What You Should Know:
– Talkiatry, a leading provider of in-network psychiatric care today announced it raised $20 million as completion of its Series A funding. The round includes an additional $15 million, led by Left Lane Capital with further participation from Dr. Richard Park, founder and former CEO of CityMD. In February 2021, Talkiatry kicked off its Series A round after raising $5 million led by Sikwoo Capital Partners with participation from Relevance Ventures and Dr. Park.
– The funding will enable Talkiatry to further develop its proprietary technology and expand operations into additional states in the Northeast as well as the Mid-Atlantic and South regions in 2022. Talkiatry currently employs over 30 psychiatrists and over 40 total providers and has logged over 30,000 patient visits since its launch. Talkiatry is partnered with all of the nation’s leading health insurers, including United Health Care, Aetna, Humana, Cigna, and Blue Cross Blue Shield. With a hybrid model of in-person and virtual care, Talkiatry is increasing access of the highest quality, responsibly.
Why It Matters
The pandemic has exacerbated the already broken mental healthcare system. 1 in 5 adults are living with mental illness and sadly 60% of them go untreated every year due to a shortage of qualified providers or expensive out-of-pocket costs. Founded in 2020, Talkiatry is increasing the accessibility of high quality and responsible psychiatric care throughout the United States. With tailored support solutions and proprietary technology, Talkiatry’s team of psychiatrists are enabled to achieve insights into their patient populations that were previously unattainable. From pre-diagnosing patients to tracking their progress over time, Talkiatry’s insights and high quality care reduces the overall healthcare costs for their insurance partners and in turn, patients and employers.
“Talkiatry is built by psychiatrists, for psychiatrists and we are uniquely situated to understand and address the access, cost and quality issues plaguing outpatient behavioral healthcare,” said Robert Krayn, Co-Founder and CEO of Talkiatry. “With the completion of our Series A, we will expand our offering to states with a desperate need for responsible, affordable, and high quality care.”