At Grow Therapy, we recognized a hard truth: when Americans need mental health care most, the system too often fails them.
It asks people to navigate a maze of disconnected providers, insurance gaps, and long waitlists. So we set out to clear the pathway to effective care by breaking down those barriers.
Today, I’m excited to share a meaningful milestone in that journey.
Grow Therapy has raised a $150 million Series D, led by TCV and Growth Equity at Goldman Sachs Alternatives, who led our Series B and C respectively. New investors BCI and Menlo Ventures join existing investors Sequoia, SignalFire, and Transformation Capital.
This round is the direct result of what we’re seeing every day: health plans, employers, and health systems are choosing Grow as a partner to deliver high-quality, affordable mental healthcare to people who need it.
“TCV loves backing great entrepreneurs targeting very large market opportunities. We are excited to continue to partner with Grow on the journey to provide access to, and improvement of, quality mental health care.”
Jay Hoag, Founding General Partner at TCV
Our progress
In just five years, over two million people have turned to Grow for mental health care. In 2025 alone, we facilitated seven million visits, bringing the lifetime total to 10 million therapy and medication management appointments. We’re proud of the fact that 9 out of 10 say they would strongly recommend Grow to a friend, reflected in an 85 Net Promoter Score. The trust we’ve earned reflects our ongoing commitment to improving our platform and making care better for everyone.
Since announcing our Series C fundraise in April 2024 we:
Advanced tools for providers
We continued to strengthen our existing provider tools like our scheduling, billing, and EHR software. We also introduced new tools such as a free, clinically-guided AI notetaker. This allows providers to fully concentrate on their patients during sessions and then review, edit, and approve notes after sessions end. Since its release, provider documentation time has dropped by nearly 70% while surpassing the accuracy of manual notetaking.
Created a best-in-class continuous care experience
We know mental health needs don’t stop when sessions end so we built new tools to support continuous care for patients between visits. Through the Grow app — now rated 4.9 stars in the App Store — clients have free access to clinically-guided AI tools that encourage self-reflection outside of the session. With a client’s consent, relevant insights can also be shared with their provider ahead of the next visit, so their time together stays focused and productive.
Developed systems to measure outcomes
We launched systems to gather clinically validated measures that track patient outcomes over time and prove that care with Grow drives progress. Today, 80% of Grow clients see measurable symptom improvement within 30 days.
Expanded insurance coverage
We expanded from 75 to 125+ health insurer partners, including Medicare and Medicaid in most states. Our broad coverage makes mental healthcare accessible to 220 million people nationwide, using the plans they already pay for. On average, Grow clients pay $21 per visit, and 1 in 3 pay $0.
Deepened critical partnerships
We developed flagship partnerships with major insurers, including Guidewell and its care navigation partner Lucet, following their experience working with Grow as an anchor partner in their behavioral health networks. These deep integrations focus on our shared goals, such as:
- Improving clinical outcomes
- Lowering total cost
- Delivering a better member experience
Our work building a secure, actionable, and measurable mental health platform helped Grow become the most effective mental healthcare partner for major health insurers. Now, building on the strength of those insurer relationships, we’re extending our platform to support employers and health systems, two other critical entry points where people seek care.
“We’re thrilled to back Grow on its mission to deliver breakthrough products and care for mental health. Their technology is grounded in a deep understanding of what people, providers, and business partners need for superior outcomes. Grow has consistently exceeded lofty expectations through world-class execution at scale, and we strongly believe they will define and lead the category for years to come.”
Matt Murphy, Partner at Menlo Ventures
Partnering with employers to set a new standard for mental health benefits
Today I’m thrilled to announce we are extending our platform to employers.
Traditional Employee Assistance Programs (EAPs) and insurance coverage are typically separate, making it difficult for people to transition to using insurance when they max out their EAP benefits. In many cases, this means that people have to switch therapists or pay out of pocket to continue their care. Under a new program designed in partnership with major employers, companies no longer have to ask their employees to make that difficult choice.
Beginning in March 2026, companies can offer Grow Therapy through a redesigned mental health benefit program that allows their employees to seamlessly transition from their EAP to their health insurance and keep the same provider after.
By reducing handoffs between the employer and insurance coverage, programs like this can help employees access effective care quickly and continue without disruption using Grow.
We want to make it easy for employers to balance quality of care with rising costs. That’s why we are only charging for care delivered, not a flat fee for all employees regardless of utilization.
My colleague Julie Harris, Grow’s VP of Enterprise Partnerships, is leading this effort.
“What makes Grow’s value to employers distinct is our ability to balance competing demands. A mentally healthy workforce is more productive by every measure, but employers also have to contain rising costs. Grow offers a rigorously vetted network that delivers measurable mental health improvements in a model designed to complement, not compete with, existing health plan benefits.”
Julie Harris, VP of Enterprise Partnerships at Grow
Partnering with health systems to seamlessly extend access care
While employers play an important role in accessing affordable mental healthcare, the front door to care for many remains their primary medical team.
Annually, more than 70% of people receive a mental health screening during a routine visit, but less than half actually make their way to treatment. Like the historical disconnect between EAPs and insurance, the chasm in the continuity of care from a doctor’s appointment to therapy is one that our mental health platform can now bridge.
So today, in addition to employers, we are extending our platform to health systems like Circle Medical.
Through Grow, Circle Medical’s teams can now coordinate referrals, share relevant context with a patient’s consent, and help set patients up for a strong first therapy session, all within existing care workflows.
This approach supports a clearer path from screening to treatment and reduces friction for patients seeking follow-up care.
Looking ahead
Our mission is clear.
This Series D fundraise strengthens our ability to connect a fragmented mental health landscape and make effective care accessible to everyone, across every entry point.
We will continue to deepen our integration into the healthcare ecosystem and invest in clinically guided technology to deliver better outcomes.
Our purpose-built platform, already trusted by major health insurers, is now available to employers and health systems. For patients, this means there is no wrong door to effective care, whether they begin with their insurer, their employer, or their doctor.
I’m deeply grateful to our providers, our partners, our investors, and most importantly, the more than one-million people who trust Grow with their care. We’re just getting started.
Jake Cooper
CEO & Co-Founder, Grow Therapy
