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- Slingshot AI
Slingshot AI Revenue, Valuation, Funding & Investors
Slingshot AI is valued at $220M as of August 2024, a 22.0x multiple on its last reported $10M revenue.
Last Slingshot AI valuation
$220M
Seed · Aug 2024
Last Slingshot AI funding round
$53M
Series A · Jul 2025
Slingshot AI revenue
$10M
Seed · Aug 2024
Key investors in Slingshot AI
Andreessen Horowitz
Felicis
Menlo Ventures
Forerunner
Andreesen Horowitz
Radical Ventures
About Slingshot AI
Slingshot AI is a New York and London-based AI research firm developing tools to expand mental health access amid a 10,000:1 provider shortage. The team builds psychology-informed models for personalized interventions, serving users via apps since 2023 with cross-disciplinary expertise from clinicians and engineers.
Founded
2022
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$10M (Aug 2024)
Valuation
$220M (Aug 2024)
Slingshot AI Valuation
Slingshot AI is currently valued at $220M, based on its seed round in August 2024.
The $30M round was led by Andreessen Horowitz and Felicis.
Slingshot AI valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2024 | Seed | $220M | 22.0x |
Slingshot AI Revenue
Slingshot AI's latest recorded revenue is $10M, as of its seed round in August 2024. At a $220M valuation, that implies a 22.0x revenue multiple.
Slingshot AI revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2024 | $10M | $220M | 22.0x | Seed |
* 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.
Slingshot AI Funding History
Slingshot AI has raised a total of $123M across 3 funding rounds.
Slingshot AI's first fundraising round was a $30M seed round in August 2024. The most recent completed round was a $53M Series A in July 2025.
Slingshot AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2025 | Series A | Forerunner (lead); Radical Ventures (lead); Menlo Ventures; Felicis; Andreessen Horowitz | $53M | - | Slingshot AI is a New York-based AI research company founded by Neil Parikh, co-founder of Casper, and Daniel Reid Cahn, an AI engineer with mental health tech experience, focused on increasing global access to mental healthcare through AI. The company launched Ash, an AI-powered therapy chatbot available on Android and iOS, trained on diverse behavioral health datasets incorporating techniques like CBT, DBT, ACT, psychodynamic therapy, and motivational interviewing. Ash provides personalized mental health support via talk or text, recognizing user patterns, remembering prior conversations, and adapting modalities to user needs. In July 2025, Slingshot AI closed an extension to its Series A funding round, co-led by Radical Ventures and Forerunner Ventures, with participation from prior investors Andreessen Horowitz (a16z), Felicis, and Menlo Ventures, bringing total funding raised to $93 million. This followed a seed round of $30 million in August 2024 led by a16z and Felicis, and earlier undisclosed pre-seed funding, with some sources citing a total of $123 million across rounds. The latest $93 million tranche, announced around July 22, 2025, supports the public launch and global expansion of Ash, enhanced AI capabilities, go-to-market operations, and scaling on infrastructure like Nebius GPU clusters. Ash had already attracted 50,000 beta users and shown promising results in a 10-week trial where 76% of users reported decreased depression symptoms and 77% lower anxiety levels, rivaling traditional therapy outcomes. The company positions Ash as a foundational model for psychology, distinct from general-purpose AI chatbots, amid a growing $2 billion AI mental health market projected to reach $12 billion by 2034. |
| Jan 2025 | Series A | Andreessen Horowitz (lead); Andreesen Horowitz | $40M | - | Slingshot AI is a New York City-based startup developing the first foundation model for psychology to revolutionize mental health support through AI-driven therapy, acting as a virtual therapist to build user self-awareness, confidence, and relationships. Founded by Neil Parikh (co-founder of Casper, which scaled to over $500M in revenue) and Daniel Cahn (AI researcher), the company focuses on task-specific generative models for psychology, including AI-assisted crisis text response and counseling solutions. On January 14, 2025, Slingshot AI raised $40M in a Series A round led by Andreessen Horowitz (a16z), bringing total funding to $40M at that point, with participation from the Cultural Leadership Fund and angels like those from Oura, Replit, Hugging Face, ElevenLabs, and others. The funding validates Slingshot AI's vision amid growing demand for mental health solutions affecting nearly 50% of the global population, positioning it against competitors like Woebot ($90M funded), Wysa ($20M funded), and Jimini ($8M raised). Andreessen Horowitz highlighted the shift in consumer acceptance of AI chatbots for mental health, emphasizing that general-purpose models fall short for psychology, where therapists empower control rather than provide answers. The capital supports refining AI models using cutting-edge datasets and expanding offerings for global partnerships in rapid mental health support. |
| Aug 2024 | Seed | Andreessen Horowitz (lead); Felicis (lead) | $30M | $220M | Slingshot AI is a New York and London-based startup developing large-language models and an AI-powered chatbot named Ash for behavioral and mental health, targeting subclinical issues like sadness, stress, and relationship challenges to address the provider shortage (10,000:1 demand ratio). The company launched in May 2024, founded by Neil Parikh (ex-Casper co-founder) and Daniel Reid Cahn (ML engineer with AI mental health research), with clinical expertise from Head of Clinical Derrick Hull (ex-Noom, Talkspace). Slingshot AI raised approximately $30 million in a seed round around August 20, 2024, led by Andreessen Horowitz (a16z), with strong investor interest leading to a fast-follow investment from Menlo Ventures. Sources confirm the initial a16z-led round valued the company at over $100 million, while the post-Menlo investment brought the post-money valuation to $220 million. Felicis participated as a co-investor in the seed per query context, though primarily highlighted in later Series A announcement; additional backers included TMV, SV Angel, and notable angels. The funding reflects Silicon Valley's rush into AI for mental health, a $115 billion US market per Precedence Research, amid competitors like Woebot ($123M raised, FDA designation for postpartum depression). Slingshot interviewed over 100 therapists to inform its approach, aiming to scale access via task-specific generative models for psychology. By January 2025, a16z led a Series A bringing total capital to $40M, with coinvestors including Felicis, Menlo, and others like NBA stars and Replit/Hugging Face leaders. |
Who has invested in Slingshot AI?
6 investors have backed Slingshot AI across its funding rounds, including Andreessen Horowitz, Felicis, Menlo Ventures, Forerunner, Andreesen Horowitz and Radical Ventures.
Lead investors include Forerunner, Radical Ventures, Andreessen Horowitz and Felicis.
Slingshot AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Aug 2024 | ||
| 2 | Lead | Aug 2024 | ||
| 1 | Participant | Jul 2025 | ||
| 1 | Lead | Jul 2025 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSlingshot AI Competitors
Slingshot AI competitors include listed companies like Talkspace and Rocket Doctor AI, and private ones like Biopeak, Qure AI, Benovymed Healthcare Group and Headspace.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $2M | - | $250M | 125.0x | ||
| Publicly listed | $229M | $6M | $871M | 3.4x | ||
| Publicly listed | $1M | ($10M) | $43M | 20.7x | ||
| Private | $19M | - | $240M | 12.6x | ||
| Private | - | - | $241M | - | ||
| Private | $195M | - | $250M | 1.3x |
Slingshot AI Public Comps
Slingshot AI is still privately-owned, but its public comps include American Well, Abeja, Expert.ai, AInnovation Technology, Appen, Selvas AI, Coveo Solutions, Nyxoah, User Local and LifeMD.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $249M | ($63M) | 0.2x | 0.2x | (0.8x) | (3.1x) | |||
| $23M | $3M | 7.8x | 6.4x | 60.9x | - | |||
| $53M | $5M | 4.0x | 4.3x | 39.9x | 53.8x | |||
| $226M | ($30M) | 0.7x | 0.8x | (5.7x) | (4.6x) | |||
| $231M | $9M | 0.7x | 0.6x | 16.9x | 7.2x | |||
| $84M | ($65K) | 2.6x | 3.3x | (3294.6x) | 19.8x | |||
| $148M | ($25M) | 1.2x | 1.2x | (7.3x) | 107.6x | |||
| $12M | ($97M) | 9.5x | 3.2x | (1.1x) | (1.4x) | |||
This data is available for Pro users. Sign up to see all Slingshot AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Slingshot AI
| When was Slingshot AI founded? | Slingshot AI was founded in 2022. |
| Where is Slingshot AI headquartered? | Slingshot AI is headquartered in San Francisco, CA, United States. |
| Is Slingshot AI publicly listed? | No, Slingshot AI is a private, VC-backed company. |
| What is Slingshot AI's valuation? | Slingshot AI was last valued at $220M in its seed round in August 2024. |
| How much funding has Slingshot AI raised? | Slingshot AI has raised $123M across 3 funding rounds. |
| What was Slingshot AI's last funding round? | Slingshot AI's last funding round was a $53M Series A in July 2025, led by Forerunner and Radical Ventures. |
| Who are Slingshot AI's investors? | Slingshot AI's investors include Andreessen Horowitz, Felicis, Menlo Ventures, Forerunner, Radical Ventures and Andreesen Horowitz. |
| What is Slingshot AI's revenue? | Slingshot AI's latest recorded revenue is $10M (August 2024). |
| What is Slingshot AI's revenue multiple? | Slingshot AI's latest valuation implies a 22.0x revenue multiple ($220M valuation on $10M of revenue). |
| Which companies are comparable to Slingshot AI? | Companies comparable to Slingshot AI include Biopeak, Talkspace, Rocket Doctor AI, Qure AI, Benovymed Healthcare Group and Headspace. |
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