Minded telehealth platform raises $25M
Minded, a psychiatry-focused telehealth company specializing in managing mental health medication for consumers, has raised $25 million in seed funding. Launched in 2021 in New York, Minded provides consumers with access to online psychiatry. Minded is currently available in New York, New Jersey, Pennsylvania, Florida, Texas, Illinois, and California. The company says the new funding will be used to expand nationwide and introduce innovative psychiatric offerings.
David Ronick, the co-founder and CEO of Minded who previously co-founded fintech unicorn Stash, told TechCrunch that as an entrepreneur in the direct-to-consumer digital space, he looks for frustrating customer problems to solve. He noted that he has taken medication for anxiety and insomnia for a decade and that it has been expensive to get care from an expert in psychiatry. He teamed up with Gaspard de Dreuzy, who has expertise in the space from co-founding telehealth company Pager, and Dr. Chris Dennis, a multi-state licensed psychiatrist.
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“We founded Minded with the mission of becoming the foremost specialist in mental health medication treatment, fighting the stigma around taking that medication and making it easy and affordable for all,”
David Ronick, the co-founder and CEO of Minded
Minded is available to people 18 and over who have or think they may have anxiety, depression or insomnia and are interested in medication as part of their treatment. To get started with Minded, consumers complete an online assessment to see if Minded is right for them. Then, they’ll chat with a psychiatrist or nurse practitioner via video chat to determine which medication is appropriate.
Patients don’t need a prior diagnosis or prescription to use Minded’s services. The startup’s mental health experts can evaluate symptoms of depression, anxiety and insomnia to diagnose conditions and develop an appropriate treatment plan whether a patient is new to medication or already taking it. Once the medication has been prescribed, Minded will either deliver the prescription to the patient or have it sent to an online pharmacy or a physical pharmacy near them. If a patient has questions about their medication or wants to make changes to their treatment, they can chat with their psychiatrist online.
Prior to its seed round, Minded raised $5 million from Streamlined Ventures, Link Ventures, and other investors, including Richard Park, the founder of CityMD, and Sheila Marcelo, the founder of Care.com.
Minded telehealth platform raises $25M
