Total amount raised
$135.1 Millions
Latest funding date
10/01/2024
Location
Big Health has successfully raised significant funding over multiple rounds, with notable investors such as SoftBank Vision Fund and Kaiser Permanente Ventures. The company focuses on providing digital Cognitive Behavioral Therapy (CBT) programs for mental health issues like insomnia and anxiety.
Keep reading to explore the intricacies of Big Health's fundraising journey and the investors backing this innovative platform.
What Is Big Health?
Big Health, founded in 2010 by Colin Espie and Peter Hames, is a digital therapeutics company based in San Francisco, California. The company operates in the alternative medicine, health care, medical, mental health, therapeutics, and wellness industries.
With an employee count ranging from 101 to 250, Big Health focuses on providing fully-automated and highly personalized digital mental health solutions. Their offerings include Cognitive Behavioral Therapy (CBT) programs for insomnia (Sleepio) and anxiety (Daylight), aiming to make effective mental health care accessible to everyone, anytime, anywhere.
How Much Funding Has Big Health Raised?
- Funding Round: Series A
- Amount Raised: $3.3M
- Date: April 2014
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial digital therapeutics products.
- Funding Round: Series B
- Amount Raised: $12M
- Date: July 2016
- Lead Investors: Octopus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and scale their operations.
- Funding Round: Series B
- Amount Raised: $39M
- Date: June 2020
- Lead Investors: Gilde Healthcare, Morningside
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their digital therapeutics platform and increase market reach.
- Funding Round: Series C
- Amount Raised: $75M
- Date: January 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate commercial growth and launch six new digital therapeutics by 2024.
- Funding Round: Undisclosed
- Amount Raised: $5.8M
- Date: October 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their product offerings and expand their market presence.
Total Amount Raised: $135.1M. Current Valuation: Not publicly disclosed.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund that invests in technology-driven companies. It is known for making large-scale investments in transformative technologies.
- Investment Focus Areas: Technology, AI, Robotics, Fintech, Healthcare
- Notable Investments: Uber, WeWork, ByteDance
- Kaiser Permanente Ventures
- Details: Kaiser Permanente Ventures is the venture capital arm of Kaiser Permanente, focusing on healthcare innovation. It invests in companies that align with its mission to improve healthcare delivery and outcomes.
- Investment Focus Areas: Healthcare, Health IT, Medical Devices, Digital Health
- Notable Investments: Omada Health, Ginger, Livongo
- Octopus Ventures
- Details: Octopus Ventures is a venture capital firm that invests in early-stage companies across multiple sectors. It aims to support innovative startups with high growth potential.
- Investment Focus Areas: Health, Fintech, Deep Tech
- Notable Investments: Depop, Cazoo, Secret Escapes
- Gilde Healthcare
- Details: Gilde Healthcare is a specialized healthcare investor focusing on innovative companies in the healthcare sector. It supports scalable healthcare solutions.
- Investment Focus Areas: Healthcare Technology, Services, Digital Health
- Notable Investments: Acacia Pharma, Lumicks, STAT-Dx
- Morningside Ventures
- Details: Morningside Ventures is a private investment group that invests in early-stage companies, particularly in the life sciences and healthcare sectors. It supports companies with impactful healthcare solutions.
- Investment Focus Areas: Life Sciences, Biotechnology, Healthcare
- Notable Investments: Moderna, Acceleron Pharma, Atea Pharmaceuticals
What's Next for Big Health?
Big Health stands at the cusp of significant growth opportunities, driven by the increasing demand for non-drug mental health treatments. With plans to launch six new digital therapeutics by 2024, the company is poised to expand its reach globally, leveraging partnerships with health systems and employers. The potential to cover over 10 million lives worldwide underscores the vast market potential.
Future fundraising efforts are likely to attract continued investment from both existing and new investors, supporting further product development and market expansion. Strategic partnerships and collaborations will also play a crucial role in bringing additional capital and enhancing their commercial growth.
However, Big Health may face challenges such as regulatory hurdles, competition from other digital health companies, and the need for continuous clinical validation. Ensuring widespread adoption and integration of their solutions in various healthcare systems will be essential for sustained success.
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