Meru Health raises $ 38 million in Series B funding to transform the
SAN MATEO, Calif., September 23, 2021 (GLOBE NEWSWIRE) – Meru Health, which provides the most comprehensive online mental health solution for depression, burnout and anxiety, today announced it has raised a $ 38 million Series B funding round led by Industry companies. Other investors in the cycle include early funders Bold Capital Partners, Freestyle VC, FMZ Ventures and Leksell Social Ventures, as well as funding provided by JP Morgan. The new funding, a mix of equity and debt, will be used to accelerate Meru Health’s nationwide expansion in the United States, expand partnership efforts with health care payers and employers, and expand access. to a new coaching solution – designed to help people with early signs of depression, burnout or anxiety prevent these symptoms from getting worse.
âWe were very impressed with the team’s commitment to meeting a pressing societal and market need with world-leading clinical data and evidence,â said Fanni Fan, Vice President of Industry Ventures . âWe also found the new coaching solution from Meru Health very exciting. Meru Health primarily serves members across the continuum by providing preventative mental health care. No one else does that. We believe there is huge potential here.
Meru Health works with employers such as Stanford University and several Fortune 100 and 500 companies, EAPs such as Wellspring, and payers such as Cigna, Humana, and Moda Health to deliver an online mental health care program that shows strong and lasting clinical results. In a peer-reviewed journal to study, the researchers found that 48 percent of participants with at least moderate depressive symptoms responded to treatment, and 60 percent of participants had sustained depression and reduced anxiety during the 12-month follow-up. These response rates are higher than those found in a real world antidepressant to study which showed a response rate of less than 20 percent at the end of treatment and less than 30 percent at 12 months follow-up. The average cost savings for an employer for the Meru Health program are estimated to be over $ 6,000 per enrolled participant (because the downstream health costs and reduced productivity of untreated anxiety and depression workers are so high).
Meru Health’s treatment program can be accessed anytime and anywhere through a smartphone app. Each participant is supported by a personal and licensed therapist who guides them through the program based on a 12 week app where they learn behavioral practices, mindfulness, biofeedback practices and habit change activities for the participant. sleep, nutrition and more to help reduce symptoms of depression and anxiety. After the first 12 weeks, participants gain access to digital content and can use the portable biofeedback device for the next 9 months.
Meru Health was born from the own experience of its founder. Several years ago, Peter, the older brother of CEO and founder Kristian Ranta, lost his battle with depression and committed suicide. A computer scientist by training, Ranta was frustrated by the state of mental health care: the lack of availability of mental health care providers, low efficiency and inconsistency of care. Meru Health was launched in 2018 and the company’s customer base has grown tenfold in 2020. Meru Health continues to experience strong growth in 2021 and beyond.
“Meru Health was founded to reinvent the way mental health care works, including solving access issues and creating a more holistic offering that could produce better and longer lasting results than what is available today,” Ranta said. âWe knew that this type of new approach would require rigorous clinical validation. I am proud of our work with the smartest minds in the world, our collaboration with top universities such as Stanford and Harvard, and the building of a world-class in-house science team to continue to build the most effective solution. for mental health that really helps people heal from depression and anxiety.
âI cannot stress enough that we are currently in a mental health crisis,â Ranta said. âCOVID-19 has left tens of millions of people depressed and anxious in its wake, and without effective treatment the outcome could be tragic. Solutions like Meru Health are essential in returning these people to a fully functioning state where they feel empowered to take care of their own mental health. We are incredibly proud of the work we do.
About Meru SantÃ©
Meru Health sets the new standard in mental health care with the most comprehensive online solution that combines licensed therapists and psychiatrists, a smartphone-based treatment program, portable biofeedback, anonymous peer support and habit change activities for sleep, nutrition and more. The company is committed to providing evidence-based care and has published groundbreaking clinical results with Stanford, Harvard, and UC Davis that show promising clinical efficacy and long-lasting outcomes that provide a practical mental health treatment option. , accessible and without side effects unlike the standard of care in the United States today. Meru Health partners with major health insurance providers like Cigna, Humana and Moda Health, as well as leading companies that want to provide the best mental health care to their employees or members. For more information visit www.meruhealth.com and follow us on LinkedIn, Facebook, and Twitter.
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