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Mental Healthcare Company, SonderMind Raises $27 Million

SonderMind, a Denver, Co-based mental care organization that aims to make behavioral health more accessible, approachable and utilized, has raised $27 million in Series B funding round.
Mark Frank, the Co-founder Chief Executive states, “This financing provides the fuel to support our growth objectives and advance our mission to make behavioral health more accessible, approachable and utilized by building a modern marketplace that holds great appeal to both clinician and patient.”
The company has raised the fund in order to expand its services as the demand for mental health services has been increased due to the restrictions and economic stresses caused by the government’s efforts to control the COVID-19 epidemic in US.
As per the previous records revealed by the Centers for Disease Control and Prevention, in 2017, 1.4 million people attempted to commit suicide, 47000 people were died by suicide, and 70000 people were killed due to Drug overdoses in the US. In 2018, 7% of U.S. adults were reportedly suffering from at least one major depressive incident. These statistics showcase a point of tremendous health problem for which SonderMind seems as a part of the solution to its Chief Executive.
Mark explains, “Our real focus is on democratizing mental healthcare, enabling consumers to use the insurance benefits that they are paying for. The client can go to a single spot and engage with technology and a therapist. We have contracted and partnered with major health plans in the markets in which we operate, and our clinicians become in-network with those insurance providers. In addition, we are helping those clinicians provide great clinical care, and we take care of all the rest.”