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

Woebot Health Overview

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

United StatesUnited States

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

Woebot Health funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2022Series ALeaps by Bayer (lead)$10MWoebot 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 2021Series BJazz Venture Partners (lead); Temasek (lead); New Enterprise Associates; AI Fund; Owl Ventures; Alumni Ventures; Leaps by Bayer; BlackRock; Gaingels; Kicker Ventures; Mirae Asset Capital$90MWoebot 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 2020SeedSocial Discovery Group (lead); 10X Capital; Bossa Invest$1M-
Mar 2018Series AAI Fund (lead); New Enterprise Associates (lead); Social Discovery Group; Jazz Venture Partners; Gaingels$23MWoebot 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

Investors in Woebot Health by funding rounds participated
InvestorHQRoundsRoleFirst check
New Enterprise AssociatesUnited StatesSan Francisco, CA2LeadMar 2018
Social Discovery GroupUnited StatesNew York City, NY2LeadMar 2018
AI FundUnited StatesSan Francisco, CA2LeadMar 2018
Leaps by BayerGermanyLeverkusen2LeadJul 2021
Jazz Venture PartnersUnited StatesSan Francisco, CA2LeadMar 2018
GaingelsUnited StatesNew York City, NY2ParticipantMar 2018
TemasekSingaporeSingapore1LeadJul 2021
Owl VenturesUnited StatesSan Francisco, CA1ParticipantJul 2021
Alumni VenturesUnited StatesUnited States1ParticipantJul 2021
BlackRockUnited StatesUnited States1ParticipantJul 2021
10X CapitalUnited StatesUnited States1ParticipantDec 2020
Kicker VenturesUnited StatesSan Francisco, CA1ParticipantJul 2021

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Woebot 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.

Public and private companies comparable to Woebot Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Workit HealthUnited StatesAnn Arbor, MIPrivate--$500M-
Sword HealthUnited StatesNew York City, NYPrivate$240M-$4B16.7x
Pristyn CareIndiaGurgaonPrivate$64M-$1.4B-
TalkspaceUnited StatesUnited StatesPublicly listed$229M$6M$871M3.4x
TALI DigitalAustraliaAustraliaPublicly listed$166K($2M)$3M-
RoUnited StatesNew York City, NYPrivate$598M-$7B11.7x

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 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)
Alignment Healthcare$3.9B$45M0.4x0.3x31.6x10.0x

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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.

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