Happify Health raises $ 73 million to advance and expand its digital health platform
NEW YORK–(COMMERCIAL THREAD) – Happify Health, a global healthcare software platform for improving mental and physical health, today announced a $ 73 million fundraising round of Series D and related funding to advance and expand the company’s healthcare platform focused on digital therapy and patient care delivery. The investments were led by Deerfield Management Company and included participation from Omega Capital Partners, ION Crossover Partners and existing investors.
The raised capital will support growth in key strategic areas across the platform, including the expansion of digital therapy and care delivery solutions and the pursuit of global business development opportunities. . The new funding will accelerate the platform by helping to strengthen relationships with pharmaceutical companies through configurable digital therapy solutions and specialty solutions for businesses and health plan clients. The capital will also help support further investments in the development of advancements in the artificial intelligence and machine learning-based models that power Anna, a software-based coach designed to support and engage individuals for several chronic diseases. , especially mental health.
“Our ability to add a full group of seasoned investors, led by Deerfield, will further prepare us to seize the enormous opportunity that lies ahead. Today, our platform covers more than 20 million lives with more than 5 million people having received care through our platform. We are also working with five leading pharmacy partners on digital therapy solutions and four of the five national payers to help meet their members’ mental health and chronic disease needs. We look forward to reaching an even larger audience with the support of our new partners, ”said Tomer Ben-Kiki, Co-Founder and CEO of Happify Health.
“To bring our mission to heal everyone, one person at a time, to life, it is essential that we accelerate the growth of our platform in several key areas. This funding will stimulate the development of a variety of new modalities of care on our connected health platform, ”said Ofer Leidner, president and co-founder of Happify Health. “To successfully scale, we must expand our talented team of scientists, researchers and digital healthcare experts as we develop new products, forge strategic partnerships, and expand our platform to support and empower individuals. throughout their unique healthcare journey. We have already started making these growth investments with the recent addition of several key recruitments including a medical director and a brand director. ”
“Happify Health’s evidence-based approach, world-class partnerships and patient focus enable the company to address significant healthcare challenges. We are thrilled to partner with the entire Happify Health team in their mission to help everyone live healthier lives, ”said James Flynn, Managing Partner of Deerfield Management Company.
“The unique platform-based strategy that uses software to engage patients, businesses and pharmaceutical companies has enabled Happify to become a patient care destination to meet many unmet healthcare needs. health. We look forward to playing a role in growing the business while helping individuals live healthier and happier lives, ”said Lee Cooperman, CEO of Omega Capital Partners.
About Happify Health:
Happify Health is a global healthcare software platform focused on improving mental and physical health. Our platform uses an evidence-based approach that delivers scientifically validated programs that positively impact behavior to help manage chronic disease, while providing access to solutions such as telehealth, powered coaching through AI and access to therapies, as needed, to improve people’s daily lives. . Happify Health offers two main solutions to its customers and end users; Digital therapy and healthcare delivery solutions and services across the healthcare ecosystem, including businesses, healthcare plans, healthcare systems, pharmaceutical manufacturers and individuals. Today, the Happify Health platform is available worldwide in 10 languages, supports more than 10 chronic diseases and covers more than 20 million lives. For more information, visit www.happifyhealth.com.