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Grouport will use this financing to grow its leadership team across critical activities like marketing, technology, product development, and business development, among others, to support its countrywide expansion goals.
FREMONT, CA: Grouport, an online community therapy service that makes group treatment for chronic psychological disorders more widely available, raised $1.5 million in series seed round of financing led by the XV Venture Capital, with participation from the 380 Cap (a fund founded by Drizly co-founder Justin Robinson) and Taub Ventures. The funding will be used by Grouport to strategically grow its evidence-based and tech-enabled platform, which will provide a consistent support setting to individuals who have similar experiences. As a result, Grouport will give more individuals access to best-in-class assistance and skill development necessary for therapeutic success – all at a fraction of the cost of most other choices.
"At Grouport, we're building a collaborative approach to mental health care that gives people the ability to confide in others facing similar challenges and helps them get better together," said Grouport founder and CEO Jonathan Spievack. "Many people feel completely alone and can't fathom that there are others like them out there feeling the same way they do. We're here to normalize their experience, destigmatize a lot of what's keeping them stuck, and help them stay motivated to regularly implement difficult behavioral change into their lives."
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Grouport, founded in 2019, has grown more than tenfold since its inception, with thousands of session attendees. Members have reported various advantages, including symptom relief, improved relationships, higher productivity at work, and an overall improvement in quality of life. Grouport will use this financing to grow its leadership team across critical activities like marketing, technology, product development, and business development, among others, to support its countrywide expansion ambitions.
Brian Deutsch, the founder and managing director at XV Venture Capital explains, "We are living in a time where the mental health of our population is under constant attack. The pervasiveness of social media and the related self-esteem issues, coupled with the isolation and anxiety induced by the Covid pandemic are deteriorating our mental well-being. Fortunately, our society is becoming more accepting and understanding that mental health is critically important. We believe that Grouport is uniquely positioned to be the go-to digital solution for those with moderate to severe chronic mental illness. XV is thrilled to support Jonathan and Mordechai as they make our world stronger and more resilient."
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