Talkiatry, a telepsychiatry firm, has secured $130 million in Sequence C funding, which the corporate will use to develop and advance value-based care, it introduced Tuesday.

New York Metropolis-based Talkiatry supplies on-line psychiatric and remedy companies for youngsters and adults. It treats sufferers with ADHD, nervousness, bipolar dysfunction, despair and several other different circumstances. It has greater than 300 full-time psychiatrists in 43 states. The corporate works with greater than 60 well being plans, together with UnitedHealthcare, Aetna, Blue Cross Blue Protect and Cigna.

The $130 million Sequence C financing spherical was led by Andreessen Horowitz (a16z) and included participation from Perceptive Advisors. Debt financing was supplied by the Banc of California. In whole, Talkiatry has raised $245 million, together with from Left Lane Capital and blisce.

Andreessen Horowitz selected to put money into Talkiatry as a result of it supplies low-cost, high-quality care, mentioned Scott Kupor, managing accomplice of the agency.

“Talkiatry has mainstreamed outcomes-based psychiatric well being care and risk-based fee fashions. The corporate has constructed a fame for offering reasonably priced, high-quality remedy for psychiatric sufferers whereas constructing strong partnerships with an ever-growing community of payers,” Kupor mentioned in a press release.

With the funding, Talkiatry will enhance the variety of suppliers working for the corporate, mentioned Robert Krayn, CEO and co-founder of Talkiatry. The nation additionally plans to deepen its partnerships with healthcare techniques. In April, the corporate launched a partnership with HCA Healthcare.

As well as, Talkiatry desires to speed up the transition to value-based care, with an emphasis on lowering whole healthcare prices.

“We’ve got a plan to tackle extra threat from payers and that clearly requires larger capital necessities,” Krayn mentioned in an interview. “This can be a step in that route.”

The fundraising announcement comes at a time when almost 50 million American adults are combating psychological sickness and there are usually not sufficient psychiatrists to satisfy the demand. There may be additionally growing consideration to shifting from the fee-for-service mannequin to value-based care to enhance well being outcomes.

“In case you produce nice high quality and nice outcomes, you need to be compensated for that,” Krayn mentioned. “However when you miss, you must take draw back dangers identical to the payer does. And it’ll take a very long time earlier than that occurs. Particularly within the subject of behavioral well being, proving these outcomes has been troublesome as a result of there is no such thing as a blood check for despair. I feel pioneering value-based care in behavioral well being is one thing that’s extremely necessary to us.”

Trying forward, Talkiatry goals to construct deeper partnerships with insurers and provide a broader vary of behavioral well being companies, Krayn added.

Different digital psychological well being corporations embody Brightside, Headspace and Talkspace.

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