Tava Health Raises $20 Million to Bridge the Gap in Mental Health Care with a Therapist-Centric Approach
Tava Health, a mental health platform, has raised $20 million in Series B funding led by Catalyst Investors. The investment will support product development, expansion of the provider network, and enhancement of partnerships with employers and insurance carriers. Tava Health distinguishes itself with a therapist-centric model, offering tools that prioritize therapists’ needs, aiming to improve patient care and accessibility. The company has collaborated with major carriers like Aetna and UHC, improving access to mental health services with minimal wait times and high satisfaction rates.
Tava Health’s all-in-one platform prioritizes therapists and increases accessibility for individuals seeking quality mental health care.
SALT LAKE CITY, March 6, 2024 Tava Health, a trailblazing mental health company, successfully completed a $20 million Series B funding round led by Catalyst Investors. Existing investors Peterson Partners, Toba Capital, and SpringTide, along with new investor Blue Heron Capital, also participated in the funding round. The new capital will be utilized for extensive product development, expansion of Tava Health’s provider network, and bolstering partnerships with employers and health insurance carriers. Kapil Desai, partner with Catalyst Investors, will join the company’s Board of Directors as part of the investment.
“Demand for therapy is greater than ever, and while access to mental health care is improving, we still face a crisis of access and quality,” said Desai. “We are confident in Tava’s innovative approach to mental health and proud to back a company that successfully delivers a complete solution for therapists, enabling them to do what they do best – helping clients when they need it, how they need it, and where they need it.”
Tava Health’s therapist-centric model sets it apart in the mental health market. The company prioritizes therapists, providing open access to Tava’s electronic medical record (EMR) and practice management software, empowering therapists to deliver top-notch care to patients in a full-stack platform.
“We developed Tava with therapists at the center, recognizing that their needs are rarely prioritized. By equipping therapists with tools to make them more productive, they can increase time with patients providing mental health care that is so desperately needed,” said Dallen Allred, CEO of Tava Health. “In a mental health landscape where timely access to care is crucial, Tava Health is a beacon of efficiency and accessibility.”
Tava Health has inked agreements with national carriers such as Aetna and UHC in the last year, broadening access to continuous care for patients. The company has also expanded its local partnerships, establishing ties with 45 regional medical carriers.
Tava Health’s commitment to prioritizing therapists translates into industry-leading accessibility and minimal wait times, ensuring that individuals seeking mental health support can swiftly connect with qualified professionals. With Tava, patients can access care quickly, as early as the same day. Tava Health is able to do this without sacrificing quality, as its therapists receive a 4.94 out of 5 stars on average, underscoring the positive impact of a therapist-centric approach on client satisfaction and overall mental health treatment experience.
About Tava Health
Founded in 2019, Tava Health is a cutting-edge mental health platform revolutionizing access to quality care. Bridging the gap between providers and those seeking support, Tava Health prioritizes therapists, offering an integrated suite with an electronic medical record, telehealth, billing, and referral management. Committed to breaking down barriers, Tava Health partners with employers, making mental health checkups as routine as other healthcare practices. For more information, visit www.tavahealth.com.
About Catalyst Investors
Catalyst Investors is a growth equity firm based in New York. Over the past 20-plus years, Catalyst has invested in rapidly growing technology companies and has established a successful track record of partnering with entrepreneurs and helping companies scale. Recent investments and exits include Breezeway, BrightFarms, ChowNow, Clinicient, EDB, Fusion, LinkSquares, Pax8, Presence and Weave. For more information, visit www.catalyst.com.
SOURCE Tava Health, Inc.
