The funding round will strengthen the company's partnerships with over 1,000 OBGYNs and major health plans, enhancing their ability to deliver specialized women's mental healthcare.
WASHINGTON, DC / ACCESSWIRE / July 16, 2024 / Seven Starling, a leading virtual provider of women's behavioral health services, today announced it has raised $10.9 million in Series A funding. RH Capital led the oversubscribed investment round, with participation from insiders Pear VC, Expa, Magnify Ventures, Emerson Collective, and Inflect Health, and new investors including Zeal Capital Partners, Ulu Ventures, Fiore Ventures, the March of Dimes, Rogue Venture Partners, Graham & Walker, and Wisdom Ventures. The funding will be used to expand access to essential women's mental healthcare, ensuring that more people receive the specialized support they need during critical periods such as infertility, miscarriage and loss, pregnancy, postpartum, and parenthood.
"We are thrilled to have successfully raised this round of funding, which will allow us to expand our reach and help more women who need support during critical life transitions," says Tina Beilinson Keshani, co-founder and CEO of Seven Starling. "This investment is a testament to the demand for a dedicated women's mental health solution and our commitment to providing accessible, high-quality care. With the new funding, we will continue to successfully reduce the stigma around women's mental health and ensure that every woman has access to the care she needs, when she needs it."
The company's initial focus is on maternal mental health. Shockingly, 94% of women do not seek help for perinatal mood and anxiety disorders due to high barriers including a shortage of therapists, limited in-network coverage, and high stigma surrounding these conditions. These conditions affect one in five women during the motherhood journey, yet only 20% are screened for mental health issues, and 75% of those who need treatment do not receive it. Seven Starling changes these statistics by making its services accessible through its vast in-network coverage, integrated group therapy model, and partnerships with referring providers to make the process of getting started seamless for patients.
"We are proud to partner with Seven Starling in this new chapter to expand access to maternal mental healthcare, an area of significant need," says Alice Zheng, MD, Principal at RH Capital. "We are excited by the comprehensive and scalable offerings, including group therapy to expand access. As a recent mom of two myself, I have been shocked by the lack of perinatal mental health support available relative to need and am thankful to see Seven Starling filling that gap."
"Seven Starling is addressing a huge problem not just around motherhood but the entire female lifespace from adolescence to menopause," says Mar Hershenson, Founder of Pear VC. "Women are nearly twice as likely as men to be diagnosed with depression or an anxiety disorder in their lifetime, but lack a tailored solution designed to meet their unique needs. Pear has partnered with Seven Starling since day one and we are excited to double down on them."
Seven Starling's unique clinical model coupled with a deep understanding of patients' needs and experiences drives superior clinical outcomes, with over 90% of patients seeing a clinically significant improvement in their symptoms upon completing the program. It includes:
Specialized Individual & Group Therapy: Offering both individual and group therapy sessions led by specialized mental health providers who understand the unique challenges faced by women.
Medication Management: Providing evidence-based psychiatric evaluation and medication management to support those who can benefit from medication as part of their treatment.
Care Coordination: Pairing each patient with a Patient Advocate who supports their seamless onboarding process and ensures they get the most out of their experience.
In-App Content & Exercises: Engaging patients in-between appointments with tailored content such as CBT-inspired exercises, journaling prompts, and guided meditations.
Seven Starling is a trusted resource for over 1,000 OBGYNs at private practices and hospitals across the country, with 90% of Seven Starling patients referred by their doctor. This distinctive go-to-market allows Seven Starling to reach patients at the time of diagnosis and address the $14 billion in additional healthcare costs associated with untreated maternal mental health conditions.
Expanding access to care is a core part of the company's mission, partnering with most major commercial health plans, including Anthem, Aetna, Cigna, United Healthcare, Kaiser Permanente, and Blue Cross Blue Shield. Over 85% of Seven Starling patients use their in-network insurance to pay for services, with typical copays ranging between $0-$30 per appointment. In its next phase, Seven Starling is preparing to accept Medicaid, continuing its commitment to its mission to make its services more accessible to all women across the US.
"Mental health conditions, such as depression and anxiety, are among the most common complications for moms during pregnancy and the postpartum period," said Kelly Ernst, March of Dimes SVP, Chief Impact Officer. "Many do not receive treatment they desperately need, which can lead to long lasting clinical, social, and economic consequences. When these conditions are effectively treated and managed, everyone benefits. We're proud to be investors in Seven Starling and look forward to seeing how their innovative and comprehensive approach improves the mental healthcare needs of women across the country."
The capital raised from this round will be used to fuel continued national expansion, partnering with Medicaid plans, and developing innovative technology to further integrate with healthcare partners. In addition to the funding, Zheng and Hershenson are joining Seven Starling's board of directors. Their extensive experience and insights are anticipated to play a crucial role in guiding the company's future strategies and expansion efforts.
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ABOUT SEVEN STARLING:
Seven Starling is a leading virtual provider of women's behavioral health services. Its holistic clinical model combines specialized therapy, peer support, and medication management to effectively address the unique mental health challenges women face during critical periods such as infertility, miscarriage and loss, pregnancy, postpartum, and parenthood. With a mission to reduce stigma and improve access to care, Seven Starling partners with OBGYNs and major health plans to deliver personalized, effective mental health solutions. For more information, visit www.sevenstarling.com.
MEDIA CONTACT:
Lauren Gill, MAG PR at E: lauren@mooringadvisorygroup.com; P: 978-473-1362
SOURCE: Seven Starling
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