Emotional well-being has emerged as a top priority for employers as they look to preserve the health of their workforce. Mental health is also one of the costliest conditions to treat in the United States, with spending rising to over $200 billion annually for patient treatment.
For the past year, we have had the great privilege of working with the team at Modern Health to help employers effectively and affordably prioritize mental health benefits. The team has created the first holistic platform that engages the entire employee population with personalized care plans for each user based on their specific goals and needs. This flexible approach has not only played an important role in destigmatizing mental health care, it’s also proving to be incredibly effective.
Employers and employees are enthusiastically sharing their success stories, which is reflected in Modern Health’s growth. The business has grown 10x by users and revenue, care has extended to more than 60 countries, and the platform has achieved a net retention rate of more than 250%, representing renewed and growing commitments from customers. One user's feedback concisely summarizes the response we've heard from customers, "I'm in full blown tears of gratitude right now. So many of us needed this."
Today, we’re excited to welcome John Doerr and Founders Fund to the Modern Health journey as we announce the company’s Series B. We're proud to work with Alyson and the incredible team at Modern Health on their quest to build a happier, healthier workforce.
- Annie and Mamoon