Handspring launches with $6.2m seed financing to make mental healthcare accessible to children and families

Handspring launches with $6.2m seed financing to make mental healthcare accessible to children and families

Published: 13-05-2022 13:55:00 | By: Pie Kamau | hits: 294 | Tags:

Handspring announced the closing of its $6.2 million seed round to further its mission of making quality mental healthcare accessible to all families. The financing round was co-led by Newark Venture Partners and NextView Ventures with participation from 25madison Ventures, Arkitekt Ventures, and Quantum Angels, along with prominent healthcare operators. With this investment, Handspring is positioned to rebuild the pediatric mental health system from the ground up, with a focus on affordable and high quality mental healthcare for families.

Sahil Choudhry, Co-founder and CEO, Handspring Health: "We are living through a pandemic of mental and behavioral health disorders among children and adolescents. Today, 1 in 5 children in the US have a diagnosable mental health disorder. The healthcare system is failing our children, as systemic barriers have made it impossible for families to find care that's accessible. When looking for care, families often face unaffordable rates that are not covered by insurance, or waitlists that are several months long. Moreover, most new solutions in the market today are virtual-only; not all children can be treated virtually and many need more hands-on and in-person attention."

Founded in 2021 by Sahil Choudhry and Kwasi Kyei, both previously digital health investors, Handspring is building an omnichannel behavioral health center to deliver quality mental healthcare that is affordable for all families. Through an experienced clinical team, modern clinics, a virtual health platform, and health plan partnerships, Handspring will provide higher quality mental healthcare to children that empowers them to lead resilient and fulfilling lives.

Joanne Lin, Principal, Newark Venture Partners: "Handspring not only increases accessibility, availability, and affordability for families and children seeking mental health care - but what makes it truly different is that it stands to improve outcomes for its patients. Its hybrid approach and ability to utilize patient and provider data, position it to be among the next wave of breakthrough mental health companies."

Rob Go, partner, NextView Ventures: "Handspring is redesigning how families and caregivers access quality mental health support for children. The company's vertically integrated approach that's both online and in-person allows it to serve families and children of all ages and acuity. Handspring is led by a mission-driven and passionate team with deep clinical, operational, and product experience. Nextview is excited to partner with them."

This funding allows Handspring to accelerate clinician hiring, open modern clinics in New Jersey, invest in technology and patient experience, launch payor partnerships, and expand into new markets.