Total amount raised
$159.5 Millions
Latest funding date
12/1/2019
Location
Quartet Health has successfully raised significant funding over multiple rounds, attracting notable investors such as Google Ventures and Oak HC/FT. The platform focuses on expanding access to high-quality behavioral healthcare through innovative solutions.
Keep reading to explore the intricacies of Quartet Health's fundraising journey and the investors backing this transformative platform.
What Is Quartet Health?
Founded in 2014 by Arun Gupta and Steve Shulman, Quartet Health is based in New York, New York. The company focuses on providing a platform that matches patients with mental health providers based on clinical needs, preferences, and insurance coverage.
Quartet Health offers a range of services, including care navigation support, provider referral and progress tracking, health systems integration, collaboration with health insurance plans, and digital mental health programs. Their mission is to make high-quality mental health care accessible to everyone.
With a team of 101-250 employees, Quartet Health partners with health plans, health systems, and community mental health centers across 39 states, aiming to improve the lives of individuals through holistic behavioral healthcare solutions.
How Much Funding Has Quartet Health Raised?
- Series A
- Amount Raised: $7M
- Date: March 2015
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial platform for matching patients with mental health providers.
- Series B
- Amount Raised: $40M
- Date: April 2016
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Series C
- Amount Raised: $40M
- Date: January 2018
- Lead Investors: F-Prime Capital, Polaris Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series D
- Amount Raised: $60M
- Date: June 2019
- Lead Investors: Centene
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate nationwide expansion and support Medicaid beneficiaries.
- Series D (Extension)
- Amount Raised: $7.5M
- Date: December 2019
- Lead Investors: Echo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the expansion and integration of services.
- Corporate Round
- Amount Raised: $60M
- Date: December 2021
- Lead Investors: Independence Blue Cross
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance partnerships with health plans and expand digital mental health programs.
- Venture Round
- Amount Raised: $51.4M
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and improving platform technology.
Total Amount Raised: $265.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. It provides seed, venture, and growth-stage funding to technology companies.
- Investment Focus Areas: Technology, healthcare, life sciences, artificial intelligence, robotics.
- Notable Investments: Uber, Nest, Slack.
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm that invests in healthcare and financial technology companies. It aims to partner with entrepreneurs to build successful businesses.
- Investment Focus Areas: Healthcare, financial technology.
- Notable Investments: VillageMD, One Medical, Poynt.
- Centene Corporation
- Details: Centene Corporation is a multinational healthcare company that provides services to government-sponsored healthcare programs, focusing on Medicaid and Medicare.
- Investment Focus Areas: Healthcare services, Medicaid, Medicare.
- Notable Investments: WellCare, Health Net.
- F-Prime Capital Partners
- Details: F-Prime Capital Partners is a global venture capital firm that invests in healthcare and technology companies. It focuses on early and growth-stage investments.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Denali Therapeutics, Beam Therapeutics, Innovent Biologics.
- Polaris Partners
- Details: Polaris Partners is a venture capital firm that invests in healthcare and technology companies. It supports companies from early-stage through growth.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Akili Interactive, Ironwood Pharmaceuticals, Receptos.
What's Next for Quartet Health?
Quartet Health stands at the cusp of significant growth opportunities, driven by its strategic partnership with Centene Corporation. This collaboration aims to expand access to behavioral health resources for underserved Medicaid patients, leveraging technology to integrate mental health care with primary care. The potential for nationwide expansion is vast, particularly in states like Pennsylvania, Washington, and Northern California, where the company already has a presence.
Future fundraising opportunities appear promising, given the substantial $60 million Series D funding and the ongoing support from major investors like Google Ventures and Oak HC/FT. These funds will likely fuel further technological advancements and market expansion. However, challenges such as ensuring effective integration of services across diverse markets and navigating regulatory requirements remain. As the healthcare landscape evolves, Quartet Health's ability to adapt and innovate will be crucial for sustained success.
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