New York-based mental health startup Quartet Health has raised a $40 million Series B round led by GV (formerly Google Ventures) with participation from existing investors, including Oak HC/FT Partners, F-Prime Capital Partners and Polaris Partners. Founded in 2014, the company has developed a platform that makes it easier for primary care doctors and mental healthcare professionals to work together.
Quartet data scientists have created algorithms that help doctors figure out if a patient is at risk for another health issue. If that is the case, the patient can be referred to a provider in Quartet's network or its online cognitive behavioral therapy and consultation tools. From there, the patient's providers are able to coordinate all the different facets of treatment, including tests, consultations, and prescriptions, through the platform.
"I've seen loved ones struggle through mental and behavioral health conditions and observed firsthand that finding good care was way harder than it needed to be," founder and CEO Arun Gupta, who was previously an advisor at Palantir Technologies, told TechCrunch. "The healthcare industry can do a better job for patients, families, and communities by employing a model which better leverages the primary care setting, data, and modern technology to give patients much better options and care."
Quartet will use the funds to enter six new markets in the United States over the next year, including ones in Massachusetts, the Midwest and the West Coast.
According to numbers at Quartet's website, some 26 million Americans are not able to receive the behavioral healthcare they need every year.