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- Woebot Health
Woebot Health Funding, Investors & Competitors
Woebot Health has raised $123M across 4 funding rounds, most recently a $10M Series A in March 2022.
Last Woebot Health funding round
$10M
Series A · Mar 2022
Cumulative funding Woebot Health raised
$123M
across 4 funding rounds
Key investors in Woebot Health
New Enterprise Associates
Gaingels
Leaps by Bayer
Jazz Venture Partners
AI Fund
Social Discovery Group
Alumni Ventures
Bossa Invest
About Woebot Health
Woebot Health, founded in 2017 and headquartered in San Francisco with an office in Dublin, develops AI-powered relational agents for mental health treatment. Its core product, Woebot, is a chatbot that delivers cognitive behavioral therapy-based strategies for conditions including anxiety, depression, postpartum depression, and substance use disorder. The company's digital therapeutic candidate for postpartum depression has received FDA Breakthrough Device Designation.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Subscription
Woebot Health Funding History
Woebot Health has raised a total of $123M across 4 funding rounds.
Woebot Health's first fundraising round was a $23M Series A in March 2018. The most recent completed round was a $10M Series A in March 2022.
Woebot Health funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2022 | Series A | Leaps by Bayer (lead) | $10M | Woebot Health, founded in 2017, develops an AI-powered behavioral health platform featuring a mental health chatbot that delivers clinically tested strategies to improve user mental health. The company secured a $9.5 million strategic investment from Leaps by Bayer on March 15, 2022, marking Leaps by Bayer's first investment in mental health. This funding follows a $90 million Series B round in 2021 led by Jazz Venture Partners and Temasek, bringing Woebot Health's total funding to $123.5 million. Leaps by Bayer, the impact investment arm of Bayer AG, aligned the investment with its Leap Five initiative to protect the brain and mind amid rising depression and anxiety needs. The funding aims to accelerate development of Woebot Health's AI platform and products for continuous care. Woebot Health also initiated a collaboration with Bayer Pharmaceuticals under the G4A Digital Health Partnerships Program to explore integrated mental health care solutions. Previously, Woebot Health received FDA Breakthrough Device Designation for its digital therapeutic treating postpartum depression. |
| Jul 2021 | Series B | Jazz Venture Partners (lead); Temasek (lead); New Enterprise Associates; AI Fund; Owl Ventures; Alumni Ventures; Leaps by Bayer; BlackRock; Gaingels; Kicker Ventures; Mirae Asset Capital | $90M | Woebot Health, founded in 2017, develops AI-powered relational agents and digital therapeutics for mental health treatment, with its core product Woebot creating human-level therapeutic bonds through scalable software applications based on cognitive behavioral therapy. The company closed a $90 million Series B funding round on July 21, 2021, co-led by Jazz Venture Partners and Temasek Holdings, bringing total funding to $114 million. Participants included BlackRock Private Equity Partners, Owl Ventures, Mirae Asset Capital, Kicker Ventures, Alumni Ventures, Gaingels, and existing investors New Enterprise Associates and AI Fund. Proceeds from the round were allocated to accelerate development of its relational platform and technologies, advance lead digital therapeutic candidates like WB001 for postpartum depression—which received FDA Breakthrough Device designation in May 2021—and expand team and go-to-market activities amid rising global mental health demand. The platform exchanges 4.7 million messages weekly with users and achieves 98.9% accuracy in detecting crisis language. A consumer app is available, but future revenue depends on sales to health systems and insurers. Recent milestones included a large-scale study in May 2021 demonstrating Woebot's ability to establish therapeutic bonds, previously thought unique to human interactions. Headquartered in San Francisco with an office in Dublin, Woebot positions itself as a pioneer integrating digital solutions into comprehensive mental health care ecosystems to address access gaps. |
| Dec 2020 | Seed | Social Discovery Group (lead); 10X Capital; Bossa Invest | $1M | - |
| Mar 2018 | Series A | AI Fund (lead); New Enterprise Associates (lead); Social Discovery Group; Jazz Venture Partners; Gaingels | $23M | Woebot Health, founded in 2017, develops AI-powered relational agents like Woebot for mental health treatment, including cognitive behavioral therapy-based chatbots for conditions such as anxiety, depression, postpartum depression, and substance use disorder. The company has received FDA Breakthrough Device Designation for its postpartum depression therapeutic WB001 and focuses on scalable digital therapeutics for behavioral health. The results primarily cover later rounds, such as a $90 million Series B in July 2021 co-led by JAZZ Venture Partners and Temasek, with participation from BlackRock Private Equity Partners, Owl Ventures, Mirae Asset Capital, Kicker Ventures, Alumni Ventures, Gaingels, NEA, and AI Fund, bringing total funding to $114 million. A subsequent $9.5 million investment from Leaps by Bayer in March 2022 is also mentioned, increasing total funding to $123.5 million. |
Who has invested in Woebot Health?
14 investors have backed Woebot Health across its funding rounds, including New Enterprise Associates, Gaingels, Leaps by Bayer, Jazz Venture Partners, AI Fund and Social Discovery Group.
Lead investors include Leaps by Bayer, Jazz Venture Partners, Temasek, Social Discovery Group, AI Fund and 1 other investor.
Woebot Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Mar 2018 | ||
| 2 | Lead | Mar 2018 | ||
| 2 | Lead | Mar 2018 | ||
| 2 | Lead | Jul 2021 | ||
| 2 | Lead | Mar 2018 | ||
| 2 | Participant | Mar 2018 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Jul 2021 | ||
This data is available for Pro users. Sign up to see all 14 Woebot Health investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialWoebot Health Competitors
Woebot Health competitors include listed companies like Talkspace and TALI Digital, and private ones like Workit Health, Sword Health, Pristyn Care and Ro.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $500M | - | ||
| Private | $240M | - | $4B | 16.7x | ||
| Private | $64M | - | $1.4B | - | ||
| Publicly listed | $229M | $6M | $871M | 3.4x | ||
| Publicly listed | $166K | ($2M) | $3M | - | ||
| Private | $598M | - | $7B | 11.7x |
Woebot Health Public Comps
Woebot Health is still privately-owned, but its public comps include Humana Inc., Max Healthcare Institute, Oscar Health, Hims, Doximity, ACADIA Pharmaceuticals, Compass Pathways, Alignment Healthcare, Ping An Healthcare and JMDC.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $130B | $3B | 0.4x | 0.3x | 17.8x | 16.6x | |||
| $858M | $232M | 12.6x | 10.2x | 46.5x | 36.8x | |||
| $12B | ($391M) | 0.5x | 0.4x | (15.9x) | 12.8x | |||
| $2.3B | $178M | 3.1x | 2.4x | 40.4x | 23.9x | |||
| $645M | $229M | 6.3x | 6.2x | 17.7x | 11.9x | |||
| $1.1B | $119M | 3.6x | 3.2x | 32.3x | 33.6x | |||
| - | ($293M) | - | - | (5.8x) | (8.4x) | |||
| $3.9B | $45M | 0.4x | 0.3x | 31.6x | 10.0x | |||
This data is available for Pro users. Sign up to see all Woebot Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Woebot Health
| When was Woebot Health founded? | Woebot Health was founded in 2017. |
| Where is Woebot Health headquartered? | Woebot Health is headquartered in United States. |
| Is Woebot Health publicly listed? | No, Woebot Health is a private, VC-backed company. |
| How much funding has Woebot Health raised? | Woebot Health has raised $123M across 4 funding rounds. |
| What was Woebot Health's last funding round? | Woebot Health's last funding round was a $10M Series A in March 2022, led by Leaps by Bayer. |
| Who are Woebot Health's investors? | Woebot Health's investors include New Enterprise Associates, Social Discovery Group, AI Fund, Leaps by Bayer, Jazz Venture Partners, Gaingels, Temasek, Owl Ventures, Alumni Ventures, BlackRock and 4 others. |
| Which companies are comparable to Woebot Health? | Companies comparable to Woebot Health include Workit Health, Sword Health, Pristyn Care, Talkspace, TALI Digital and Ro. |
See companies similar to Woebot Health
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