HPA Portfolio Company Handspring Health Raises $19M Series B to Expand High-Quality Mental Health Care for Children and Families
HPA is excited to share that Handspring Health, an HPA portfolio company, has announced $19 million in Series B financing led by RPS Ventures, with participation from new investor Angelini Ventures and continued backing from returning investors HPA, Cobalt Ventures, NextView Ventures, nvp capital, Cornucopian Capital, and others. This financing brings Handspring’s total capital raised to $37 million. HPA has supported Handspring since its Series A round, and we’re excited to see the company reach this next milestone.
Handspring is a virtual mental health clinic delivering evidence-based care to youth, young adults, and their families. The model starts with the clinician: therapists are employed rather than contracted, trained in-house in modalities like CBT, DBT, and exposure therapy, and backed by ongoing training and clinical supervision. That investment in clinicians lets Handspring treat the full spectrum of acuity including through its Complex Care program, which serves high-risk youth who are too often turned away from traditional outpatient care or unnecessarily referred to higher levels of care.
“Good therapy depends on the therapist, so we built the company around supporting ours, with training, supervision, and regular clinical consultation, instead of just matching families to whoever is available,” said Sahil Choudhry, CEO and co-founder of Handspring. “That’s what lets us care for a child whether their needs are mild or severe. This round lets us bring that model to many more families.”
Handspring has treated more than 4,000 families and grown revenue more than 10x over the last two years, while maintaining strong outcomes: 93% of families report improvement in their daily life upon discharge, the company holds a Net Promoter Score of 81, and 81% of patients treated for anxiety and 78% treated for depression saw clinically meaningful improvement on validated clinical scales. Since its Series A, Handspring has expanded to nine states – California, Connecticut, Florida, Georgia, New Jersey, New York, North Carolina, Pennsylvania, and Washington – and added parent coaching to its care offerings.
Powering this growth is a fully integrated, AI-enabled technology platform: custom patient and provider portals, a proprietary telehealth experience, an in-house AI-enabled clinical scribe, and an AI-powered therapist-matching engine. “Our technology buildout has focused on making high-quality care easier to deliver, scale, and measure,” said Kwasi Kyei, co-founder and president of Handspring. “This infrastructure is what will let us scale this level of care to far more families without losing what makes it work.”
As part of the round, Nancy Hilliker of RPS Ventures has joined Handspring’s board of directors, and Sarah Fox of Angelini Ventures has joined as a board observer. The new capital will be used to scale Handspring’s clinician workforce, expand value-based care partnerships and geographic coverage, deepen the Complex Care program, and further develop the technology platform.
HPA congratulates the Handspring team on this milestone and looks forward to supporting the company’s continued growth through its People First model, leveraging experienced operators alongside financial capital to help great founders build enduring businesses.
HPA Deal Lead Mindy Heintskill will continue contributing her behavioral health and growth expertise to support Handspring’s continued growth. Heintskill previously served as Chief Marketing Officer at SonderMind, a company redesigning behavioral health care, and before that as Chief Growth Officer and Chief Marketing Officer at MDLIVE, where she led sales, account management, marketing, and partnerships. Earlier in her career, she held customer insights and marketing leadership roles at Walgreens.
We congratulate the Handspring team on this milestone and look forward to supporting their continued growth!
Read more about the round here.