We are pleased to announce that Impact Engine has invested in Regroup Therapy, a leading provider of on-demand, virtual mental health teams to health entities. 1 in 5 Americans suffers from a diagnosable behavioral health condition, and yet over 55% of U.S. counties have a shortage of practicing psychiatrists, psychologists and/or social workers. The Chicago based company partners with health entities nationwide to provide state-of-the-art, video-based behavioral health integration, increasing access to critical behavioral health services, reducing total cost to treat, and enabling better outcomes for individuals and communities. Their seamless, full-spectrum behavioral health integration has allowed them to gain traction quickly with health organizations such as Metropolitan Family Services, KAM Alliance, Sinai Health System, Oak Street Health and OSF.
Regroup Therapy closed a $1.8M Series Seed round led by Hyde Park Angels with participation from Impact Engine, OCA Ventures, New Stack Ventures, the Harvard Business Angels of Chicago, MD Angels, Grubhub Co-Founder Mike Evans, Sandbox Ventures Managing Director Lon Chow, and Lou Malnati’s President Mark Agnew. The company will use the capital to build their platform, sales and implementation teams.
We have been extremely impressed by founder and CEO David Cohn, who brings deep expertise in implementing technology to scale solutions, as well as firsthand experience in creating impact and addressing global social challenges. He was previously a Director of the Latin America information technology practice at Corporate Executive Board, and served in the Peace Corps in Guatemala. The team is rounded out by Justine Mitchell, Operations and Clinical Lead, who previously founded a mental health startup and is a licensed social worker; and Moon Lee, CTO, the founder and CTO of Servo.
If you’d like more information on Regroup Therapy or Impact Engine, please don’t hesitate to reach out. Regroup Therapy is the fourth investment out of Impact Engine’s fourth fund.
Read the full press release here.