Total amount raised
$323 Millions
Latest funding date
10/01/2021
Location
Elemy has successfully raised funds through multiple rounds, with its latest being a Series B round. The company is dedicated to providing childhood mental and behavioral healthcare, leveraging a technology-driven care model.
Keep reading to explore the intricacies of Elemy's fundraising journey and the investors backing this innovative platform.
What Is Elemy?
Elemy, founded in 2019, is a San Francisco-based company specializing in childhood mental and behavioral healthcare. The company was established by Michael Ragheb and Yury Yakubchyk.
Operating within the health care, health diagnostics, and medical industries, Elemy employs between 1001 and 5000 people. The company offers a technology-driven care model that includes in-home therapy, focusing on conditions such as autism, ADHD, OCD, and more.
How Much Funding Has Elemy Raised?
- Seed Round
- Amount Raised: $10M
- Date: July 2020
- Lead Investors: Bling Capital, Felicis, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and develop its technology-driven care model.
- Series A
- Amount Raised: $94M
- Date: March 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's services and increase its market reach.
- Series B
- Amount Raised: $219M
- Date: October 2021
- Lead Investors: Goodwater Capital, Premji Invest, SoftBank Vision Fund
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To grow Elemy's staff, expand its national reach, and invest in research and development.
Total Amount Raised: $323M. Current Valuation: $1.2 billion.
Key Investors
- Goodwater Capital
- Details: Goodwater Capital is a venture capital firm that focuses on early-stage consumer technology companies. They aim to support innovative startups that have the potential to transform industries.
- Investment Focus Areas: Consumer technology, fintech, health tech.
- Notable Investments: Musical.ly, Stash, Toss.
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, the chairman of Wipro Limited. The firm invests in both private and public companies across various sectors.
- Investment Focus Areas: Technology, financial services, consumer sectors.
- Notable Investments: PolicyBazaar, Flipkart, FabHotels.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is one of the largest technology-focused investment funds in the world. It aims to invest in market-leading, tech-enabled growth companies.
- Investment Focus Areas: Technology, artificial intelligence, robotics.
- Notable Investments: Uber, WeWork, ByteDance.
- General Catalyst
- Details: General Catalyst is a venture capital firm that provides early-stage and growth equity investments. They focus on building long-term partnerships with founders.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Airbnb, Stripe, Snap.
- Bling Capital
- Details: Bling Capital is a venture capital firm that invests in early-stage technology companies. They focus on supporting startups with high growth potential.
- Investment Focus Areas: Early-stage technology, consumer tech, fintech.
- Notable Investments: Not specified.
What's Next for Elemy?
Elemy stands at the cusp of significant growth opportunities. With a mission to expand its national reach and enhance its technology offerings, the company is poised to address the increasing demand for pediatric behavioral health services. The potential to streamline autism diagnosis and treatment processes, coupled with a 19-times revenue increase, underscores the vast market need and Elemy's capability to meet it.
Future fundraising efforts are likely to attract continued investment from renowned tech investors, supporting Elemy's expansion and technological advancements. However, the company must navigate challenges such as maintaining quality of care while scaling, adhering to regulatory requirements, and ensuring data privacy in telehealth services. Despite these hurdles, Elemy's innovative approach positions it well for sustained growth and success.
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