Brightline Revenue, Valuation, Funding & Investors

Brightline is valued at $705M as of July 2022, a 22.0x multiple on its last reported $32M revenue.

Last Brightline valuation

$705M

Series C · Jul 2022

Last Brightline funding round

$10M

Series C · Jul 2022

Brightline revenue

$32M

Series C · Jul 2022

Key investors in Brightline

  • Oak HC/FT
  • Threshold
  • Blue Cross Blue Shield of Massachusetts
  • GV
  • City Light Capital
  • Optum Ventures

Brightline Overview

About Brightline

Brightline is a Palo Alto-based behavioral health provider offering virtual therapy and coaching for children aged 0-18 and their families. Founded in 2019, it serves 1 million+ members through employer and health plan contracts with Aetna and Cigna, delivering 100,000 sessions monthly via app-based care teams. Brightline specializes in autism, ADHD, and anxiety with 90% clinical match rates, backed by $132 million in funding. The platform operates nationwide with licensed therapists in 50 states.


Founded

2019

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription, Services

Revenue

$32M (Jul 2022)

Valuation

$705M (Jul 2022)

Brightline Valuation

Brightline is currently valued at $705M, based on its Series C in July 2022.

The $10M round was led by Northwell Health.

Brightline's valuation has grown 50x from $14M at its seed round in December 2019 to $705M in July 2022, across 3 priced rounds.

Brightline valuation by funding round

Revenue multiple
Brightline valuation by funding round
DateStageValuationRevenue Multiple
Jul 2022Series C$705M22.0x
Mar 2022Series C$705M4.1x
Dec 2019Seed$14M-

Brightline Revenue

Brightline's latest recorded revenue is $32M, as of its Series C in July 2022. At a $705M valuation, that implies a 22.0x revenue multiple.

Revenue moved from $173M in March 2022 to $32M in July 2022, while the revenue multiple moved from 4.1x to 22.0x.

Brightline revenue by funding round

Brightline revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jul 2022$32M$705M22.0xSeries C
Mar 2022$173M$705M4.1xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Brightline Funding History

Brightline has raised a total of $205M across 5 funding rounds.

Brightline's first fundraising round was a $5M seed round in December 2019. The most recent completed round was a $10M Series C in July 2022.

Brightline funding rounds

Brightline funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2022Series CNorthwell Health (lead)$10M$705MBrightline is a virtual behavioral health provider focused on children, adolescents, and families, offering multidisciplinary care teams including coaching, therapy, psychiatry, and speech therapy via an app with videos, exercises, and chat features. Founded in 2019 in Palo Alto, California, the company addresses pediatric mental health needs such as autism spectrum disorder through early intervention and on-demand resources. It partners with major employers and health plans like Blue Cross Blue Shield of Massachusetts, Aetna, and Blue Shield of California, reaching 24 million covered lives and planning to expand to over 50 million in 2022 while tripling its care provider team from 85. In July 2022, Northwell Health, New York’s largest health system with 23 hospitals and over 830 outpatient facilities, invested $10 million in an extended Series C round, bringing the total Series C to $115 million and overall funding to approximately $212-220 million. This strategic partnership aims to enhance access to pediatric mental health services in the New York Metro area amid rising demand. Brightline plans to use the funds for partner coordination, content interventions, expanded care modalities, and tailored services for teenagers. The company’s valuation stood at $705 million following its March 2022 Series C round of $105 million led by KKR, with participation from GV, Optum Ventures, Oak HC/FT, Threshold Ventures, 7wireVentures, and others.
Mar 2022Series CKKR (lead); GV; 7wire Ventures; Blue Cross Blue Shield of Massachusetts; Oak HC/FT; Boston Children's Hospital; Threshold; Optum Ventures$105M$705MBrightline, a Palo Alto-based virtual behavioral health company focused on children, adolescents, and families, raised $105 million in a Series C funding round on March 29, 2022, led by KKR with participation from GV, Optum Ventures, Oak HC/FT, Threshold, 7wireVentures, Boston Children's Hospital's parent entity, and Blue Cross Blue Shield of Massachusetts. The round brought total funding to over $200 million and valued the company at $705 million post-money, according to Bloomberg reports cited across multiple sources. KKR's Johnny Kim joined the board. Brightline provides on-demand digital support, coaching, clinical services, and outcomes reporting for issues like anxiety, ADHD, depression, cyberbullying, and specialized needs such as autism spectrum disorder, LGBTQ+, and BIPOC youth. Operating in all 50 states, it serves 50 employers and covers over 24 million health plan lives, with plans to triple staff from 85 providers, expand partnerships, innovate care models, and enhance employee benefits. The funding accelerates national expansion amid surging pediatric mental health demand, following a $72 million Series B led by GV about a year prior. CEO Naomi Allen emphasized addressing systemic failures in child mental health care, positioning Brightline as a scaled leader.
Jun 2021Series BGV (lead); 7wire Ventures; Blue Cross Blue Shield of Massachusetts; Oak HC/FT; Blue Shield of California; Gaingels; Debra Lee; Threshold; Optum Ventures; SemperVirens Venture Capital; City Light Capital$65M--
Aug 2020Series AOak HC/FT (lead); Threshold (lead); Blue Cross Blue Shield of Massachusetts; Blue Shield of California; Boston Children's Hospital; SemperVirens Venture Capital; Rock Health Capital; City Light Capital$20M-Brightline, a Palo Alto-based virtual pediatric behavioral health platform formerly known as Emilio, raised $20 million in an August 2020 Series A funding round led by Oak HC/FT and Threshold Ventures, with participation from Blue Shield of California, Blue Cross Blue Shield of Massachusetts, Boston Children’s Hospital, SemperVirens Venture Capital, Rock Health Capital, and City Light Capital. The company offers telehealth services including behavior therapy, adolescent psychiatry, medication support, speech-language therapy, occupational therapy, and parent coaching, focusing on integrated clinical teams for children and families. Founded in 2019, Brightline began caring for patients in June 2020 in northern California ahead of schedule due to pandemic demand and expanded statewide shortly after, with plans for further states. The funding brought Brightline's total capital raised to $25 million, following a $5 million seed round in December 2019 also led by Oak HC/FT. Proceeds were allocated to enhance the technology platform, expand telehealth capabilities, develop additional treatment programs, increase geographic reach, and hire new team members amid rising demand for pediatric behavioral health during COVID-19. CEO Naomi Allen emphasized the need for accessible family-focused care via telehealth and mobile app. Investors highlighted Brightline's evidence-based model addressing an underserved pediatric market exacerbated by the pandemic, with strategic partners like Boston Children’s Hospital praising its potential for scalable, high-quality care. Blue Shield of California noted the startup's outcomes-based approach and technology for tackling costly behavioral health challenges.
Dec 2019SeedOak HC/FT (lead)$5M$14MBrightline is a virtual behavioral health platform focused on delivering care for children, teenagers, and families. The company provides accessible mental health services through telehealth, addressing needs like behavioral health conditions where historically 80% of affected children lacked appropriate treatment. On December 18, 2019, Brightline raised $5 million in a Series Seed round led by Oak HC/FT, achieving a post-money valuation of $14.29 million. This was the company's first funding round, with a price per share of $1.17. Subsequent rounds included a $20 million Series A on August 19, 2020, at a $69.01 million valuation, and later a Series B in June 2021 at $292.34 million. By March 2022, Brightline reached a $705 million valuation in a Series C round led by KKR, bringing total funding over $200 million.

Who has invested in Brightline?

15 investors have backed Brightline across its funding rounds, including Oak HC/FT, Threshold, Blue Cross Blue Shield of Massachusetts, GV, City Light Capital and Optum Ventures.

Lead investors include Northwell Health, KKR, GV, Oak HC/FT and Threshold.


Brightline Investors

Investors in Brightline by funding rounds participated
InvestorHQRoundsRoleFirst check
Oak HC/FTUnited StatesGreenwich, CT4LeadDec 2019
Blue Cross Blue Shield of MassachusettsUnited StatesBoston, MA3ParticipantAug 2020
ThresholdUnited StatesSan Francisco, CA3LeadAug 2020
GVUnited StatesSan Francisco, CA2LeadJun 2021
7wire VenturesUnited StatesUnited States2ParticipantJun 2021
Blue Shield of CaliforniaUnited StatesSan Francisco, CA2ParticipantAug 2020
Boston Children's HospitalUnited StatesBoston, MA2ParticipantAug 2020
Optum VenturesUnited StatesBoston, MA2ParticipantJun 2021
SemperVirens Venture CapitalUnited StatesSan Francisco, CA2ParticipantAug 2020
City Light CapitalUnited StatesNew York City, NY2ParticipantAug 2020
KKRUnited StatesNew York City, NY1LeadMar 2022
GaingelsUnited StatesNew York City, NY1ParticipantJun 2021
Debra LeeUnited StatesNew York City, NY1ParticipantJun 2021

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Brightline Competitors

Brightline competitors include listed companies like Talkspace and Teladoc, and private ones like Thrive Global, Doktor.se, Workit Health and SonderMind.

Public and private companies comparable to Brightline
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Thrive GlobalUnited StatesNew York City, NYPrivate--$700M-
Doktor.seSwedenStockholmPrivate$89M-$578M7.3x
TalkspaceUnited StatesUnited StatesPublicly listed$229M$6M$871M3.4x
Workit HealthUnited StatesAnn Arbor, MIPrivate--$500M-
SonderMindUnited StatesDenver, COPrivate--$1.1B-
TeladocUnited StatesUnited StatesPublicly listed$2.5B$124M$1.1B0.6x

Brightline Public Comps

Brightline is still privately-owned, but its public comps include Talkspace, Evolent Health, Teladoc, Outset Medical, Everkind Wellness, Pasithea Therapeutics, TALI Digital, Kaya Holdings, Compass Pathways and ACADIA Pharmaceuticals.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Talkspace$229M$6M3.4x3.4x129.3x49.4x
Evolent Health$1.9B($365M)0.7x0.5x(3.5x)9.4x
Teladoc$2.5B$124M0.6x0.6x11.3x5.0x
Outset Medical$119M($70M)0.1x0.1x(0.2x)(0.3x)
Everkind Wellness------
Pasithea Therapeutics-($20M)----
TALI Digital$166K($2M)16.6x-(1.7x)-
Kaya Holdings$7K($1M)----

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Common questions about Brightline

When was Brightline founded?Brightline was founded in 2019.
Where is Brightline headquartered?Brightline is headquartered in San Francisco, CA, United States.
Is Brightline publicly listed?No, Brightline is a private, VC-backed company.
What is Brightline's valuation?Brightline was last valued at $705M in its Series C in July 2022.
How much funding has Brightline raised?Brightline has raised $205M across 5 funding rounds.
What was Brightline's last funding round?Brightline's last funding round was a $10M Series C in July 2022, led by Northwell Health.
Who are Brightline's investors?Brightline's investors include Oak HC/FT, Blue Cross Blue Shield of Massachusetts, Threshold, GV, 7wire Ventures, Blue Shield of California, Boston Children's Hospital, Optum Ventures, SemperVirens Venture Capital, City Light Capital and 5 others.
What is Brightline's revenue?Brightline's latest recorded revenue is $32M (July 2022).
What is Brightline's revenue multiple?Brightline's latest valuation implies a 22.0x revenue multiple ($705M valuation on $32M of revenue).
Which companies are comparable to Brightline?Companies comparable to Brightline include Thrive Global, Doktor.se, Talkspace, Workit Health, SonderMind and Teladoc.

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