Flourish Health Secures $46 Million in Series A Funding
RICHMOND, Virginia, USA — Flourish Health, Inc, a mental health provider specializing in care for young individuals with severe needs, announced it has raised $46 million in a Series A funding round. This round was led by B Capital, with participation from F-Prime and Cherryrock Capital.
Founded by Natalia Birgisson, who serves as the CEO, Flourish Health focuses on offering expert care through in-home visits, virtual sessions, and the support of a comprehensive care team. The company partners with most major health plans, aiming to address the mental health challenges faced by young people that traditional models often fail to support.
National Expansion Plans
The new funding will be pivotal for Flourish Health's national expansion. The company plans to extend its reach in collaboration with major health plans across the country. This expansion is part of their mission to deliver effective mental health care through what they term as "Care Pods" — psychiatrist-led teams that provide coordinated care.
Proven Outcomes
Flourish Health's innovative approach has demonstrated significant outcomes. According to studies conducted with various major health plans, the company has achieved a 70-96% reduction in hospitalizations and a 69-90% decrease in residential treatment needs. Moreover, they report a sustained 80-95% decrease in higher levels of care required post-discharge. These results have facilitated partnerships with nearly all major health plans, including Medicaid and commercial insurers.
Use of Funds
The capital secured in this funding round will be used to scale the company's services nationally. Flourish Health aims to enhance its AI-enabled care delivery platform, which plays a crucial role in coordinating the efforts of their Care Pods. This technological advancement is expected to streamline workflows and improve patient outcomes as the company expands its footprint.
Looking Forward
With this substantial investment, Flourish Health is set to further its mission of providing accessible and effective mental health care to youth in crisis. By leveraging both in-person and virtual care methods, the company continues to adapt to the evolving needs of its patients and the healthcare landscape.
Natalia Birgisson, CEO of Flourish Health, stated, "Our goal is to ensure that every young person in need of serious mental health care has access to the best possible support. This funding will help us reach more families and improve the lives of those we serve."