Handspring Secures $19 Million Series B to Expand Children's Mental Health Services Nationwide

In a significant development for pediatric mental health care, Handspring, a virtual mental health clinic, has successfully raised $19 million in Series B financing. This funding round was led by RPS Ventures, with participation from Angelini Ventures and established investors like Cobalt Ventures and NextView Ventures. With this latest investment, Handspring has raised a total of $37 million, emphasizing the strong belief in their evidence-based care model that prioritizes clinician development and measurable outcomes.

Handspring's mission is to provide high-quality mental health services to youth and families across the United States. With revenue growth exceeding 10x and over 4,000 families served, the clinic's model focuses on the vital role of clinicians. Rather than contracting therapists, Handspring employs them, providing in-house training in various evidence-based therapeutic modalities, including Cognitive Behavioral Therapy (CBT) and Dialectical Behavior Therapy (DBT).

What sets Handspring apart is its approach to mental health care. The clinic believes that effective therapy starts with well-supported clinicians. As a result, they offer ongoing training and clinical support to ensure that their therapists are equipped to handle a wide range of patient needs. This philosophy enables Handspring to address various levels of acuity, allowing patients to transition in care without facing rejection, an issue that often leads many families to seek help from emergency departments or more intensive treatment programs.

"Good therapy depends on the therapist, so we built the company around supporting ours with training, supervision, and regular clinical consultations," said Sahil Choudhry, CEO and co-founder of Handspring. This model enables the clinic to cater to both mild and severe mental health needs effectively, ensuring that families receive the level of care that their child truly requires.

Remarkably, Handspring has achieved impressive clinical outcomes since its inception. Reports indicate that 93% of families notice improvements in daily life upon discharge from treatment. Furthermore, 81% of patients undergoing treatment for anxiety and 78% of those treated for depression record clinically significant improvements, as measured using validated clinical scales.

Expansion has been a key theme for Handspring. Since completing its Series A funding, the clinic has broadened its service reach across nine states, including California, Florida, and New York, while incorporating parental coaching into their care offerings. This growth is supported by a proprietary AI-enabled technology platform that streamlines the experience for both patients and caregivers. Features of the platform include custom-built patient and provider portals, an AI-enabled clinical scribe, and a therapist matching engine designed to connect families with the most suitable therapist right from the start.

As Kwasi Kyei, co-founder and president of Handspring, noted, "Our technology buildout has focused on making high-quality care easier to deliver, scale, and measure. We've created a software-enabled care platform that supports every step of the patient journey, improving accessibility and efficiency for both families and clinicians."

Looking ahead, the Series B funding will facilitate scaling Handspring's workforce, enhancing their clinical development programs, expanding value-based care partnerships, and further advancing their technological infrastructure. The addition of Nancy Hilliker of RPS Ventures to the board and Sarah Fox of Angelini Ventures as an observer signals the growing interest and commitment to transforming mental health care for children.

Ultimately, Handspring aims to continue reimagining mental health care, focusing on structured and evidence-based virtual therapy for young people and their families. The clinic's personalized approach seeks to empower families through timely and effective mental health care, laying down the foundation for better futures. This funding initiative is a promising step towards making high-quality mental health services more accessible to those who need them most, ensuring that more families can thrive across the nation.

For more information about Handspring and its services, visit handspringhealth.com.