Meru Health secured $8.1M led by Foundry Group

Further coverage at: https://www.forbes.com

Meru Health raises $8.1M in Funding and Publishes Groundbreaking Research Outcomes

SAN MATEO California —​ May 12, 2020 ​— ​Meru Health, an online provider for greater mental health, announced today that it has secured $8.1M in Series A financing led by Foundry Group, Slack, Bold Capital, and Y Combinator. This financing will support Meru Health’s growth with several large health insurance companies as well as large employers. Meru Health specializes in helping people with burnout, anxiety and depression.

On the research front, Meru Health recently published groundbreaking peer-reviewed clinical results with Harvard Medical School and Rutgers University researchers. This study shows how a more holistic treatment approach to mental health; the addition of a biofeedback wearable for Heart Rate Variability Biofeedback, greatly improved treatment outcomes, showing symptom reduction rates that are 2-3x stronger than what is typically seen with standard of care. The publication can be found ​here​.

“​The timing of this funding and publication of our exceptional clinical results couldn’t be better,”​ said Kristian Ranta, Meru Health Founder & CEO. ​“With the recent COVID-19 Crisis, we are seeing a surge in demand as well as the loosening of barriers to make telehealth and remote care more accessible. We are excited to be working with several large health insurance companies and employers to make Meru’s best-in-class care available for people in need. I’m extremely proud of our team and honored to work with such great commercial and research partners.”

Meru Health has been steadily building a scientific evidence-base by conducting clinical studies and scientific research. Meru has published several peer-reviewed clinical studies with leading universities showing completion rates close to 90% and excellent clinical outcomes that last up to 12 months after treatment.

“From the beginning, I’ve been impressed with the Meru Health team and approach,” said Brad Feld, a partner at Foundry Group. “They have taken the best of mental healthcare and put it together in a remote offering that is vitally needed at this time in our world’s history. Mental health challenges are only going to increase and Meru’s commitment to research-based solutions results in a holistic and data-driven treatment solution that helps people get access to care faster while providing groundbreaking clinical treatment outcomes. This is the future of medicine in mental healthcare.”

Even prior to the COVID-19 crisis, depression and anxiety have been significant health issues in the U.S., affecting more than 25 million Americans annually. While depression is the leading cause of disability, and costs employers billions in lost productivity and healthcare costs, less than 50 percent of those affected have access to care. Some of the biggest barriers to improving our mental health care are stigma and challenging state and telehealth regulations and limitations for providing remote care. The recent COVID-19 crisis has further increased the need for remotely accessible healthcare services including services for mental health, and it has also started alleviating some of the more restrictive regulations to allow faster and broader access to care.

To support people in the midst of the COVID-19 crisis, Meru Health has made mental health and resiliency building resources available for the general public free of charge at https://www.meruhealth.com/covid-19​.

About Foundry Group:

Foundry Group is a Boulder, Colorado-based venture capital firm focused on making early-stage technology investments, participating in select growth rounds, and identifying and supporting the next generation of venture fund managers.

About Meru Health:

Meru Health is an online provider for greater mental health with remote clinicians (licensed therapists & psychiatrists), a smartphone-based treatment program, a biofeedback wearable and an anonymous peer-support group. Meru’s digital therapeutic program consists of continuous remote clinician support, at-home therapeutic lessons and practices (e.g. cognitive behavioral therapy, mindfulness, biofeedback), as well as nutritional psychiatry and sleep medicine lessons and coaching. Meru Health is committed to evidence-based care and has published groundbreaking clinical outcomes in several peer-reviewed medical

journals. Meru Health has offices in San Mateo, California and Helsinki, Finland. For more information, visit: ​www.Meruhealth.com​.

Media Contact:

Kristian Ranta
CEO & Founder
Meru Health Kristian.ranta@meruhealth.com

 

Leave a Comment

Your email address will not be published. Required fields are marked *