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Two Chairs raises $72M Series C in equity and debt to scale its therapist network
When Alex Katz founded Two Chairs in 2017, he firmly believed that in-person therapy is the most effective for behavioral health. Two Chairs used Behavioral health startup announced a $72 million Series C equity and debt financing, led by Amplo and Fifth Down Capital, bringing Two Chairs total funding to $103 million.
Last week, Grow Therapy, a three-sided mental health platform for therapists, payers and patients, raised an$88 million Series C round led by Sequoia. Katz says that the primary difference between his company and other virtual behavioral health platforms, including Talkspace and Teladoc-owned BetterHelp, is that Two Chairs employs the “vast majority” of its therapists while most competitors contract with their clinicians. Availability of remote therapy from independent clinicians, established institutions and startups like Two Chairs has been helping solve the shortage of mental health professionals in the U.S., but Katz says that online psychotherapy is not the panacea.
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