Brightside Health Funding, Investors & Competitors

Brightside Health has raised $114M across 5 funding rounds, most recently a $33M Series C in March 2024.

Last Brightside Health funding round

$33M

Series C · Mar 2024

Cumulative funding Brightside Health raised

$114M

across 5 funding rounds

Key investors in Brightside Health

  • ACME Capital
  • Triventures
  • Mousse Partners
  • Craft Ventures
  • Village Global
  • Bullpen Capital
  • S32
  • Trousdale Ventures

Brightside Health Overview

About Brightside Health

Brightside Health is a San Francisco-headquartered telemedicine provider of mental health care for anxiety, depression, and ADHD. The platform combines precision psychiatry with medication management, therapy sessions, and daily check-ins via app. Clinicians prescribe via video from a network licensed in 40 states. Founded in 2017, Brightside serves 100,000 members with 80 percent symptom reduction rates.


Founded

2017

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Brightside Health Funding History

Brightside Health has raised a total of $114M across 5 funding rounds.

Brightside Health's first fundraising round was a $2M seed round in June 2018. The most recent completed round was a $33M Series C in March 2024.

Brightside Health funding rounds

Brightside Health funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2024Series CS32 (lead); Kennedy Lewis Investment Management; ACME Capital; Triventures; TIME BioVentures; Mousse Partners; Anne Wojcicki$33MBrightside Health is a San Francisco-based telemental health company founded in 2017, providing precision psychiatry, clinically proven therapy, and Crisis Care for individuals with anxiety, mild to severe clinical depression, mood disorders, and elevated suicide risk. It uses a machine-learning algorithm to tailor treatments and has expanded partnerships with payers like CareOregon, Blue Cross and Blue Shield of Texas, and Centene to serve 50 million in Medicare and Medicaid populations. The company has published nearly a dozen peer-reviewed research papers and focuses on high-value use cases like emergency department discharge. On March 26, 2024, Brightside Health raised $33 million in a Series C funding round led by S32, with participation from Kennedy Lewis Investment Management, TIME BioVentures, Anne Wojcicki (Redwood Pacific), ACME Capital, Mousse Partners, and Triventures. This brings total funding to over $100 million, following a $50 million Series B in 2022 and $24 million Series A previously. The round also welcomed former Optum Behavioral Health Solutions CEO Trip Hofer to the board. Funds will accelerate expansion into Medicare, Medicaid, and other underserved markets, deepen payer and health system partnerships, enhance technology and AI for better outcomes, and support new offerings. CEO Brad Kittredge emphasized capital-efficient growth toward profitability.
Mar 2022Series BACME Capital (lead); Mousse Partners (lead); Trousdale Ventures; Bullpen Capital; Triventures$50MBrightside Health is a San Francisco-based telemedicine platform providing fast access to personalized treatment, expert providers, and ongoing support for mental health concerns like depression and anxiety. On March 28, 2022, it raised $50 million in Series B funding led by ACME Capital and Mousse Partners, with participation from existing investors Bullpen Capital, Triventures, and Trousdale Ventures, bringing total funding to $75 million. The capital aims to expand access to high-quality mental healthcare nationwide, enhance the platform, forge payer partnerships serving over 30 million insurance members, and grow the team from 57 to 175 employees. The company emphasizes superior clinical outcomes through a scalable precision medicine platform, positioning itself for value-based care in mental health by underwriting population risks. Investors highlighted Brightside's commitment to quality and sustainable outcomes, with partnerships enabling access for millions. Subsequent rounds include a $33 million Series C in 2024 led by Section 32 with participation from ACME, Mousse, and others, bringing total funding over $100 million, and further expansions into Medicare and Medicaid serving 50 million beneficiaries across multiple states.
May 2021Series AACME Capital (lead); Triventures$24MBrightside Health is a San Francisco-based digital behavioral health provider offering virtual cognitive behavioral therapy, medication management, and self-care tools for patients with severe mood disorders like anxiety and depression. It uses technology including machine learning to create personalized treatment plans from patient intake data, differentiating from one-size-fits-all approaches, and had developed around 1,000 unique plans by mid-2021. On May 28, 2021, it raised $24 million in a Series A round led by ACME Capital (also referred to as ACME Ventures), with participation from Triventures (or TriVentures) and Bullpen Capital, bringing total funding to $31.4 million including a prior $5-7.4 million seed or venture round. Funds supported team expansion, tripling staff since January 2021 with hires from tech and digital health firms. The round occurred amid surging investor interest in mental health startups, with Brightside partnering with insurers like Cigna and Aetna in June 2021 to access over 55 million people. It positioned itself for severe cases using data-driven recommendations beyond basic therapy apps. Brightside continued growth with a $50 million Series B in 2022 led by ACME Capital and Mousse Partners (total funding then $75 million), followed by a $33 million Series C in 2024 led by S32 (total over $100 million), focusing on Medicare/Medicaid expansion, AI enhancements, profitability path, and acquisitions like Lionrock Behavioral Health for substance use disorder treatment.
Mar 2020Seed-$5MBrightside Health raised $5M in a venture round announced on March 5, 2020. The company provides virtual mental health care focused on anxiety, depression, and mood disorders through telemedicine, combining data, technology, and clinicians. Brightside Health later secured $24M in Series A funding on May 28, 2021, led by ACME Capital with participation from Triventures and Bullpen Capital, though valuation was not disclosed.
Jun 2018SeedVillage Global (lead); Craft Ventures$2MBrightside Health raised $2.4 million in a Venture Round on June 28, 2018. A prior Pre-Seed Round occurred on May 4, 2018, with Village Global. The company, founded in 2017 by Brad Kittredge, provides virtual cognitive behavioral therapy, medication management, and self-care advice for patients with severe mood disorders rooted in depression or anxiety.

Who has invested in Brightside Health?

11 investors have backed Brightside Health across its funding rounds, including ACME Capital, Triventures, Mousse Partners, Craft Ventures, Village Global and Bullpen Capital.

Lead investors include S32, ACME Capital, Mousse Partners and Village Global.


Brightside Health Investors

Investors in Brightside Health by funding rounds participated
InvestorHQRoundsRoleFirst check
ACME CapitalUnited StatesSan Francisco, CA3LeadMay 2021
TriventuresIsraelHerzliya3ParticipantMay 2021
Mousse PartnersUnited StatesNew York City, NY2LeadMar 2022
Village GlobalUnited StatesLos Angeles, CA1LeadJun 2018
Trousdale VenturesUnited StatesLos Angeles, CA1ParticipantMar 2022
Bullpen CapitalUnited StatesSan Francisco, CA1ParticipantMar 2022
Kennedy Lewis Investment ManagementUnited StatesNew York City, NY1ParticipantMar 2024
S32United StatesSan Diego, CA1LeadMar 2024
TIME BioVenturesUnited StatesLos Angeles, CA1ParticipantMar 2024

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Brightside Health

Brightside Health has acquired 1 company to date.

Last acquisition by Brightside Health was on June 12th 2024. Brightside Health acquired Lionrock Recovery for undisclosed valuation.


Latest Acquisitions by Brightside Health

Lionrock Recovery
Description
Lionrock Recovery is a virtual healthcare provider specializing in evidence-based addiction and mental health treatment delivered via secure video conferencing. The Redwood City-headquartered company operates in 38 U.S. states and maintains referral partnerships with leading inpatient addiction facilities. Lionrock achieved Joint Commission accreditation in 2020 as only the second fully online program recognized by the authority overseeing more than 19,000 healthcare organizations. Clients discover the service primarily through online searches, including international users seeking accessible outpatient care.
HQ CountryUnited States
HQ City
San Francisco, CA
Deal Date12 Jun 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Brightside Health Competitors

Brightside Health competitors include listed companies like Talkspace and Hims, and private ones like Cerebral, Grow Therapy, Headway and Nourish.

Public and private companies comparable to Brightside Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TalkspaceUnited StatesUnited StatesPublicly listed$229M$6M$871M3.4x
HimsUnited StatesUnited StatesPublicly listed$2.3B$178M$6.5B2.4x
CerebralUnited StatesSan Francisco, CAPrivate--$4.8B-
Grow TherapyUnited StatesNew York City, NYPrivate$1B-$3B-
HeadwayUnited StatesNew York City, NYPrivate--$2.3B-
NourishUnited StatesNew York City, NYPrivate$160M-$1.8B10.9x

Brightside Health Public Comps

Brightside Health is still privately-owned, but its public comps include Humana Inc., Max Healthcare Institute, Oscar Health, Hims, Doximity, ACADIA Pharmaceuticals, Compass Pathways, Ping An Healthcare, JMDC and GoodRx.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Humana Inc.$130B$3B0.4x0.3x17.8x16.6x
Max Healthcare Institute$858M$232M12.6x10.2x46.5x36.8x
Oscar Health$12B($391M)0.5x0.4x(15.9x)12.8x
Hims$2.3B$178M3.1x2.4x40.4x23.9x
Doximity$645M$229M6.3x6.2x17.7x11.9x
ACADIA Pharmaceuticals$1.1B$119M3.6x3.2x32.3x33.6x
Compass Pathways-($293M)--(5.8x)(8.4x)
Ping An Healthcare$815M$52M0.9x0.9x13.4x16.9x

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Common questions about Brightside Health

When was Brightside Health founded?Brightside Health was founded in 2017.
Where is Brightside Health headquartered?Brightside Health is headquartered in San Francisco, CA, United States.
Is Brightside Health publicly listed?No, Brightside Health is a private, VC-backed company.
How much funding has Brightside Health raised?Brightside Health has raised $114M across 5 funding rounds.
What was Brightside Health's last funding round?Brightside Health's last funding round was a $33M Series C in March 2024, led by S32.
Who are Brightside Health's investors?Brightside Health's investors include ACME Capital, Triventures, Mousse Partners, Village Global, Trousdale Ventures, Bullpen Capital, Kennedy Lewis Investment Management, S32, TIME BioVentures, Anne Wojcicki and 1 other.
Which companies are comparable to Brightside Health?Companies comparable to Brightside Health include Talkspace, Hims, Cerebral, Grow Therapy, Headway and Nourish.
How many companies has Brightside Health acquired?Brightside Health has acquired 1 company, including Lionrock Recovery.

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