What you should know:
– Little Otter today announced a $ 22 million increase in Series A, one of the largest rounds for a child mental health company at this stage, led by CRV.
– The mental health startup offers a full umbrella of services to children and their families in various states and will use the investment to scale nationally in 2023.
Little Otter, a digital based in San Francisco, CA. mental health company to provide tools and treatment for both children and their families, raises $ 22 million in Series A funding led by CRV with the participation of Torch capital, Vast Ventures, Hinsdale, Boxgroup, _Able, Carrie Penner Walton, G9, Springbank Collective, along with strategic angels. This new financing raises the company’s total financing to $ 26.75 million.
Digital mental health care that fits your family wherever you are
Although millions of dollars have recently been invested in mental health companies, few focus on the whole family and none on children from 0 to 3 years old, one of the most critical moments for a child’s brain development. Founded in May 2020 by the mother-daughter team Rebecca Egger and Dr. Helen Egger, the Little Otter model is based on the co-founder’s 30 years of clinical experience, Dr. Helen Egger, and offers virtual care. on demand and integrated with aging specialists, in the early hours. child-trained therapists, couple therapists, and pediatric psychiatrists.
“We created Little Otter to bring mental health and well-being to all families,” said Rebecca Egger, CEO and co-founder of Little Otter. “Simply training more providers cannot address children’s mental health crisis, which is why we have created a unique model and team with experience in child mental health and the best minds in products, engineering and machine learning to create. a platform and building a brand that grows with families over time ”.
Recent traction and clinical improvements
Since its launch, Little Otter has experienced 45 percent month-on-month growth, reflecting unprecedented demand among families at the moment. In addition, 85 percent of families using Little Otter have achieved clinical improvement in just six sessions, demonstrating the effectiveness of the Little Otter care model. With a holistic approach not only limited to the mental health of a single child but to the whole family, Little Otter ensures that the mental health and well-being of the whole family is cared for through self-assessments and quarterly mental health checks for to each child and caregiver. .
National Expansion Plans
This latest investment will drive the growth and scale of Little Otter, currently available in California, Colorado, North Carolina and Florida, which is expected to be fully national by 2023. The company will invest heavily in its latest technology and data. generation. platform with plans to become a profit within the network. Little Otter’s expanding leadership team, which includes Max Helzberg, Chief Operating Officer, Sandhya Padmanabhan, Chief Marketing Officer, and Jim Inoue, Chief Technology Officer, will lead Little Otter to the next stage of growth.
Little Otter’s providers are also the best in their class (only 3% of applicants are hired), all are trained and supervised by Dr. Helen Egger, and each provider has share capital in the company. The company also features a women’s board of directors, which now includes Kristin Baker Spohn of CRV, along with Katie Reiner of Torch Capital.