The mental healthcare industry in the U.S. is at an inflection point: Patients can’t easily find help while therapists are overworked, underpaid, and frustrated with traditional employment options. Therapists are increasingly dissatisfied with the groups they are employed by and 80% are looking for a new way to engage with patients.
Launching one’s own practice is hard. Self-employed therapists must navigate complex payer relationships to offer in-network coverage, tap channel and referral networks to build their book of patients, manage burdensome administrative work, and cultivate a network of peers for collaboration and support. The industry’s antiquated practices are directly impacting patient outcomes and clinical quality.
Grow’s B2B2C platform enables therapists to launch their own independent practice and in doing so, enables therapists to expand access and better serve patients.
With Grow’s complete ‘practice-in-a-box’ solution, self-employed therapists can offer affordable insurance-covered care to patients without having to worry about patient acquisition, overhead, or other administrative burdens that often fall on independent private operators (e.g. EHR, scheduling, invoicing, payment collection, note taking tools). Grow also provides a community for therapists to engage and connect with other providers in the field. 70%+ of providers use the Grow Community weekly and many cite this feature as a reason for their success on Grow.
For patients, Grow offers a convenient path to find the right in-network behavioral health provider, book time instantly on their calendar, and access confidential secure care either virtually or in-person.
Team on a mission.
The idea for Grow came from CEO and Co-Founder Jake Cooper’s experience with the difficulties of finding in-network behavioral care. After many dead-ends, Jake decided to pay out-of-pocket for a provider not covered by his insurance. While he had the resources to tap a provider out-of-network, Jake knew most Americans did not.
Jake partnered with co-founders Alan Ni and Manoj Kanagaraj, as well as a broader team with deep experience across technology, healthcare, and payments, to build a mission driven company which empowers therapists to launch their own independent practices that are: 1) covered by the largest number of insurance providers in the industry, 2) easily discoverable by patients, and 3) scalable due to full-stack supporting infrastructure.
Our partnership with Grow.
We’re thrilled to announce that TCV has led Grow’s Series B. In this round, Grow has raised $75M in equity and debt capital from TCV and other leading investors including Signalfire and Transformation Capital.
At TCV, we look to partner with founders who are building category-defining, generational companies and we’re incredibly excited to partner with Jake, Alan, Manoj, and the rest of the Grow team on their mission to create the largest and most accessible behavioral health platform in the country.