Chicago Telehealth Startup Raises $1.8M From Hyde Park Angels, Lou Malnati’s President, & Others
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A Chicago startup that connects mental health providers with virtual healthcare professionals announced Tuesday it has raised a $1.8 million Seed Round.
Regroup Therapy, a startup launched by founder David Cohn says it’s created a simple and secure way for mental and behavioral health professionals to extend their digital reach. The startup helps mental health providers sign qualified mental health professionals onto a HIPAA-compliant web-based video delivery platform, which can be used by patients who can’t make it into the clinic in person.
The $1.8 million round was led by Hyde Park Angels, with participation from OCA Ventures, Impact Engine, New Stack Ventures, Wasson Enterprise (led by former Walgreens CEO Greg Wasson and former Walgreens VP of Innovation Stewart Wasson), MD Angels, Grubhub Co-Founder Mike Evans, Chicago angel investor Lon Chow, and Lou Malnati’s President Mark Agnew.
Regroup says it plans to use the funding to grow its sales and engineering teams and expand its partnerships with healthcare entities. The startup already has partnerships with Sinai Health System, Metropolitan Family Services, KAM Alliance, Oak Street Health and OSF.
“We are truly providing a seamless, full-spectrum behavioral health integration that moves beyond just tele health,”Cohn said in a statement. “By acting as a tech-enabled staffing agency for the healthcare market, we can come into a healthcare entity and right size their mental health offering.”
More than of half of US counties have no practicing psychiatrists, psychologists, counselors, or therapists, Regroup says, and it wants to help provide health entities with virtual staffers to help fill those gaps.
“Regroup uniquely fills a much needed gap in mental health services for a range of clinical settings, geographical localities and types of patients. In doing so, Regroup offers a scalable solution for multiple types of customers and a business that can grow rapidly in the near term,” added Hyde Park Angels Member and Flagship Physicians President and Partner Sapan Shah, who joined the Regroup Therapy board.