platform dedicated to providing affirming and accessible care to the LGBTQ+ community, has successfully secured $7 million in seed funding. The funding round, which took place on October 14, 2026, was led by Rethink Impact, with additional participation from investors such as Magnify Ventures, Ulu Ventures, Hopelab Ventures, Techstars, and Amboy Street Ventures.
Company Mission and Services
Allswell focuses on delivering comprehensive mental health services that are accessible through Medicaid and major insurance providers. The platform offers various forms of care, including one-on-one virtual therapy, group programs, and trauma-informed behavioral healthcare. These services are specifically tailored to address issues like depression, anxiety, identity-specific trauma, and social transitions within the LGBTQ+ community.
Founders and Leadership
The company was co-founded by CEO Dawn Androphy, CTO Connor Gordon, and Mark Simons. Androphy and Gordon's vision for Allswell was shaped during their time at Stanford Graduate School of Business’ Startup Garage program.
Planned Use of Funds
The newly acquired funds are earmarked for several strategic initiatives. Allswell plans to expand its geographical reach beyond its current operations in Washington, D.C., Maryland, and Virginia. Additionally, the company aims to enhance its clinical training program and broaden the range of services offered on its platform. A significant future development includes the introduction of psychiatric medication management, which is expected to roll out next year.
Clinical Impact and Patient Engagement
Allswell has reported significant improvements in clinical outcomes among its patient cohorts. After 60 days of treatment, 77% of patients showed improvements in anxiety levels, while 71% experienced improvements in depression. The platform also boasts a higher than average patient retention rate, with many individuals remaining in treatment for over a year, compared to the industry norm of six to eight sessions.
Allswell continues to build on its mission to become a comprehensive medical home for LGBTQ+ patients, leveraging its recent funding to enhance and expand its services.