Total amount raised
$50 Million
Latest funding date
9/1/2016
Location
Brightline has successfully raised funds through six funding rounds, with the latest being a Series C round. The company is backed by 16 investors, including Northwell Health and 7wire Ventures.
Brightline offers behavioral healthcare services for children and their families, providing both in-person and online care. Keep reading to explore the intricacies of Brightline's fundraising journey and the investors backing this innovative platform.
What Is Brightline?
Brightline is a med-tech company based in Palo Alto, California, specializing in behavioral healthcare services for children and their families. The company operates in various sectors, including Child Care, Family, Health Care, Home Health Care, and Mental Health.
Founded with the mission to provide comprehensive mental health care, Brightline offers both in-person and online services. The company has a significant employee base ranging from 251 to 500 employees and has raised funds through multiple rounds, attracting notable investors like Northwell Health and 7wire Ventures.
How Much Funding Has Brightline Raised?
- Seed Round
- Amount Raised: USD 5,000,000
- Date: December 2019
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's initial operations and develop its behavioral healthcare platform.
- Series A
- Amount Raised: USD 20,000,000
- Date: August 2020
- Lead Investors: Oak HC/FT, Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and scale the platform to reach more families.
- Series B
- Amount Raised: USD 65,000,000
- Date: June 2021
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and increase the workforce to meet growing demand.
- Debt Financing
- Amount Raised: USD 7,000,000
- Date: June 2021
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and ensure financial stability during expansion.
- Series C
- Amount Raised: USD 105,000,000
- Date: March 2022
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: USD 705,000,000
- Motivation Behind the Round: To expand staffing and broaden service offerings.
- Series C
- Amount Raised: USD 10,000,000
- Date: July 2022
- Lead Investors: Northwell Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the company's growth and service expansion.
Total Amount Raised: USD 212,000,000. Current Valuation: USD 705,000,000.
Key Investors
- Northwell Health
- Details: Northwell Health is a nonprofit integrated healthcare network that is the largest healthcare provider in New York State. It operates 23 hospitals and nearly 800 outpatient facilities.
- Investment Focus Areas: Healthcare, medical research, community health.
- Notable Investments: Brightline, Formlabs, Playback Health.
- Kohlberg Kravis Roberts (KKR)
- Details: KKR is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. It has a significant presence in the financial industry.
- Investment Focus Areas: Private equity, energy, infrastructure, real estate, credit.
- Notable Investments: ByteDance, Epicor Software, GoDaddy.
- Google Ventures (GV)
- Details: GV is the venture capital arm of Alphabet Inc., focusing on investments in technology and life sciences. It provides funding and support to startups in various stages of development.
- Investment Focus Areas: Life sciences, healthcare, artificial intelligence, robotics, transportation.
- Notable Investments: Uber, Nest, Slack, 23andMe.
- Silicon Valley Bank
- Details: Silicon Valley Bank is a high-tech commercial bank that primarily serves technology, life sciences, and venture capital clients. It offers a range of financial services, including loans and credit.
- Investment Focus Areas: Technology, life sciences, venture capital.
- Notable Investments: Brightline, Beyond Meat, Pinterest.
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm that invests in healthcare and financial technology companies. It focuses on early to growth-stage investments.
- Investment Focus Areas: Healthcare, financial technology.
- Notable Investments: One Medical, VillageMD, Devoted Health.
What's Next for Brightline?
Brightline stands at the cusp of significant growth opportunities, driven by its recent $105 million funding round. This influx of capital will enable the company to expand its service offerings and increase staffing, positioning it to meet the growing demand for pediatric behavioral health services. The digital mental health sector is booming, with a particular focus on virtual therapy and AI-driven healthcare solutions, providing a fertile ground for Brightline's expansion.
Future fundraising opportunities appear promising, with potential for additional Series C or later-stage funding rounds. Strategic partnerships with larger healthcare or technology firms could further bolster Brightline's market position. However, the company may face challenges such as competition from other digital health startups and regulatory hurdles in new markets. Ensuring quality and consistency of care as they scale will be crucial for sustained success.
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