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Talkiatry, a virtual mental healthcare platform that employs more than 800 full-time psychiatrists, announced an oversubscribed $210 million Series D funding round, bringing its total raise to more than $400 million.
Perceptive Advisors led the round, with participation from Sofina and existing investors Andreessen Horowitz (a16z), blisce/ and Left Lane Capital. It also secured a debt facility from Banc of California.
WHAT IT DOES
Talkiatry is an AI-powered virtual health platform that privately employs psychiatrists. Its providers cover various conditions, such as anxiety, depression, insomnia, mood disorders, postpartum depression, children's mental health, bipolar disorder, OCD, PTSD and substance use disorder.
The company said it helps with back-office functions, patient engagement between visits, and helping health systems get patients into care. It also enables "innovative payment models with payers."
Talkiatry touts that it is an in-network psychiatric care provider through more than 100 insurers nationwide.
The New York-based company will use the funds to enhance its technology and scale its reach.
"Talkiatry has built a national full-stack provider group that sits on a proprietary AI-powered technology platform giving it greater control over the quality and care being delivered at scale," Michael Altman, head of strategy at Perceptive Advisors, said in a statement.
"The company's consistent results across outcomes, engagement, and patient experience position it as defining the next era of psychiatric care in the United States. Our investment supports that long-term vision."
MARKET SNAPSHOT
In 2024, Talkitary secured $130 million in equity and debt financing, bringing its total raise to $245 million.
The equity round was led by Andreessen Horowitz (a16z), with participation from Perceptive Advisors, and debt financing was provided by Banc of California.
That same year, the company announced a referral collaboration with HCA Healthcare, enabling it to become part of HCA's network and for patients to be referred to Talkiatry psychiatrists when HCA Healthcare or community resources lack capacity.
It also partnered with Magellan Health in 2024, a collaboration that would help extend telepsychiatry services across California, and with the direct-to-consumer mental health therapy provider BetterHelp.
In 2023, Quest Behavioral Health, an administrator of mental health and substance use disorder benefits, partnered with Talkiatry to provide Quest members and their families with access to virtual psychiatric care.
Talkiatry and NOCD partnered that year as well to improve access to therapists and psychiatric services for people suffering from OCD.
In 2021, Talkiatry completed a $37 million Series A round of funding.
