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Mental health startup Alma secures $130 million in funding

Alma has raised a total of $220 million in funding since its launch in 2018

by Babu Patil
Mental health startup Alma secures $130 million in funding

Alma, a provider of subscription-based practice management software and support tools for mental health care providers, raised $130 million in Series D funding.

Investment firm Thoma Bravo led the round with additional investment from Cigna Ventures. The company’s existing investors Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners, and Sound Ventures, also joined the round.

The latest funding announcement comes a year after the company announced its $50 million Series C round. Including the latest round, Alma has now raised a total of $220 million in funding since its founding in 2018.

Alma offers a membership-based software platform. The platform helps mental health care professionals automate their practice and day-to-day tasks, including billing, scheduling, insurance support, etc. According to Alma, more than 8,000 licensed mental health providers use its platform to build and scale their practices in the U.S. 

For patients, Alma helps find the right therapist that fits their needs, budget, and schedule and has access to its online directory of clinicians. 

The company said that the new funds would help therapists offer in-network care in all 50 states.......