Digital psychological well being firm Iris Telehealth introduced Thursday that it has raised $40 million to develop entry to behavioral well being companies.
The Austin, Texas-based firm mentioned it plans to make use of the cash to develop scientific operations, and business and know-how groups, so it could actually assist well being methods and neighborhood well being facilities meet the psychological well being wants of sufferers.
Harmony Well being Companions and Columbia Pacific Advisors led the Collection B funding spherical. Columbia was an preliminary investor in Iris Telehealth and has expanded its funding dedication to assist the corporate’s development.
“This funding will permit us to scale our scientific operations to satisfy the overwhelming demand we’re seeing for behavioral healthcare companies,” mentioned Andy Flanagan, Iris’s CEO, in an e-mail. “It’ll additionally allow us to develop our product and know-how capabilities to assist our buyer companions handle sufferers throughout the continuum, making certain the appropriate affected person is receiving the appropriate care on the proper time.”
Because the startup was based in 2013, its core mission has been to ship high quality, sustainable behavioral healthcare so the organizations it companions with can higher assist the sufferers and communities who want it most, Flanagan mentioned.
“That has been constant over the earlier 9 years and can keep true going ahead as nicely,” he mentioned. “This funding will permit us to go deeper, and scale sooner, in attaining this mission.”
Iris is now serving virtually 200 hospitals and neighborhood well being facilities and can see its 2 millionth affected person this 12 months, he mentioned.
At the same time as total telehealth use has decreased since spiking on the outset of the pandemic, demand for behavioral telehealth has remained sturdy. Digital teletherapy permits folks to be seen within the consolation of their very own houses, and supplies an possibility for a lot of who’ve restricted in-person entry to psychological well being professionals. On condition that 77% of U.S. counties face a psychiatrist scarcity, offering well timed, high quality care to sufferers with severe psychological sickness has by no means been extra important—or difficult, in response to Iris.
“Sadly, the necessity for high quality behavioral healthcare on this nation surpasses the provision,” Flanagan mentioned.
Numerous digital psychological healthcare organizations are stepping in to attempt to fill that hole. That features firms like PMC (Psychiatric Medical Care) and innovaTel which are additionally targeted on reaching underserved communities.
For its half, Iris Telehealth has been capable of quickly develop its operations to supply important psychological well being assist for extra sufferers, whereas sustaining profitability, in response to its buyers.
“We have now seen Iris develop for a few years and imagine they’re simply getting began,” mentioned Stan Baty, co-founder and managing companion of Columbia Pacific Advisors, in a press release. “We stay up for serving to them scale to assist extra healthcare organizations and sufferers in want of high quality behavioral healthcare.”
Photograph credit score: Olga Strelnikova, Getty Photographs
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