Talkiatry, a New York-based national mental health practice, has raised an oversubscribed $210 million in Series D funding led by Perceptive Advisors. The company delivers virtual, in-network psychiatry services, matching patients aged 5+ to over 600 full-time expert psychiatrists for conditions including ADHD, anxiety, depression, and PTSD. The capital will expand operations as the nation's largest full-stack psychiatry provider.
Telepsychiatry Investments Hit New Highs
The timing aligns with surging interest in digital mental health solutions. Talkiatry's round follows its ranking as #6 on CB Insights' 2024 Most Innovative Digital Health Startups list, signaling strong market validation amid clinician shortages and rising demand.
Mental Health Access Gaps Persist Nationwide
Over 50 million U.S. adults live with mental illness, yet many face long wait times and high out-of-pocket costs for care. Traditional psychiatry struggles with provider shortages, with average waits exceeding 25 days for new appointments. Virtual models like Talkiatry's address these by offering insurance-covered visits and rapid matching.
Full-Stack Psychiatry Achieves 65% Remission
Talkiatry differentiates with full-time employed psychiatrists, not contractors, ensuring consistent quality and retention. Services include 60-minute initial visits, medication management, and specialized care for children, pregnancy, and substance use. This approach yields strong outcomes.
Talkiatry's recent study revealed:
65% of patients with anxiety/depression no longer report clinically significant symptoms after 5 visits.
Unlike gig-based platforms, Talkiatry emphasizes personalized treatment plans with 175,000+ successful patient matches.
Perceptive Validates Oversubscribed Scale-Up
Perceptive Advisors led the round, drawn to Talkiatry's traction of 2 million+ patient visits and 100+ insurance partnerships. This growth capital signals confidence in scaling the workforce beyond 600 psychiatrists and solidifying market leadership. It positions Talkiatry for deeper health system integrations.
Digital Mental Health Demand Explodes
The U.S. telepsychiatry market supports rapid expansion, with Talkiatry's model fragmenting competition by insurance integration. Peers attract capital, but Talkiatry's full-stack, employer-paid model captures share through outcomes and retention. Industry trends favor in-network virtual care as utilization rises post-pandemic.
Patient-Psychiatrist Founders Drive Mission
Co-founded by patient Robert Krayn and psychiatrist Dr. Georgia Gaveras, Talkiatry stems from personal experience with access barriers and clinician burnout. Their combined expertise has built a 501-1000 employee operation, certified as a Great Place to Work. This credibility fuels innovation in telepsychiatry.
Workforce Expansion Follows 2M Visits
With total visits surpassing 2 million, Talkiatry plans psychiatrist workforce growth and national deepening via partnerships. The funding enables 10x scaling potential in matches and deployments across 100+ insurers.