Psychiatric care startup, Talkiatry has raised $37 million in their Series A fund round. A part of this amount, $20 million was raised in July last year. An additional $17 million was added by Left Lane capital. Other investors are Sikwoo Capital Partners, Relevance Ventures and Dr Richard Park. Currently, Talkiatry is only present in New York. With the funds, they plan to expand to other parts of the USA.
The venture was started by Dr Georgia Gaveras and Robert Krayn. Dr. Gaveras is a triple board-certified in general psychiatry, child and adolescent psychiatry and addiction medicine. Krayn on the other hand has spent 5 years as the Vice President and Senior Analyst of an investment firm.
After filling out an assessment of Talkiatry, patients interested in psychiatric care are diverted to a Talkiatry-employed mental care provider. The venture provides both online and offline care. An estimated 60% of adults have some or the other mental health condition which goes untreated. Talkiatry has completed 26,000+ consultations so far.
The USA will by the year 2025, report a shortage of around 6000 to 15000 psychiatrists. Talkiatry’s tech-enabled platform helps bridge this gap by lending more power to the psychiatrists and giving them the opportunity to scale. Another element Talkiatry provides is that it guarantees that each Talkiatry clinician is in-network with these carriers. They accept 60+ insurance plans.