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Handspring Health grabs $6.2M to transform the access to mental healthcare for kids

Handspring Health
Image credits: Handspring Health

Handspring Health, a New York-based startup, which is redesigning the family mental healthcare experience, has grabbed $6.2 million in seed funding. The investment round was co-led by Newark Venture Partners (that recently invested in Walnut) and NextView Ventures. Also, the round saw participation from 25madison Ventures, Arkitekt Ventures, and Quantum Angels, along with prominent healthcare operators.

Growth plans ahead

The proceeds of this round will be used by Handspring Health to accelerate clinician hiring, open modern clinics in New Jersey, invest in technology and patient experience, launch payor partnerships, and expand into new markets. It is positioned to rebuild the pediatric mental health system from the ground up, with a focus on affordable and high-quality mental healthcare for families.

“We are living through a pandemic of mental and behavioral health disorders among children and adolescents. Today, 1 in 5 children in the US have a diagnosable mental health disorder. The healthcare system is failing our children, as systemic barriers have made it impossible for families to find care that’s accessible. When looking for care, families often face unaffordable rates that are not covered by insurance, or waitlists that are several months long,” said Sahil Choudhry, co-founder and CEO of Handspring Health. “Moreover, most new solutions in the market today are virtual-only; not all children can be treated virtually and many need more hands-on and in-person attention.”

“Handspring not only increases accessibility, availability, and affordability for families and children seeking mental health care – but what makes it truly different is that it stands to improve outcomes for its patients,” said Joanne Lin, Principal at Newark Venture Partners. “Its hybrid approach and ability to utilize patient and provider data, position it to be among the next wave of breakthrough mental health companies.”

“Handspring is redesigning how families and caregivers access quality mental health support for children. The company’s vertically integrated approach that’s both online and in-person allows it to serve families and children of all ages and acuity,” said Rob Go, a partner at NextView Ventures. “Handspring is led by a mission-driven and passionate team with deep clinical, operational, and product experience. Nextview is excited to partner with them.”

Quality mental healthcare accessible to all

Reportedly, 1 in 5 children in the US has a diagnosable mental health disorder. However, about half of children who need care do not receive it from a behavioural health provider. Families often face several months of wait and pay expensive fees to treat their children. This is where Handspring emerged to rebuild the pediatric behavioural health system. It works with the mission to create a world where our children’s mental health is cared for as much as their physical health is.

Founded in 2021 by digital health investors – Sahil Choudhry and Kwasi Kyei, Handspring is building an omnichannel behavioral health centre to deliver quality mental healthcare that is affordable for all families with a focus on children and families via virtually and modern clinics. It employs an experienced clinical team, modern clinics, a virtual health platform, and a slew of health plan partnerships, Handspring will provide higher quality mental healthcare to children that empowers them to lead resilient and fulfilling lives.

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