Lehi — Tava Health, a healthcare technology startup that provides easy access to professional mental health services for individuals, today announced that it raised $10M in series A funding. The growth capital was led by Rose Park Advisors with participation from Peterson Ventures and others
In the wake of Covid, mental health concerns have taken a front seat in the minds of employers. According to research by McKinsey & Company, 9 out of 10 companies surveyed noted that Covid had a negative impact on workplace productivity, and 7 out of 10 companies planned to take immediate action to address the situation.
Tava is uniquely positioned to meet this demand. The company provides a platform that employers can leverage so that their employees don’t have to deal with the stress and guesswork that often accompanies finding the appropriate mental health care. Employees don’t need to worry about scheduling appointments or calculating costs or insurance coverage. Tava matches employees with the therapist that best meets their needs and facilitates therapy sessions and even medication prescriptions virtually through its seamless, intuitive platform. Just as an employer would pay for dental or vision coverage, they would also pay for Tava Health.
“Most people are touched, either directly or indirectly, by mental health issues,” says Dallen Allred, founder and CEO of Tava Health. “Our mission is to help employers solve the current mental health crisis by providing their employees real-time access to the help they need. The most important part of any business is its people. Our platform can better enable those individuals to thrive in their roles, demonstrate clarity and purpose, and unlock their true potential.”
The World Health Organization estimates that mental health disorders will be the leading global disease burden by 2030. With this in mind, the funding round will fuel Tava’s customer expansion and new product innovation as the need for mental health services continues to skyrocket following the Covid pandemic.
“Tava Health is disrupting the old model of in-person, clinic-only mental health services,” says Clint Peterson, managing director of Peterson Partners. “We are thrilled to be working with the Tava team in order to bring these vital tools and services to millions of Americans.”
About Tava Health
Tava Health is a venture-backed, online mental health company that partners with employers to provide convenient, high-quality, accessible mental health resources to employees and their families. Our technology-enabled platform empowers our clients to match with world-class therapists and psychologists without needing to navigate the complexities of the health insurance system.