FamilyWell Health Secures $8M to Expand Women's Mental Health Services
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FamilyWell Health has recently secured eight million dollars in Series A funding to expand its women's mental health services. Women are twice as likely as men to experience depression and anxiety, with one in three women battling a mental health condition in their lifetime.
FamilyWell Health partners with women's health providers, integrating mental health services directly into their practice, and offers a virtual team comprising care managers, coaches, therapists, and psychiatric providers, with these services covered by insurers.
The funding round was led by New Markets Venture Partners, with participation from .406 Ventures, GreyMatter Capital, The Alix Foundation, The Donna Fund, and The Lee Foundation. Mark Grovic, general partner and founder of New Markets Venture Partners, stated that FamilyWell is an ideal fit for their mission to invest in evidence-based solutions that enhance lives and expand access to critical care.
FamilyWell Health aims to reduce suffering, strengthen family well-being, and support parents returning to work. The company currently operates in five states: Massachusetts, New Hampshire, Connecticut, Illinois, and Texas, serving over 200 thousand individuals.
With this funding, FamilyWell plans to expand its services into perimenopause and menopause, recognizing that about seventy percent of women in this stage experience mental health challenges such as anxiety, depression, insomnia, and cognitive changes.
Dr. Jessica Gaulton, founder and CEO of FamilyWell Health, emphasized that women's mental health needs have been neglected for too long. She highlighted alarming statistics, noting that fewer than ten percent of Medicaid members and fewer than four percent of privately insured members are screened for postpartum depression, with suicide being a leading cause of maternal death during and after pregnancy.
Dr. Gaulton stated that the new capital will enable FamilyWell to expand its integrated care model, enhance AI capabilities, and deepen collaborations for timely and high-quality support. Together with their OB/GYN partners, FamilyWell Academy aims to reshape the standard of care addressing critical health crises facing women today.
The report also noted other companies in the space, including Mavida Health and Seven Starling, indicating a growing focus on women's mental health services.