That document reflects $6.5m equity closed with $2m in debt converted, netting $4.5m in fresh capital for the company that was started in 2013 by Dale Cook and Dr. Russ Morfitt to offer online Cognitive Behavioral Therapy “CBT” programs for Stress, Social Anxiety, Insomnia and Depression.
The company made rounds through the Minnesota Cup, Beta.MN/Showcase, and CoCo’s demo night in the early days and really found that product market fit when going from B2C to B2B by serving corporate clients, managed behavioral health organizations, employee assistance programs, and universities — all seeking to expand their mental health offerings.
The venture raised some incremental investment off and on for the first few years before closing on $3.7m earlier this year.
That brought its coffer to around $6m at the time; factoring this additional ~$4m bumps them up to $10m in estimated total investment raised to date while Linkedin says they have 21 employees now. Known investors include angel Daren Cotter, TreeHouse Health , Blue Cross/Stella, and Matchstick Ventures.