Talkspace, a platform that allows patients in addition to therapists to communicate online, recently announced that it had raised approximately $50 million in a funding spearheaded by Revolution Growth. Investors including Northwest Venture Partners, Spark Capital, and Compound Ventures, in addition to Omura Capital are some of the participants in the round. As part of the business deal, Patrick Conroy of Revolution Growth will join the organization as a board member. Talkspace is also in collaboration with partners, including insurance providers, to provide their services to employees as a package of commercial business. Currently, the company has stated that it’s in partnership with Optum Health. The move expands its commercial reach to approximately 5 million individuals.
Talkspace therapy is an online platform that offers various services associated with mental therapy and wellness. Started by Roni Frank as well as Oren in 2012, the system allows its users to gain access to licensed therapists via their website and mobile app. The management of Talkspace is led by Irvin Yalom, who is a professor at Stanford University. Until now, the organization has raised approximately $57.6 million in funding. Talk space was formed to help in making therapy accessible to many individuals. The system allows its users to pay a fee to gain access to unlimited messaging with one of its healthcare professionals. Since its founding, the organization has distributed its products to specific users, including teenagers and couples. More than 30 million individuals have a mental illness. Some experts have approximated that half of these people don’t gain access to the care they require.
One major reason behind this is the shortage of health care for people who have mental illness and the stigma associated with the disorder. And, although the last few years were marked with increased awareness of the mental illness and its impact on the health of an individual, the situation is still far from optimal. In a research report by health professionals, mental health awareness is as vital as knowledge. Therefore, the lack of it is contributing to the growth and development of stigma. In turn, it hinders various individuals from searching for the help they need. Another primary reason why many individuals are mentally ill is the high treatment cost. It’s been established that therapy is expensive. As such, it’s also not accessible to individuals who might benefit from it.
The organization is a platform that provides its clients with access to therapists through an online interface. The organization aims to eradicate the challenges that individuals who are mentally ill face by incorporating online therapy. This helps to make quicker as well as cheaper help accessible to everyone. Since its establishment, the company has assisted more than 1 million patients in coping with various issues, including eating disorders, depression, personality disorders, traumatic stress disorders, addiction, and family problems.
It’s approximated that 70 percent of these patients have never attended therapy sessions before. The people behind the founding of the organization created a safe and secure platform that’s accessible for all patients. Also known as e-therapy, online therapy is provided by the online platform of communication. It enables its users to connect to various therapists as well as online therapy networks through technology mediums, including apps made for texting, video calls, in addition to audio messages.
The platform’s algorithm is founded on banking-grade encryption that helps to maintain safety in the user-therapist interface of interaction. When paired with an experienced therapist, the levels of interaction depend on the demands of clients. As such, therapists often respond to clients based on the impending issues. Besides the therapy services that the firm provides, the firm advises its members and the community at large using blog posts by staff. For instance, Dr. Samantha Rodman, who is the clinical staff psychologist, talks about anxiety and depression, including how they are linked regarding symptoms as well as therapies.