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The funding will enable therapists to provide in-network services in all 50 states.
Fremont, CA: Fintech is a fast-developing technology that has the potential to disrupt many aspects of the financial system. The expansion of financial technology firms in recent years has been astounding. Fintech is the buzzword in the financial sector. It has transformed various financial industry businesses, from payments to consulting services.
Alma, a membership-based system that assists independent mental health care providers in accepting insurance and establishing thriving private practices, has secured a 130 million dollars Series D funding round led by Thoma Bravo, a leading software investment firm, with participation from Cigna Ventures. Existing investors Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners, and Sound Ventures joined the round, increasing the company's total fundraising to more than 220 million dollars.
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"By centering therapists at the forefront, Alma is creating a sustainable business model that helps providers accept insurance, grow their private practice, and reach more people seeking care. Over the past year, we scaled our services to offer in-network mental health care in all 50 U.S. states, helping people find much-needed care during their greatest moments of need," said Alma founder and CEO Dr. Harry Ritter.
Alma assists providers in meeting the increasing need for mental health treatment by providing the assistance and infrastructure required to take insurance and manage a small company. When a provider joins Alma, they have access to insurance assistance, teletherapy software, automated billing and scheduling tools, and a thriving community of clinicians who meet for education, training, and events.
Alma has tripled its network to 8,000 certified mental health practitioners across all 50 states in the last year. As Alma expands, the firm is dedicated to cultivating a broad network of professionals capable of serving customers across the country. Almost 40 percent of Alma's network providers identify as Black, Hispanic/LatinX, or Asian.
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