Grow Therapy, a platform dedicated to improving mental healthcare access, has secured $150 million in a Series D funding round. The investment, co-led by TCV and Goldman Sachs Alternatives, signals strong confidence in the company's integrated care model. This new capital will fuel the expansion of its services into employer benefits and health system partnerships.
A Milestone in Mental Healthcare Access
The financing was led by existing backers TCV and Growth Equity at Goldman Sachs Alternatives, with new participation from BCI and Menlo Ventures. This investment underscores a shared belief in Grow's strategy to make quality mental health services more available. Jay Hoag of TCV expressed excitement in continuing the partnership to improve access to care.
To date, Grow Therapy has facilitated over 10 million therapy and medication management appointments for more than two million people nationwide. The company's success is reflected in its high client satisfaction, earning an excellent 85 Net Promoter Score. This demonstrates a strong commitment to delivering a positive and effective user experience for those seeking support.
Enhancing the Care Experience Through Technology
Since its last funding round, Grow has introduced advanced tools to support its network of providers. This includes clinically guided, AI-assisted note-taking software, which has reduced provider documentation time by nearly 70 percent. These innovations allow clinicians to focus more on patient care during sessions rather than administrative tasks.
The platform also emphasizes continuous support and measurable results for patients between their appointments. Through its highly-rated mobile app, clients can access AI-powered tools for self-reflection, with 80 percent seeing symptom improvement within 30 days. This data-driven approach helps ensure that the care provided is both effective and impactful for users.
Expanding Entry Points to Care
With the new funding, Grow Therapy is launching a redesigned mental health benefits program for employers beginning in 2026. This initiative aims to solve the common disconnect between Employee Assistance Programs and traditional health insurance. The new model creates a unified experience, removing barriers for employees seeking continuous care.
The program allows employees to seamlessly transition from their EAP sessions to their health plan benefits without changing therapists. For employers, this offers a more cost-effective model that charges only for services used, not a flat per-employee fee. This structure is designed to encourage confident investment in workforce mental wellness.
In addition to its employer focus, Grow is extending its platform to health systems, including a new partnership with Circle Medical. This integration facilitates smoother referrals from primary care physicians to mental health specialists. The collaboration aims to bridge the gap between initial screening and receiving timely, effective treatment.
This $150 million investment marks a pivotal moment for Grow Therapy as it works to unify a fragmented healthcare landscape. The company is strategically positioned to deepen its integrations with insurers, employers, and health systems. Ultimately, Grow's mission is to ensure that no matter where an individual starts their search, they find a clear path to high-quality mental healthcare.