Grow Therapy Secures $150 Million in Series D Financing
Grow Therapy, a New York-based mental health platform, has raised $150 million in a Series D funding round. The platform, known for offering online and in-person therapy services that are compatible with insurance plans, aims to make mental health care more accessible and stress-free.
Funding Details and Investors
The Series D round was led by TCV and Growth Equity at Goldman Sachs Alternatives. Additional support came from new investors BCI and Menlo Ventures, alongside existing investors Sequoia, SignalFire, and Transformation Capital.
Company Background
Grow Therapy was co-founded by Jake Cooper, who serves as the CEO, alongside Alan Ni, the Chief Technology Officer, and Dr. Manoj Kanagaraj, the Chief Strategy Officer. The company is committed to improving mental health care accessibility by partnering with health plans, employers, and health systems.
Service Expansion and Technology Enhancements
Since its inception, Grow Therapy has facilitated over 10 million appointments, with more than two million users engaging with its platform for therapy and medication management. In 2025 alone, the company managed seven million visits. The platform boasts a high client satisfaction rate, with nine out of ten clients recommending the service and an 85 Net Promoter Score.
Grow Therapy has significantly expanded its technology offerings, including enhancements to scheduling, billing, and electronic health records. The company has introduced AI-assisted notes to help providers reduce documentation time by nearly 70% while maintaining accuracy.
Strategic Use of Funds
The newly raised funds will be used to further expand Grow Therapy's partnerships with health plans and employers, and to enhance its technology infrastructure. The company plans to increase its insurer network, which already includes more than 125 health plans, such as Medicare and Medicaid, making its services accessible to 220 million people nationwide.
Grow Therapy is also focusing on developing employer-sponsored mental health programs, aiming to integrate employee assistance programs with health plan coverage. This initiative seeks to ensure seamless transitions to insurance-covered care without requiring employees to change providers.
Future Prospects
As Grow Therapy continues to innovate and expand, the company is well-positioned to address the growing demand for mental health services. The latest funding round underscores investor confidence in its ability to deliver effective and accessible mental health care solutions.