Psych Hub Expands To Therapist Matching Following $16M Funding Round

Psych Hub, a Nashville, Tennessee-based mental health education startup, has raised $16 million in a funding round co-led by HC9 and Frist Cressey Ventures.

Announced Thursday, the cash infusion will help Psych Hub add therapist matching capabilities. The to-be-launched Psych Hub Connect will match potential patients to in-network practitioners that are trained in evidence-based interventions and are a cultural fit. 

Several digital companies offer similar services, pitching patients on timely access to clinicians. These include digital mental health companies such as Cerebral and Talkspace that connect patients with their therapists.  

Other companies, such as Alma, act as the administrative backbone on behalf of therapists. Alma announced earlier in the week it raised a $130 million Series D funding round.

The Psych Hub funding round will also help the startup expand its resources for practitioners, mental health allies and consumers. 

Apart from expanding Psych Hub Connect, the round will fund more content on its existing Mental Health Practitioner Hub, Mental Health Ally Hub, and Psych Hub Public Consumer Hub libraries, according to a news release.

Other investors that joined the round include HealthStream, Emerson Collective and Bailey & Co.’s strategic fund.

Therapist and pundit Marjorie Morrison and former Democratic congressman Patrick Kennedy founded Pysh Hub in 2019. This is the company’s first funding round, according to Crunchbase.com. 

“When mental health practitioners deliver evidence-based, client-specific care in areas such as depression, anxiety, insomnia, substance use, and adolescent mental health, consumers experience better outcomes, practitioners experience less burnout, and the healthcare system sees overall cost-of-care savings,” Morrison said in the release.

Psych Hub intends to be a one-stop online mental health information and navigation resource for mental health practitioners and consumers alike. Providers gain access to more than 1,500 proprietary educational assets to deepen their knowledge of evidence-based care.

Psych Hub has deployed this platform to over 800 partners including corporations, healthcare organizations, governments, nonprofits, and educational systems, the release states.

Some of the partners listed on its website include Major League Baseball, Google, Magellan Health, Optum, Cigna, the U.S. Navy and Discover. 

“Psych Hub has assembled a comprehensive set of resources intended to address the black box in mental health care,” Richard Lungen, general partner of HC9, said in the release. “We are impressed by their focus on education and their ability to navigate people to the right level of in-network care, and are excited for the next steps in their growth.”