Virtual mental health platforms Brave Health and FOLX Health raised $40 million and $30 million, respectively, in recent funding rounds.
Brave Health, maker of a mental health provider and engagement platform for Medicaid populations, raised $40 million in a series C funding round led by investment firm Town Hall Ventures, according to an Oct. 11 news release from the company. This investment brings its total raised to $60 million.
Brave Health aims to use the funds to better its patient engagement and outcomes technology, expand to new states and transition to value-based contracts.
FOLX Health, a virtual platform focused on providing healthcare to the LGBTQ community, raised $30 million in a series B funding round led by Chicago-based investment company 7wireVentures, according to an Oct. 12 news release from the company.
FOLX Health intends to use the funding to expand its direct-to-employer coverage offerings and to make its services more accessible to the LGBTQ community.