US-based HealthTech startup Valera Health raises USD 15 million in the latest funding round

Valera Health, a New-York based tech-driven mental health services provider, has raised USD 15 million in the latest funding round led by Windham Venture Partners on 4 November 2021.

Investors: Windham Venture Partners led the latest funding round with participation from new investors Aquiline Technology Growth, MultiCare Health System, Watershed, Divergent Investments, GreyMatter Capital and Gaingels. In addition, existing investors, including AXA Venture Partners, Alsora Capital, Figure Eight Investments, Startup Health and Dr. Tom Insel, former Director of National Institute of Mental Health, also contributed to the funding. 

The Objectives behind the funding: The company plans to deploy the current proceeds to continue to expand operations and business reach.

About Valera Health

Founded in 2015 by Dr. Thomas Tsang, Valera Health offers tech-driven virtual mental health services to patients with high acuity conditions, including serious mental illness (SMI) and severe depression. The startup provides personalized services to all in need of mental health care, including those in rural and urban communities, BIPOC and LGBTQ+ communities with culturally intentional care and a diverse, multilingual provider network.  The company’s emphasis on measurement-based care and evidence-based treatments delivers better quality scores for health plans. Over the past 12 months, Valera has partnered with health plans and provider groups that cover more than twelve million lives and will be expanding to multiple states in the coming months. With a team-based care model that includes licensed therapists, nurse practitioners, case managers, and psychiatrists, Valera Health breaks down barriers of accessibility. It prioritizes patients’ mental health by concentrating on outcomes and utilizing value-based models. From meditation to therapy to medications, patients with mild depression to severe schizophrenia are treated with expert care.

What the Founder has to say:

“We’re honored to have forward-looking partners who recognize the critical need for Valera’s services and our commitment to serving patients who have been neglected historically. This financing will fuel our growth as we partner with leading health systems and health plans to make quality mental health care accessible for those with serious and persistent mental illness,” said Dr. Thomas Tsang, co-founder and CEO of Valera. 

What the Investor has to say:

“The pandemic exacerbated the mental health challenges we are facing. With declining stigma and a greater focus on mental health issues, the demand for good therapists and psychiatrists is at an all-time high and growing rapidly,” said Windham General Partner Adam Fine. 

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